11,462 Shares in Otis Worldwide Corporation $OTIS Purchased by Western Wealth Management LLC

Western Wealth Management LLC purchased a new position in Otis Worldwide Corporation (NYSE:OTIS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,462 shares of the company’s stock, valued at approximately $821,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Pinnacle Financial Partners Inc. increased its stake in shares of Otis Worldwide by 19.6% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock worth $7,085,000 after acquiring an additional 12,721 shares in the last quarter. Capital Research Global Investors boosted its stake in Otis Worldwide by 0.6% during the fourth quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock worth $248,417,000 after acquiring an additional 18,189 shares in the last quarter. Lazard Freres Gestion S.A.S. grew its holdings in Otis Worldwide by 21.9% in the fourth quarter. Lazard Freres Gestion S.A.S. now owns 1,309,160 shares of the company’s stock worth $114,355,000 after purchasing an additional 235,316 shares during the period. Banco Santander S.A. grew its holdings in Otis Worldwide by 1,153.2% in the second quarter. Banco Santander S.A. now owns 106,257 shares of the company’s stock worth $7,608,000 after purchasing an additional 97,778 shares during the period. Finally, Danske Bank A S grew its holdings in Otis Worldwide by 13.3% in the fourth quarter. Danske Bank A S now owns 225,994 shares of the company’s stock worth $19,741,000 after purchasing an additional 26,500 shares during the period. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Otis Worldwide Price Performance

Shares of NYSE:OTIS opened at $71.56 on Wednesday. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The company has a market cap of $27.24 billion, a P/E ratio of 18.40, a PEG ratio of 2.54 and a beta of 0.89. The stock’s fifty day moving average price is $72.61 and its 200-day moving average price is $77.32.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.76 billion. During the same period last year, the company earned $1.05 EPS. Otis Worldwide’s revenue for the quarter was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, sell-side analysts anticipate that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders 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 dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s dividend payout ratio (DPR) is presently 45.24%.

Analysts Set New Price Targets

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