IFP Advisors Inc Grows Position in Otis Worldwide Corporation $OTIS

IFP Advisors Inc boosted its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 1,158.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,404 shares of the company’s stock after purchasing an additional 20,624 shares during the period. IFP Advisors Inc’s holdings in Otis Worldwide were worth $1,957,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Root Financial Partners LLC purchased a new stake in Otis Worldwide during the 3rd quarter worth approximately $26,000. Stance Capital LLC purchased a new stake in Otis Worldwide during the 3rd quarter worth approximately $27,000. Camelot Portfolios LLC purchased a new stake in Otis Worldwide during the 4th quarter worth approximately $26,000. Rakuten Investment Management Inc. purchased a new stake in Otis Worldwide during the 3rd quarter worth approximately $31,000. Finally, Westside Investment Management Inc. grew its position in Otis Worldwide by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 336 shares of the company’s stock worth $31,000 after purchasing an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

OTIS opened at $72.79 on Friday. The firm has a fifty day moving average price of $77.66 and a 200 day moving average price of $85.10. Otis Worldwide Corporation has a 1 year low of $69.72 and a 1 year high of $101.42. The stock has a market cap of $27.93 billion, a P/E ratio of 19.36, a P/E/G ratio of 2.34 and a beta of 0.95.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Equities analysts expect that Otis Worldwide Corporation will post 4.19 EPS for the current year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be given a dividend of $0.44 per share. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, May 15th. Otis Worldwide’s dividend payout ratio (DPR) is currently 46.81%.

Wall Street Analysts Forecast Growth

OTIS has been the topic of several research analyst reports. Barclays dropped their target price on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 23rd. JPMorgan Chase & Co. downgraded shares of Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 target price on the stock. in a research report on Friday, January 30th. New Street Research set a $98.00 target price on shares of Otis Worldwide in a research report on Friday, January 30th. Wells Fargo & Company dropped their target price on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 1st. Finally, Evercore initiated coverage on shares of Otis Worldwide in a research report on Monday, April 13th. They set an “outperform” rating and a $100.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Otis Worldwide has an average rating of “Hold” and a consensus target price of $97.64.

Otis Worldwide Company Profile

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.