J. Safra Sarasin Holding AG Reduces Holdings in Otis Worldwide Corporation $OTIS

J. Safra Sarasin Holding AG lowered its position in Otis Worldwide Corporation (NYSE:OTIS) by 6.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 337,541 shares of the company’s stock after selling 23,632 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Otis Worldwide were worth $26,018,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Applied Finance Capital Management LLC grew its stake in shares of Otis Worldwide by 3.3% during the first quarter. Applied Finance Capital Management LLC now owns 13,376 shares of the company’s stock valued at $1,031,000 after acquiring an additional 428 shares in the last quarter. Lifeworks Advisors LLC increased its position in shares of Otis Worldwide by 3.1% during the first quarter. Lifeworks Advisors LLC now owns 51,397 shares of the company’s stock worth $3,962,000 after acquiring an additional 1,543 shares during the last quarter. Procyon Advisors LLC lifted its stake in shares of Otis Worldwide by 16.0% in the first quarter. Procyon Advisors LLC now owns 38,122 shares of the company’s stock worth $2,938,000 after acquiring an additional 5,265 shares in the last quarter. ARQ Wealth Advisors LLC lifted its stake in shares of Otis Worldwide by 432.4% in the first quarter. ARQ Wealth Advisors LLC now owns 15,526 shares of the company’s stock worth $1,197,000 after acquiring an additional 12,610 shares in the last quarter. Finally, Diversify Wealth Management LLC boosted its holdings in Otis Worldwide by 25.5% in the first quarter. Diversify Wealth Management LLC now owns 15,805 shares of the company’s stock valued at $1,211,000 after purchasing an additional 3,208 shares during the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Trading Down 0.1%

OTIS stock opened at $73.03 on Monday. The stock’s 50 day simple moving average is $72.41 and its 200 day simple moving average is $80.99. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $101.42. The firm has a market cap of $28.02 billion, a P/E ratio of 19.42, a P/E/G ratio of 2.60 and a beta of 0.90.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the firm earned $0.92 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, research analysts forecast that Otis Worldwide Corporation will post 4.19 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.4%. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, May 15th. Otis Worldwide’s dividend payout ratio (DPR) is currently 46.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Sanford C. Bernstein began coverage on Otis Worldwide in a research note on Tuesday, June 9th. They set an “outperform” rating and a $97.00 price objective for the company. Barclays reduced their target price on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Thursday, April 23rd. Wells Fargo & Company decreased their price target on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 1st. Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a research note on Friday, April 24th. Finally, Weiss Ratings downgraded shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $97.58.

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.