MSH Capital Advisors LLC Buys New Shares in Otis Worldwide Corporation $OTIS

MSH Capital Advisors LLC bought a new stake in Otis Worldwide Corporation (NYSE:OTIS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,755 shares of the company’s stock, valued at approximately $555,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. bought a new stake in Otis Worldwide during the second quarter worth $2,264,017,000. Norges Bank bought a new position in shares of Otis Worldwide in the 4th quarter valued at about $770,125,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Otis Worldwide during the 2nd quarter worth about $423,739,000. Bank of New York Mellon Corp acquired a new position in shares of Otis Worldwide during the 2nd quarter worth about $196,298,000. Finally, Millennium Management LLC raised its holdings in shares of Otis Worldwide by 1,047.0% in the 4th quarter. Millennium Management LLC now owns 2,387,466 shares of the company’s stock valued at $208,545,000 after purchasing an additional 2,179,314 shares during the period. Institutional investors own 88.03% of the company’s stock.

Analyst Upgrades and Downgrades

OTIS has been the topic of several research analyst reports. Sanford C. Bernstein dropped their price objective on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. Evercore reaffirmed an “outperform” rating and set a $95.00 price target on shares of Otis Worldwide in a report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a report on Tuesday, July 28th. UBS Group set a $105.00 price objective on shares of Otis Worldwide in a research report on Thursday, April 23rd. Finally, Barclays dropped their price objective 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. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $92.91.

Otis Worldwide Trading Up 2.6%

Shares of NYSE OTIS opened at $72.15 on Thursday. The company has a market cap of $27.46 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 2.48 and a beta of 0.89. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $94.57. The stock has a 50-day moving average price of $72.59 and a two-hundred day moving average price of $77.76.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. 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. On average, sell-side analysts predict that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s payout ratio is presently 45.24%.

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.