First Eagle Investment Management LLC Has $14.74 Million Position in Otis Worldwide Corporation $OTIS

First Eagle Investment Management LLC lifted its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 5.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 205,863 shares of the company’s stock after purchasing an additional 9,830 shares during the period. First Eagle Investment Management LLC’s holdings in Otis Worldwide were worth $14,740,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Garton & Associates Financial Advisors LLC acquired a new position in Otis Worldwide during the 4th quarter worth about $27,000. Orion Capital Management LLC bought a new stake in Otis Worldwide during the 2nd quarter worth about $27,000. MidFirst Bank acquired a new stake in Otis Worldwide in the 2nd quarter valued at about $28,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Otis Worldwide in the 2nd quarter valued at about $28,000. Finally, Elevation Wealth Partners LLC raised its stake in shares of Otis Worldwide by 1,910.0% in the second quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock worth $29,000 after acquiring an additional 382 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Price Performance

Shares of NYSE:OTIS opened at $71.19 on Monday. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $94.57. The company has a 50 day moving average of $72.37 and a 200-day moving average of $76.27. The stock has a market cap of $27.10 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 2.51 and a beta of 0.88.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share 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 business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. Otis Worldwide’s revenue for the quarter 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 anticipate that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada set a $90.00 target price on shares of Otis Worldwide in a research report on Tuesday, July 28th. Sanford C. Bernstein dropped their price objective on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Morgan Stanley set a $75.00 price objective on Otis Worldwide in a research report on Monday, August 10th. Finally, Evercore reissued an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $92.91.

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.