Otis Worldwide Corporation $OTIS Shares Bought by IFP Advisors Inc

IFP Advisors Inc boosted its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 1,158.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 22,404 shares of the company’s stock after acquiring an additional 20,624 shares during the period. IFP Advisors Inc’s holdings in Otis Worldwide were worth $1,957,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Otis Worldwide during the fourth quarter worth $1,224,000. Larson Financial Group LLC raised its position in Otis Worldwide by 15.3% during the fourth quarter. Larson Financial Group LLC now owns 8,713 shares of the company’s stock worth $761,000 after acquiring an additional 1,154 shares during the period. ProShare Advisors LLC raised its position in Otis Worldwide by 6.0% during the fourth quarter. ProShare Advisors LLC now owns 84,758 shares of the company’s stock worth $7,404,000 after acquiring an additional 4,830 shares during the period. TD Private Client Wealth LLC raised its position in Otis Worldwide by 28.2% during the fourth quarter. TD Private Client Wealth LLC now owns 7,179 shares of the company’s stock worth $627,000 after acquiring an additional 1,577 shares during the period. Finally, Gabelli Funds LLC grew its holdings in shares of Otis Worldwide by 5.8% during the fourth quarter. Gabelli Funds LLC now owns 5,200 shares of the company’s stock worth $454,000 after buying an additional 285 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Trading Up 1.6%

Shares of OTIS opened at $72.79 on Friday. Otis Worldwide Corporation has a 12-month low of $69.72 and a 12-month high of $101.42. The firm has a 50-day moving average price of $77.66 and a 200 day moving average price of $85.10. The firm has a market capitalization of $27.93 billion, a P/E ratio of 19.36, a P/E/G ratio of 2.34 and a beta of 0.95.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the company posted $0.92 EPS. The company’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 Corporation will post 4.19 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 15th will be issued a $0.44 dividend. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, May 15th. Otis Worldwide’s payout ratio is currently 46.81%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on OTIS shares. Barclays dropped their target price on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a report on Friday, April 24th. JPMorgan Chase & Co. lowered shares of Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 target price for the company. in a report on Friday, January 30th. Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Finally, Royal Bank Of Canada dropped their target price on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Otis Worldwide presently has a consensus rating of “Hold” and an average target price of $97.64.

Otis Worldwide 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.