9,706 Shares in Otis Worldwide Corporation $OTIS Bought by Principle Wealth Partners LLC

Principle Wealth Partners LLC bought a new stake in Otis Worldwide Corporation (NYSE:OTIS) during the second quarter, according to its most recent filing with the SEC. The firm bought 9,706 shares of the company’s stock, valued at approximately $695,000.

Several other institutional investors have also recently bought and sold shares of OTIS. Camelot Portfolios LLC acquired a new position in Otis Worldwide during the 4th quarter worth $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Otis Worldwide in the fourth quarter valued at about $27,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Otis Worldwide in the fourth quarter valued at about $33,000. Reflection Asset Management bought a new position in shares of Otis Worldwide in the fourth quarter worth about $34,000. Finally, MidFirst Bank bought a new position in shares of Otis Worldwide in the fourth quarter worth about $35,000. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Down 2.9%

Shares of OTIS opened at $70.53 on Tuesday. The stock has a market cap of $26.85 billion, a price-to-earnings ratio of 18.13, a P/E/G ratio of 2.56 and a beta of 0.89. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $94.57. The company has a 50-day moving average price of $72.56 and a two-hundred day moving average price of $77.99.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the business earned $1.05 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Equities research analysts expect that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 annualized dividend and a yield of 2.5%. Otis Worldwide’s payout ratio is currently 45.24%.

Analysts Set New Price Targets

A number of research firms have issued reports on OTIS. Evercore reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a report on Thursday, July 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. UBS Group set a $105.00 target price on Otis Worldwide in a research note on Thursday, April 23rd. Morgan Stanley set a $75.00 target price on Otis Worldwide in a research report on Monday, August 10th. Finally, Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a research note on Tuesday, July 28th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $92.91.

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.