EP Wealth Advisors LLC Acquires Shares of 9,968 Otis Worldwide Corporation $OTIS

EP Wealth Advisors LLC bought a new position in Otis Worldwide Corporation (NYSE:OTIS) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 9,968 shares of the company’s stock, valued at approximately $714,000.

Several other hedge funds have also made changes to their positions in OTIS. Ieq Capital LLC purchased a new position in Otis Worldwide during the 2nd quarter worth approximately $4,848,000. Callan Family Office LLC acquired a new stake in Otis Worldwide during the 2nd quarter valued at $320,000. Shelter Mutual Insurance Co purchased a new stake in shares of Otis Worldwide in the second quarter valued at $2,234,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Otis Worldwide in the second quarter valued at $29,000. Finally, Allworth Financial LP acquired a new stake in shares of Otis Worldwide in the second quarter worth $3,121,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Wall Street Analyst Weigh In

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

Otis Worldwide Trading Up 1.0%

Shares of NYSE:OTIS opened at $72.18 on Tuesday. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The business has a fifty day simple moving average of $72.64 and a 200 day simple moving average of $77.45. The firm has a market cap of $27.48 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 2.52 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.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 company posted $1.05 earnings per share. The business’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. On average, sell-side analysts forecast that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. Otis Worldwide’s payout ratio is presently 45.24%.

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.