Emmett Investment Management LP Takes Position in Otis Worldwide Corporation $OTIS

Emmett Investment Management LP purchased a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 19,525 shares of the company’s stock, valued at approximately $1,512,000. Otis Worldwide makes up approximately 1.2% of Emmett Investment Management LP’s investment portfolio, making the stock its 24th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OTIS. Pinnacle Financial Partners Inc. grew its holdings in Otis Worldwide by 19.6% in the third quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock worth $7,085,000 after purchasing an additional 12,721 shares during the period. Oak Thistle LLC purchased a new position in shares of Otis Worldwide during the fourth quarter valued at approximately $2,046,000. Capital Research Global Investors boosted its position in shares of Otis Worldwide by 0.6% in the 4th quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock worth $248,417,000 after purchasing an additional 18,189 shares in the last quarter. Coerente Capital Management boosted its position in shares of Otis Worldwide by 11.1% in the 4th quarter. Coerente Capital Management now owns 180,066 shares of the company’s stock worth $15,729,000 after purchasing an additional 18,038 shares in the last quarter. Finally, Louisbourg Investments Inc. boosted its position in shares of Otis Worldwide by 29.0% in the 4th quarter. Louisbourg Investments Inc. now owns 76,277 shares of the company’s stock worth $6,663,000 after purchasing an additional 17,146 shares in the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Trading Up 1.8%

Shares of OTIS opened at $73.25 on Tuesday. The company has a market cap of $28.11 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 2.58 and a beta of 0.90. The business’s fifty day simple moving average is $71.99 and its two-hundred day simple moving average is $79.79. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $94.57.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. The firm had revenue of $3.86 billion during 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 company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $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 year.

Otis Worldwide Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a research report on Friday, April 24th. UBS Group set a $105.00 target price on Otis Worldwide in a research note on Thursday, April 23rd. Weiss Ratings downgraded Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Barclays reduced their price target on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Finally, Wells Fargo & Company lowered their price target on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 1st. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.45.

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.