Bryn Mawr Trust Advisors LLC Takes Position in Otis Worldwide Corporation $OTIS

Bryn Mawr Trust Advisors LLC purchased a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 57,503 shares of the company’s stock, valued at approximately $5,023,000.

Several other institutional investors and hedge funds have also modified their holdings of OTIS. Oakworth Capital Inc. boosted its holdings in Otis Worldwide by 49.1% in the third quarter. Oakworth Capital Inc. now owns 343 shares of the company’s stock worth $31,000 after purchasing an additional 113 shares in the last quarter. Cookson Peirce & Co. Inc. boosted its holdings in Otis Worldwide by 1.8% in the third quarter. Cookson Peirce & Co. Inc. now owns 6,615 shares of the company’s stock worth $605,000 after purchasing an additional 115 shares in the last quarter. Physician Wealth Advisors Inc. boosted its holdings in Otis Worldwide by 57.7% in the third quarter. Physician Wealth Advisors Inc. now owns 339 shares of the company’s stock worth $31,000 after purchasing an additional 124 shares in the last quarter. Composition Wealth LLC boosted its holdings in Otis Worldwide by 4.2% in the fourth quarter. Composition Wealth LLC now owns 3,258 shares of the company’s stock worth $285,000 after purchasing an additional 131 shares in the last quarter. Finally, Cary Street Partners Financial LLC boosted its holdings in Otis Worldwide by 2.6% in the third quarter. Cary Street Partners Financial LLC now owns 5,165 shares of the company’s stock worth $472,000 after purchasing an additional 132 shares in the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Otis Worldwide

In other news, insider Montlivault Stephane De sold 47,944 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $92.25, for a total transaction of $4,422,834.00. Following the completion of the transaction, the insider owned 29,176 shares of the company’s stock, valued at approximately $2,691,486. This represents a 62.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael Patrick Ryan sold 1,182 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $90.06, for a total transaction of $106,450.92. Following the transaction, the chief accounting officer directly owned 3,504 shares of the company’s stock, valued at $315,570.24. This represents a 25.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is currently owned by corporate insiders.

Otis Worldwide Price Performance

OTIS stock opened at $74.83 on Friday. Otis Worldwide Corporation has a 52-week low of $74.62 and a 52-week high of $101.42. The company has a 50-day moving average of $81.47 and a two-hundred day moving average of $86.57. The stock has a market capitalization of $28.71 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 2.45 and a beta of 0.95.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the company earned $0.92 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Equities analysts expect that Otis Worldwide Corporation will post 4.18 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, May 15th. Otis Worldwide’s dividend payout ratio is currently 44.68%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Morgan Stanley set a $88.00 price objective on shares of Otis Worldwide in a report on Friday, April 24th. Royal Bank Of Canada decreased their price objective 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. Wells Fargo & Company decreased their price objective on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. JPMorgan Chase & Co. cut shares of Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 price objective for the company. in a report on Friday, January 30th. Finally, Wall Street Zen cut shares of Otis Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $97.64.

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.