12,232 Shares in Otis Worldwide Corporation $OTIS Purchased by Global Retirement Partners LLC

Global Retirement Partners LLC bought a new stake in Otis Worldwide Corporation (NYSE:OTIS) during the second quarter, HoldingsChannel.com reports. The fund bought 12,232 shares of the company’s stock, valued at approximately $876,000.

Several other institutional investors have also recently bought and sold shares of OTIS. Camelot Portfolios LLC bought a new position in shares of Otis Worldwide during the 4th quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC acquired a new position in Otis Worldwide during the fourth quarter worth $27,000. Kohmann Bosshard Financial Services LLC bought a new position in Otis Worldwide in the fourth quarter valued at $33,000. Reflection Asset Management bought a new position in Otis Worldwide in the fourth quarter valued at $34,000. Finally, MidFirst Bank acquired a new stake in Otis Worldwide in the 4th quarter valued at $35,000. Institutional investors own 88.03% of the company’s stock.

Wall Street Analysts Forecast Growth

OTIS has been the topic of several analyst reports. UBS Group set a $105.00 price target on shares of Otis Worldwide in a research report on Thursday, April 23rd. Evercore reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a research report on Thursday, July 23rd. Morgan Stanley set a $75.00 target price on Otis Worldwide in a report on Monday, August 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Finally, Barclays decreased their price target on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $92.91.

Otis Worldwide Stock Down 0.1%

Shares of NYSE:OTIS opened at $70.50 on Wednesday. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $94.57. The business has a 50 day moving average of $72.54 and a 200-day moving average of $77.86. The stock has a market cap of $26.84 billion, a PE ratio of 18.12, a P/E/G ratio of 2.56 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last announced its 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 quarter in the previous year, the business posted $1.05 earnings per share. Otis Worldwide’s quarterly 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. Equities research analysts expect that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. Otis Worldwide’s dividend payout ratio is currently 45.24%.

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.