Two Sigma Securities LLC Sells 22,373 Shares of Otis Worldwide Corporation $OTIS

Two Sigma Securities LLC cut its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 79.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,710 shares of the company’s stock after selling 22,373 shares during the quarter. Two Sigma Securities LLC’s holdings in Otis Worldwide were worth $409,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on OTIS shares. Morgan Stanley set a $75.00 price target on Otis Worldwide in a research report on Monday, August 10th. Evercore reissued an “outperform” rating and set a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 target price on Otis Worldwide in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Finally, Sanford C. Bernstein cut their price target on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Four equities 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 company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $92.91.

Otis Worldwide Price Performance

Shares of NYSE OTIS opened at $70.86 on Thursday. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The stock has a market capitalization of $26.97 billion, a P/E ratio of 18.21, a P/E/G ratio of 2.49 and a beta of 0.88. The company’s 50-day moving average is $72.45 and its 200 day moving average is $76.53.

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

Otis Worldwide Dividend Announcement

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

Otis Worldwide Profile

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.