Western Wealth Management LLC Invests $961,000 in Otis Worldwide Corporation $OTIS

Western Wealth Management LLC bought a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,471 shares of the company’s stock, valued at approximately $961,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp raised its holdings in Otis Worldwide by 0.8% during the 4th quarter. State Street Corp now owns 16,128,197 shares of the company’s stock worth $1,408,798,000 after buying an additional 121,207 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Otis Worldwide by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 10,788,225 shares of the company’s stock worth $945,020,000 after buying an additional 29,636 shares during the period. Norges Bank purchased a new position in shares of Otis Worldwide in the fourth quarter worth approximately $770,125,000. Franklin Resources Inc. increased its position in shares of Otis Worldwide by 5.7% in the fourth quarter. Franklin Resources Inc. now owns 7,842,153 shares of the company’s stock worth $685,012,000 after acquiring an additional 422,519 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Otis Worldwide by 97.9% during the fourth quarter. Van ECK Associates Corp now owns 4,002,589 shares of the company’s stock valued at $349,626,000 after acquiring an additional 1,979,819 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

OTIS stock opened at $71.98 on Monday. The stock has a market cap 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 firm has a 50 day simple moving average of $72.08 and a 200 day simple moving average of $79.31. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $94.57.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Sell-side analysts predict that Otis Worldwide Corporation will post 4 EPS for the current year.

Otis Worldwide Dividend Announcement

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 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, August 14th. Otis Worldwide’s payout ratio is currently 45.24%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on OTIS shares. UBS Group set a $105.00 price target on shares of Otis Worldwide in a research report on Thursday, April 23rd. Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a research report on Tuesday, July 28th. 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. Weiss Ratings cut Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Finally, Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and a consensus price target of $94.09.

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.