Stevens Capital Management LP Purchases Shares of 11,528 Otis Worldwide Corporation $OTIS

Stevens Capital Management LP acquired a new position in Otis Worldwide Corporation (NYSE:OTIS) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 11,528 shares of the company’s stock, valued at approximately $1,007,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Oakworth Capital Inc. lifted its position in Otis Worldwide by 49.1% during the third quarter. Oakworth Capital Inc. now owns 343 shares of the company’s stock valued at $31,000 after buying an additional 113 shares in the last quarter. Cookson Peirce & Co. Inc. raised its stake in shares of Otis Worldwide by 1.8% in the 3rd quarter. Cookson Peirce & Co. Inc. now owns 6,615 shares of the company’s stock valued at $605,000 after acquiring an additional 115 shares during the period. Physician Wealth Advisors Inc. raised its stake in shares of Otis Worldwide by 57.7% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 339 shares of the company’s stock valued at $31,000 after acquiring an additional 124 shares during the period. Composition Wealth LLC lifted its holdings in shares of Otis Worldwide by 4.2% during the 4th quarter. Composition Wealth LLC now owns 3,258 shares of the company’s stock valued at $285,000 after acquiring an additional 131 shares in the last quarter. Finally, Cary Street Partners Financial LLC lifted its holdings in shares of Otis Worldwide by 2.6% during the 3rd quarter. Cary Street Partners Financial LLC now owns 5,165 shares of the company’s stock valued at $472,000 after acquiring an additional 132 shares in the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on OTIS. Barclays lowered their price target on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company 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 target price for the company. Wells Fargo & Company lowered their target price 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. UBS Group set a $105.00 target price on Otis Worldwide in a report on Thursday, April 23rd. Finally, New Street Research set a $98.00 price target on Otis Worldwide in a research report on Friday, January 30th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Otis Worldwide presently has an average rating of “Hold” and an average price target of $97.64.

Insider Buying and Selling at Otis Worldwide

In other Otis Worldwide news, insider Montlivault Stephane De sold 47,944 shares of Otis Worldwide stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $92.25, for a total transaction of $4,422,834.00. Following the sale, the insider directly owned 29,176 shares in the company, valued at $2,691,486. The trade was a 62.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Judith Fran Marks sold 56,107 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $90.89, for a total transaction of $5,099,565.23. Following the sale, the chief executive officer directly owned 231,072 shares of the company’s stock, valued at $21,002,134.08. The trade was a 19.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 105,233 shares of company stock worth $9,628,850 in the last 90 days. 0.14% of the stock is owned by corporate insiders.

Otis Worldwide Price Performance

Shares of OTIS stock opened at $75.62 on Wednesday. The company’s fifty day moving average price is $81.99 and its two-hundred day moving average price is $86.77. The firm has a market capitalization of $29.02 billion, a P/E ratio of 20.11, a P/E/G ratio of 2.49 and a beta of 0.95. Otis Worldwide Corporation has a 12 month low of $75.27 and a 12 month high of $101.42.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share 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 business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. The firm’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. On average, sell-side analysts anticipate that Otis Worldwide Corporation will post 4.18 EPS for the current year.

Otis Worldwide Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.44 per share. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a yield of 2.3%. Otis Worldwide’s payout ratio is 44.68%.

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.