Virtu Financial LLC Makes New Investment in Otis Worldwide Corporation $OTIS

Virtu Financial LLC bought a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,185 shares of the company’s stock, valued at approximately $890,000.

Other hedge funds have also modified their holdings of the company. MV Capital Management Inc. acquired a new position in Otis Worldwide during the 4th quarter worth $79,000. Cambient Family Office LLC bought a new stake in shares of Otis Worldwide during the fourth quarter worth $2,721,000. Wick Capital Partners LLC bought a new position in Otis Worldwide in the fourth quarter valued at about $161,000. Vancity Investment Management Ltd boosted its holdings in Otis Worldwide by 24.4% in the fourth quarter. Vancity Investment Management Ltd now owns 5,044 shares of the company’s stock valued at $441,000 after acquiring an additional 990 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in Otis Worldwide by 15.5% in the fourth quarter. Corient Private Wealth LLC now owns 151,180 shares of the company’s stock valued at $13,053,000 after acquiring an additional 20,289 shares during the last quarter. 88.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on OTIS. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. UBS Group set a $105.00 price target on shares of Otis Worldwide in a research report on Thursday, April 23rd. Sanford C. Bernstein started coverage on shares of Otis Worldwide in a research note on Tuesday, June 9th. They set an “outperform” rating and a $97.00 price target for the company. Wells Fargo & Company cut their price objective on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. Finally, Morgan Stanley set a $88.00 price objective on shares of Otis Worldwide in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $97.58.

Otis Worldwide Trading Down 0.1%

NYSE OTIS opened at $73.22 on Monday. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $101.42. The stock has a 50-day simple moving average of $74.51 and a 200 day simple moving average of $82.55. The company has a market capitalization of $28.09 billion, a PE ratio of 19.47, a P/E/G ratio of 2.39 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.77 billion. Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.Otis Worldwide’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, sell-side analysts predict that Otis Worldwide Corporation will post 4.2 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s payout ratio is 46.81%.

Otis Worldwide Company 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.