Capstone Investment Advisors LLC Invests $1.42 Million in Otis Worldwide Corporation $OTIS

Capstone Investment Advisors LLC bought a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 19,861 shares of the company’s stock, valued at approximately $1,422,000.

A number of other institutional investors have also recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its stake in shares of Otis Worldwide by 3.4% in the 1st quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock valued at $949,000 after purchasing an additional 304 shares during the last quarter. Empowered Funds LLC raised its holdings in Otis Worldwide by 10.5% during the 1st quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock valued at $928,000 after buying an additional 857 shares during the period. Acadian Asset Management LLC raised its holdings in Otis Worldwide by 63.7% during the 1st quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock valued at $417,000 after buying an additional 1,574 shares during the period. Baird Financial Group Inc. lifted its position in Otis Worldwide by 7.1% in the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock worth $3,193,000 after buying an additional 2,132 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in Otis Worldwide by 13.3% in the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock worth $1,012,000 after buying an additional 1,196 shares during the last quarter. Institutional investors own 88.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Sanford C. Bernstein cut their price objective on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a research report on Tuesday, July 28th. Morgan Stanley set a $75.00 price objective on shares of Otis Worldwide in a research note on Monday, August 10th. Evercore reaffirmed an “outperform” rating and set a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Four research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $92.91.

Otis Worldwide Stock Performance

Shares of OTIS opened at $71.47 on Friday. The stock has a market capitalization of $27.21 billion, a PE ratio of 18.37, a PEG ratio of 2.55 and a beta of 0.89. The company has a 50 day moving average price of $72.57 and a 200-day moving average price of $77.06. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $94.57.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the firm earned $1.05 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Equities research analysts forecast that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders 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 payout ratio is currently 45.24%.

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.