Otis Worldwide Corporation (NYSE:OTIS) Plans Quarterly Dividend of $0.44

Otis Worldwide Corporation (NYSE:OTIS) declared a quarterly dividend on Tuesday, April 21st. Investors of record on Friday, May 15th will be given a dividend of 0.44 per share on Friday, June 12th. This represents a c) annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, May 15th. This is a 4.8% increase from Otis Worldwide’s previous quarterly dividend of $0.42.

Otis Worldwide has increased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 5 years. Otis Worldwide has a dividend payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Otis Worldwide to earn $4.75 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 35.4%.

Otis Worldwide Stock Performance

OTIS opened at $78.90 on Wednesday. The stock has a market capitalization of $30.67 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.47 and a beta of 1.05. The company has a fifty day moving average of $84.21 and a 200 day moving average of $87.49. Otis Worldwide has a fifty-two week low of $75.27 and a fifty-two week high of $101.42.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.19). The company had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Otis Worldwide had a net margin of 9.59% and a negative return on equity of 30.42%. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, equities research analysts forecast that Otis Worldwide will post 4.23 earnings per share for the current year.

Insider Buying and Selling at Otis Worldwide

In other Otis Worldwide news, CEO Judith Fran Marks sold 56,107 shares of Otis Worldwide stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $90.89, for a total value of $5,099,565.23. Following the completion of the transaction, the chief executive officer directly owned 231,072 shares of the company’s stock, valued at $21,002,134.08. This trade represents a 19.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Michael Patrick Ryan sold 1,182 shares of Otis Worldwide stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $90.06, for a total transaction of $106,450.92. Following the completion of the transaction, the chief accounting officer directly owned 3,504 shares of the company’s stock, valued at $315,570.24. The trade was a 25.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 158,013 shares of company stock valued at $14,337,635. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On Otis Worldwide

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Otis Worldwide during the 4th quarter worth about $770,125,000. Millennium Management LLC boosted its stake in shares of Otis Worldwide by 1,047.0% during the 4th quarter. Millennium Management LLC now owns 2,387,466 shares of the company’s stock worth $208,545,000 after purchasing an additional 2,179,314 shares during the period. Van ECK Associates Corp boosted its stake in shares of 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 during the period. AQR Capital Management LLC boosted its stake in shares of 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 during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of 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 purchasing an additional 1,352,530 shares during the period. 88.03% of the stock is owned by hedge funds and other institutional investors.

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.