Vise Technologies Inc. Takes Position in Otis Worldwide Corporation $OTIS

Vise Technologies Inc. bought a new position in Otis Worldwide Corporation (NYSE:OTIS) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 8,463 shares of the company’s stock, valued at approximately $606,000.

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

Wall Street Analysts Forecast Growth

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

Otis Worldwide Trading Up 1.0%

NYSE OTIS opened at $72.18 on Tuesday. The firm has a market cap of $27.48 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. Otis Worldwide Corporation has a 1-year low of $69.16 and a 1-year high of $94.57. The stock has a 50-day moving average of $72.64 and a 200-day moving average of $77.45.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate 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 in the previous 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, equities research analysts forecast that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The company also recently announced 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. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s payout ratio is presently 45.24%.

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.