Otis Worldwide Corporation (OTIS) to Issue Quarterly Dividend of $0.44 on June 12th

Otis Worldwide Corporation (NYSE:OTIS) declared a quarterly dividend on Tuesday, April 21st. Stockholders of record on Friday, May 15th will be paid a dividend of 0.44 per share on Friday, June 12th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, May 15th. This is a 4.8% increase from Otis Worldwide’s previous quarterly dividend of $0.42.

Otis Worldwide has increased its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Otis Worldwide has a payout ratio of 39.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Otis Worldwide to earn $4.68 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 37.6%.

Otis Worldwide Trading Up 0.2%

Shares of OTIS opened at $74.18 on Wednesday. Otis Worldwide has a 12 month low of $73.11 and a 12 month high of $101.42. The firm’s 50 day moving average is $80.46 and its 200-day moving average is $86.20. The stock has a market capitalization of $28.46 billion, a PE ratio of 19.73, a P/E/G ratio of 2.43 and a beta of 0.95.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the business posted $0.92 earnings per share. The firm’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. Equities research analysts predict that Otis Worldwide will post 4.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Otis Worldwide news, insider Montlivault Stephane De sold 47,944 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $92.25, for a total value of $4,422,834.00. Following the sale, the insider owned 29,176 shares in the company, valued at $2,691,486. This trade represents a 62.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of Otis Worldwide

A number of hedge funds have recently added to or reduced their stakes in OTIS. Norges Bank acquired a new stake in Otis Worldwide in the fourth quarter valued at approximately $770,125,000. Millennium Management LLC boosted its position in Otis Worldwide by 1,047.0% in the fourth quarter. Millennium Management LLC now owns 2,387,466 shares of the company’s stock valued at $208,545,000 after buying an additional 2,179,314 shares in the last quarter. Van ECK Associates Corp boosted its position in Otis Worldwide by 97.9% in the fourth quarter. Van ECK Associates Corp now owns 4,002,589 shares of the company’s stock valued at $349,626,000 after buying an additional 1,979,819 shares in the last quarter. AQR Capital Management LLC boosted its position in Otis Worldwide by 125.7% in the third quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company’s stock valued at $236,891,000 after buying an additional 1,445,904 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in Otis Worldwide by 199.6% in the third quarter. Squarepoint Ops LLC now owns 2,030,095 shares of the company’s stock valued at $185,612,000 after buying an additional 1,352,530 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

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.