Virtu Financial LLC Makes New $890,000 Investment in Otis Worldwide Corporation $OTIS

Virtu Financial LLC bought a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 10,185 shares of the company’s stock, valued at approximately $890,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Otis Worldwide during the fourth quarter worth about $770,125,000. Millennium Management LLC grew its position in shares of Otis Worldwide by 1,047.0% in the 4th quarter. Millennium Management LLC now owns 2,387,466 shares of the company’s stock valued at $208,545,000 after purchasing an additional 2,179,314 shares during the period. Van ECK Associates Corp increased its stake in Otis Worldwide by 97.9% during the 4th quarter. Van ECK Associates Corp now owns 4,002,589 shares of the company’s stock worth $349,626,000 after purchasing an additional 1,979,819 shares in the last quarter. AQR Capital Management LLC increased its stake in Otis Worldwide by 125.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company’s stock worth $236,891,000 after purchasing an additional 1,445,904 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in Otis Worldwide by 199.6% during the 3rd quarter. Squarepoint Ops LLC now owns 2,030,095 shares of the company’s stock worth $185,612,000 after buying an additional 1,352,530 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OTIS has been the topic of a number of research reports. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Sanford C. Bernstein began coverage on shares of Otis Worldwide in a research report on Tuesday, June 9th. They set an “outperform” rating and a $97.00 price objective for the company. Evercore began coverage on shares of Otis Worldwide in a report on Monday, April 13th. They set an “outperform” rating and a $100.00 price objective on the stock. Royal Bank Of Canada dropped their price objective on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Finally, Barclays cut their price objective on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Otis Worldwide has an average rating of “Hold” and an average target price of $97.58.

Otis Worldwide Stock Performance

Shares of Otis Worldwide stock opened at $73.22 on Monday. The business’s 50 day simple moving average is $74.51 and its 200 day simple moving average is $82.55. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $101.42. The firm has a market cap of $28.09 billion, a PE ratio of 19.47, a P/E/G ratio of 2.39 and a beta of 0.91.

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

Otis Worldwide Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 15th were given a $0.44 dividend. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, May 15th. Otis Worldwide’s payout ratio is presently 46.81%.

Otis Worldwide Company 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.