Cambient Family Office LLC Purchases Shares of 31,153 Otis Worldwide Corporation $OTIS

Cambient Family Office LLC purchased a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 31,153 shares of the company’s stock, valued at approximately $2,721,000.

A number of other large investors also recently modified their holdings of the business. Smartleaf Asset Management LLC grew its holdings in shares of Otis Worldwide by 5.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company’s stock valued at $202,000 after acquiring an additional 123 shares in the last quarter. Boyd Watterson Asset Management LLC OH raised its holdings in Otis Worldwide by 4.0% during the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company’s stock worth $281,000 after acquiring an additional 124 shares in the last quarter. Moors & Cabot Inc. raised its holdings in Otis Worldwide by 2.7% during the fourth quarter. Moors & Cabot Inc. now owns 4,741 shares of the company’s stock worth $414,000 after acquiring an additional 126 shares in the last quarter. Composition Wealth LLC boosted its position in Otis Worldwide by 4.2% during the fourth quarter. Composition Wealth LLC now owns 3,258 shares of the company’s stock valued at $285,000 after purchasing an additional 131 shares during the last quarter. Finally, Cary Street Partners Financial LLC boosted its position in Otis Worldwide by 2.6% during the third quarter. Cary Street Partners Financial LLC now owns 5,165 shares of the company’s stock valued at $472,000 after purchasing an additional 132 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Weiss Ratings downgraded Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a research note on Friday, April 24th. Evercore started coverage on Otis Worldwide in a report on Monday, April 13th. They issued an “outperform” rating and a $100.00 price objective for the company. Wells Fargo & Company decreased their target price on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Finally, Barclays lowered their target price on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $97.58.

Otis Worldwide Stock Performance

Shares of NYSE:OTIS opened at $73.22 on Friday. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $101.42. The company has a market capitalization of $28.09 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 2.37 and a beta of 0.91. The company has a 50-day simple moving average of $74.63 and a 200 day simple moving average of $82.66.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.77 billion. Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.Otis Worldwide’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, equities analysts forecast that Otis Worldwide Corporation will post 4.2 earnings per share for the current year.

Otis Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were issued 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 was Friday, May 15th. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s payout ratio is presently 46.81%.

About Otis Worldwide

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.