Otis Worldwide Corporation $OTIS Stock Sold by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. lowered its stake in Otis Worldwide Corporation (NYSE:OTIS) by 97.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,254 shares of the company’s stock after selling 140,479 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Otis Worldwide were worth $274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of OTIS. Elevation Wealth Partners LLC boosted its stake in shares of Otis Worldwide by 70.6% during the third quarter. Elevation Wealth Partners LLC now owns 686 shares of the company’s stock valued at $44,000 after purchasing an additional 284 shares during the period. Cooper Financial Group increased its stake in shares of Otis Worldwide by 11.9% in the third quarter. Cooper Financial Group now owns 9,762 shares of the company’s stock worth $628,000 after buying an additional 1,039 shares during the period. Canandaigua National Trust Co of Florida bought a new stake in Otis Worldwide during the 3rd quarter valued at $801,000. Canandaigua National Bank & Trust Co. boosted its position in Otis Worldwide by 9.7% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 40,227 shares of the company’s stock valued at $2,587,000 after buying an additional 3,564 shares during the period. Finally, Moody National Bank Trust Division boosted its position in Otis Worldwide by 67.7% during the 3rd quarter. Moody National Bank Trust Division now owns 6,029 shares of the company’s stock valued at $388,000 after buying an additional 2,433 shares during the period. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

Shares of OTIS traded down $0.09 on Thursday, reaching $65.65. The stock had a trading volume of 1,163,530 shares, compared to its average volume of 3,858,846. Otis Worldwide Corporation has a 12-month low of $63.58 and a 12-month high of $94.57. The firm has a market capitalization of $24.99 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 2.33 and a beta of 0.87. The company has a 50-day simple moving average of $69.99 and a 200-day simple moving average of $72.89.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period last year, the company posted $1.05 EPS. Otis Worldwide’s revenue was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, analysts expect that Otis Worldwide Corporation will post 4.04 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 14th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.7%. Otis Worldwide’s dividend payout ratio (DPR) is 45.24%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OTIS. Wells Fargo & Company started coverage on shares of Otis Worldwide in a report on Thursday, September 24th. They set an “underweight” rating and a $77.00 target price for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Sanford C. Bernstein reissued an “outperform” rating on shares of Otis Worldwide in a research note on Monday, September 21st. Morgan Stanley set a $75.00 price target on shares of Otis Worldwide in a report on Monday, August 10th. Finally, Evercore restated an “outperform” rating and issued a $95.00 price objective on shares of Otis Worldwide in a report on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Otis Worldwide presently has a consensus rating of “Hold” and a consensus target price of $91.00.

Otis Worldwide Profile

Otis Worldwide Corporation (NYSE: OTIS) is a global manufacturer and service provider focused on elevator and escalator systems. The company designs, manufactures, installs and maintains elevators, escalators and moving walkways for commercial buildings, residential properties, transportation hubs and other infrastructure.

Its offerings include passenger and freight elevators, escalators, moving walkways, digital monitoring solutions and related components. Otis also provides ongoing maintenance, repair, modernization and replacement services, which support the performance and safety of equipment throughout its operating life.

The company traces its origins to 1853, when Elisha Graves Otis demonstrated a safety elevator that helped make taller buildings practical.