United Capital Financial Advisors LLC Acquires Shares of 9,942 Otis Worldwide Corporation $OTIS

United Capital Financial Advisors LLC bought a new position in Otis Worldwide Corporation (NYSE:OTIS) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,942 shares of the company’s stock, valued at approximately $712,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Otis Worldwide during the second quarter valued at approximately $2,264,017,000. State Street Corp raised its holdings in Otis Worldwide by 0.8% in the 4th quarter. State Street Corp now owns 16,128,197 shares of the company’s stock worth $1,408,798,000 after acquiring an additional 121,207 shares during the last quarter. Geode Capital Management LLC raised its holdings in Otis Worldwide by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 10,788,225 shares of the company’s stock worth $945,020,000 after acquiring an additional 29,636 shares during the last quarter. Norges Bank bought a new position in Otis Worldwide in the 4th quarter valued at approximately $770,125,000. Finally, Franklin Resources Inc. lifted its position in Otis Worldwide by 5.7% in the 4th quarter. Franklin Resources Inc. now owns 7,842,153 shares of the company’s stock valued at $685,012,000 after acquiring an additional 422,519 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on OTIS shares. Evercore reissued an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a research report on Tuesday, July 28th. Morgan Stanley set a $75.00 price objective on Otis Worldwide in a report on Monday, August 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Finally, Sanford C. Bernstein decreased their target price on 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 assigned a Sell rating to the stock. According to data from MarketBeat, Otis Worldwide presently has an average rating of “Hold” and a consensus price target of $92.91.

Otis Worldwide Trading Up 0.0%

NYSE:OTIS opened at $71.77 on Monday. The company has a market cap of $27.32 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 2.53 and a beta of 0.89. The company has a 50 day simple moving average of $72.54 and a two-hundred day simple moving average of $76.94. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $94.57.

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 negative return on equity of 28.50% and a net margin of 10.17%.The company’s revenue was up 7.3% compared to the same quarter last year. 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. Research analysts forecast that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. Otis Worldwide’s dividend payout ratio is currently 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.