Corient Private Wealth LP Invests $19.75 Million in Otis Worldwide Corporation $OTIS

Corient Private Wealth LP bought a new stake in Otis Worldwide Corporation (NYSE:OTIS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 275,783 shares of the company’s stock, valued at approximately $19,747,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its position in Otis Worldwide by 5.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company’s stock worth $202,000 after purchasing an additional 123 shares during the last quarter. Boyd Watterson Asset Management LLC OH raised its holdings in shares of Otis Worldwide by 4.0% in the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company’s stock valued at $281,000 after buying an additional 124 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of Otis Worldwide by 2.7% in the fourth quarter. Moors & Cabot Inc. now owns 4,741 shares of the company’s stock valued at $414,000 after buying an additional 126 shares during the last quarter. Composition Wealth LLC boosted its stake in shares of Otis Worldwide by 4.2% during the fourth quarter. Composition Wealth LLC now owns 3,258 shares of the company’s stock worth $285,000 after buying an additional 131 shares during the period. Finally, Stephens Inc. AR boosted its stake in shares of Otis Worldwide by 2.6% during the fourth quarter. Stephens Inc. AR now owns 5,222 shares of the company’s stock worth $456,000 after buying an additional 132 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Up 0.4%

Shares of NYSE:OTIS opened at $71.77 on Friday. The company has a market cap of $27.32 billion, a P/E ratio of 18.45, a PEG ratio of 2.52 and a beta of 0.89. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $94.57. The company has a 50-day moving average price of $72.54 and a 200 day moving average price of $77.02.

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

Otis Worldwide Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OTIS. Morgan Stanley set a $75.00 price target on Otis Worldwide in a research report on Monday, August 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Sanford C. Bernstein dropped their target price on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 price target on Otis Worldwide in a research note on Tuesday, July 28th. Finally, Evercore reaffirmed an “outperform” rating and set a $95.00 price target on shares of Otis Worldwide in a report on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Otis Worldwide has a consensus rating of “Hold” and a consensus target price of $92.91.

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.