Curated Wealth Partners LLC Sells 28,921 Shares of Otis Worldwide Corporation $OTIS

Curated Wealth Partners LLC cut its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 78.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,143 shares of the company’s stock after selling 28,921 shares during the quarter. Curated Wealth Partners LLC’s holdings in Otis Worldwide were worth $524,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Otis Worldwide in the second quarter valued at approximately $2,264,017,000. State Street Corp raised its stake in shares of Otis Worldwide by 2.9% during the 2nd quarter. State Street Corp now owns 16,664,994 shares of the company’s stock worth $1,193,214,000 after purchasing an additional 463,491 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Otis Worldwide during the 2nd quarter worth approximately $423,739,000. Van ECK Associates Corp raised its stake in shares of Otis Worldwide by 0.6% during the 2nd quarter. Van ECK Associates Corp now owns 3,993,011 shares of the company’s stock worth $285,900,000 after purchasing an additional 24,914 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Otis Worldwide during the 2nd quarter worth approximately $223,003,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on OTIS shares. Wells Fargo & Company began coverage on Otis Worldwide in a report on Thursday, September 24th. They issued an “underweight” rating and a $77.00 price objective for the company. Evercore restated an “outperform” rating and set a $95.00 target price on shares of Otis Worldwide in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Morgan Stanley set a $75.00 price target on shares of Otis Worldwide in a research report on Monday, August 10th. Finally, Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a research note on Tuesday, July 28th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $91.00.

Otis Worldwide Stock Performance

Shares of OTIS opened at $71.31 on Friday. Otis Worldwide Corporation has a 52 week low of $63.58 and a 52 week high of $94.57. The firm has a market cap of $27.14 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 2.47 and a beta of 0.87. The firm’s 50-day simple moving average is $69.32 and its 200 day simple moving average is $72.44.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, equities analysts forecast that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 14th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. Otis Worldwide’s dividend payout ratio (DPR) is 45.24%.

Otis Worldwide Company Profile

Otis Worldwide Corporation (NYSE: OTIS) is a global manufacturer and service provider focused on elevator and escalator systems. The company designs, manufactures, installs and maintains elevators, escalators and moving walkways for commercial buildings, residential properties, transportation hubs and other infrastructure.

Its offerings include passenger and freight elevators, escalators, moving walkways, digital monitoring solutions and related components. Otis also provides ongoing maintenance, repair, modernization and replacement services, which support the performance and safety of equipment throughout its operating life.

The company traces its origins to 1853, when Elisha Graves Otis demonstrated a safety elevator that helped make taller buildings practical.