Investors Purchase High Volume of Otis Worldwide Call Options (NYSE:OTIS)

Otis Worldwide Corporation (NYSE:OTIS) was the recipient of some unusual options trading on Monday. Investors acquired 10,567 call options on the stock. This is an increase of approximately 2,048% compared to the typical daily volume of 492 call options.

Otis Worldwide Trading Up 0.7%

NYSE:OTIS traded up $0.47 during midday trading on Monday, hitting $71.96. 445,639 shares of the stock were exchanged, compared to its average volume of 3,738,347. The company has a market capitalization of $27.39 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 2.52 and a beta of 0.89. Otis Worldwide has a one year low of $69.16 and a one year high of $94.57. The business has a 50-day moving average price of $72.64 and a two-hundred day moving average price of $77.56.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.76 billion. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Sell-side analysts forecast that Otis Worldwide will post 4.03 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be issued a $0.44 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. Otis Worldwide’s dividend payout ratio is 45.24%.

Analysts Set New Price Targets

OTIS has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Evercore reissued an “outperform” rating and set a $95.00 price target on shares of Otis Worldwide in a report on Thursday, July 23rd. Morgan Stanley set a $75.00 price objective on shares of Otis Worldwide in a research note on Monday, August 10th. Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a report on Tuesday, July 28th. Finally, Sanford C. Bernstein decreased their target price on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Otis Worldwide has an average rating of “Hold” and a consensus target price of $92.91.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Camelot Portfolios LLC acquired a new stake in shares of Otis Worldwide during the 4th quarter valued at $26,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Otis Worldwide during the 4th quarter valued at $27,000. Orion Capital Management LLC acquired a new position in shares of Otis Worldwide in the second quarter worth $27,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Otis Worldwide in the fourth quarter worth $33,000. Finally, Reflection Asset Management purchased a new stake in shares of Otis Worldwide during the fourth quarter worth $34,000. Institutional investors own 88.03% of the company’s stock.

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.