Otis Worldwide Corporation $OTIS Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP raised its stake in Otis Worldwide Corporation (NYSE:OTIS) by 73.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 248,110 shares of the company’s stock after purchasing an additional 104,990 shares during the period. Quantinno Capital Management LP’s holdings in Otis Worldwide were worth $19,124,000 as of its most recent SEC filing.

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

Otis Worldwide Price Performance

NYSE:OTIS opened at $71.98 on Friday. The firm has a market capitalization of $27.40 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.55 and a beta of 0.90. The business has a 50 day simple moving average of $72.08 and a 200 day simple moving average of $79.38. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $94.57.

Otis Worldwide (NYSE:OTIS) last issued its 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 for the quarter, compared to analyst estimates of $3.76 billion. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the company earned $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 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

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

Analyst Ratings Changes

OTIS has been the topic of several research reports. Royal Bank Of Canada set a $90.00 price target on Otis Worldwide in a research report on Tuesday. Weiss Ratings downgraded shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Evercore reiterated an “outperform” rating and set a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Wolfe Research cut shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Finally, Sanford C. Bernstein reduced their price target on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $94.09.

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.