Wealthfront Advisers LLC Acquires New Position in Otis Worldwide Corporation $OTIS

Wealthfront Advisers LLC acquired a new stake in Otis Worldwide Corporation (NYSE:OTIS) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 21,903 shares of the company’s stock, valued at approximately $1,568,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OTIS. Camelot Portfolios LLC purchased a new position in shares of Otis Worldwide during the 4th quarter valued at $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Otis Worldwide during the fourth quarter worth $27,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Otis Worldwide during the fourth quarter valued at $33,000. Reflection Asset Management acquired a new stake in Otis Worldwide during the fourth quarter valued at $34,000. Finally, MidFirst Bank purchased a new position in Otis Worldwide in the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

OTIS opened at $71.77 on Friday. The company has a market cap of $27.32 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 2.54 and a beta of 0.89. The stock has a 50-day moving average of $72.62 and a 200-day moving average of $77.66. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $94.57.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, research analysts predict that Otis Worldwide Corporation will post 4.02 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, August 14th. Otis Worldwide’s dividend payout ratio (DPR) is 45.24%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OTIS. Morgan Stanley set a $75.00 price target on Otis Worldwide in a research note on Monday, August 10th. Royal Bank Of Canada set a $90.00 price target on Otis Worldwide in a research note on Tuesday, July 28th. Evercore restated an “outperform” rating and issued a $95.00 price objective on shares of Otis Worldwide in a report on Thursday, July 23rd. Barclays cut 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. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $92.91.

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.