Otis Worldwide Corporation $OTIS Shares Sold by Inceptionr LLC

Inceptionr LLC lessened its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 69.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,568 shares of the company’s stock after selling 7,968 shares during the quarter. Inceptionr LLC’s holdings in Otis Worldwide were worth $275,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Camelot Portfolios LLC acquired a new stake in Otis Worldwide during the 4th quarter worth $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in Otis Worldwide in the fourth quarter valued at $27,000. Kohmann Bosshard Financial Services LLC acquired a new position in Otis Worldwide in the fourth quarter valued at $33,000. Reflection Asset Management acquired a new position in Otis Worldwide in the fourth quarter valued at $34,000. Finally, MidFirst Bank purchased a new position in shares of Otis Worldwide during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

Shares of NYSE:OTIS opened at $73.25 on Tuesday. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $94.57. The stock has a market capitalization of $28.11 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 2.58 and a beta of 0.90. The company has a 50-day simple moving average of $71.99 and a 200-day simple moving average of $79.79.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.01. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, research analysts forecast that Otis Worldwide Corporation will post 4 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, August 14th. Otis Worldwide’s dividend payout ratio (DPR) is 45.24%.

Wall Street Analyst Weigh In

OTIS has been the topic of a number of research analyst reports. Royal Bank Of Canada cut their target price on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. UBS Group set a $105.00 price target on Otis Worldwide in a research note on Thursday, April 23rd. Morgan Stanley set a $88.00 price target on Otis Worldwide in a research report on Friday, April 24th. Wolfe Research downgraded Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Finally, Wells Fargo & Company lowered their target price on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 1st. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $95.45.

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.