Squarepoint Ops LLC Boosts Holdings in Otis Worldwide Corporation $OTIS

Squarepoint Ops LLC raised its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,152,096 shares of the company’s stock after purchasing an additional 122,001 shares during the period. Squarepoint Ops LLC’s holdings in Otis Worldwide were worth $187,986,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OTIS. Jones Financial Companies Lllp lifted its holdings in Otis Worldwide by 3.4% during the first quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock valued at $949,000 after purchasing an additional 304 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Otis Worldwide by 10.5% during the first quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock valued at $928,000 after acquiring an additional 857 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Otis Worldwide by 63.7% during the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock valued at $417,000 after acquiring an additional 1,574 shares during the last quarter. Baird Financial Group Inc. raised its holdings in shares of Otis Worldwide by 7.1% during the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock valued at $3,193,000 after acquiring an additional 2,132 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Otis Worldwide by 13.3% during the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock valued at $1,012,000 after acquiring an additional 1,196 shares during the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Trading Up 0.0%

NYSE:OTIS opened at $70.77 on Monday. The company’s 50-day moving average price is $75.04 and its 200-day moving average price is $83.10. The company has a market cap of $27.16 billion, a P/E ratio of 18.82, a P/E/G ratio of 2.31 and a beta of 0.91. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $101.42.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, analysts expect that Otis Worldwide Corporation will post 4.2 earnings per share for the current year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 15th were paid a $0.44 dividend. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, May 15th. Otis Worldwide’s payout ratio is 46.81%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on OTIS shares. Morgan Stanley set a $88.00 target price on Otis Worldwide in a report on Friday, April 24th. Evercore started coverage on Otis Worldwide in a report on Monday, April 13th. They set an “outperform” rating and a $100.00 target price for the company. Barclays reduced their target price on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. UBS Group set a $105.00 target price on Otis Worldwide in a report on Thursday, April 23rd. Finally, Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Otis Worldwide has an average rating of “Hold” and a consensus price target of $97.58.

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.