Janney Montgomery Scott LLC Boosts Holdings in Otis Worldwide Corporation $OTIS

Janney Montgomery Scott LLC lifted its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 68.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 102,204 shares of the company’s stock after purchasing an additional 41,430 shares during the period. Janney Montgomery Scott LLC’s holdings in Otis Worldwide were worth $7,878,000 at the end of the most recent reporting period.

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

Otis Worldwide Trading Down 0.1%

Shares of OTIS opened at $73.08 on Friday. The firm has a market capitalization of $28.04 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 2.60 and a beta of 0.90. The firm’s fifty day simple moving average is $72.90 and its 200-day simple moving average is $81.56. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $101.42.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, analysts predict that Otis Worldwide Corporation will post 4.19 earnings per share for the current fiscal 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 dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s payout ratio is currently 46.81%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OTIS. Morgan Stanley set a $88.00 target price on Otis Worldwide in a report on Friday, April 24th. UBS Group set a $105.00 price target on Otis Worldwide in a report on Thursday, April 23rd. Evercore assumed coverage on Otis Worldwide in a research report on Monday, April 13th. They issued an “outperform” rating and a $100.00 price target on the stock. Wells Fargo & Company decreased their price objective on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Finally, Barclays lowered their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Thursday, April 23rd. 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus 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.