Oxbow Advisors LLC Boosts Holdings in Otis Worldwide Corporation $OTIS

by · The Markets Daily

Oxbow Advisors LLC grew its stake in Otis Worldwide Corporation (NYSE:OTIS – Free Report) by 97.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,449 shares of the company’s stock after purchasing an additional 30,743 shares during the quarter. Oxbow Advisors LLC’s holdings in Otis Worldwide were worth $4,814,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. State Street Corp increased its stake in shares of Otis Worldwide by 0.8% during the fourth quarter. State Street Corp now owns 16,128,197 shares of the company’s stock worth $1,408,798,000 after purchasing an additional 121,207 shares in the last quarter. Geode Capital Management LLC lifted its stake in Otis Worldwide by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 10,788,225 shares of the company’s stock valued at $945,020,000 after buying an additional 29,636 shares in the last quarter. Norges Bank purchased a new position in Otis Worldwide in the 4th quarter valued at about $770,125,000. Franklin Resources Inc. boosted its holdings in Otis Worldwide by 5.7% in the 4th quarter. Franklin Resources Inc. now owns 7,842,153 shares of the company’s stock worth $685,012,000 after buying an additional 422,519 shares during the last quarter. Finally, PineStone Asset Management Inc. boosted its holdings in Otis Worldwide by 3.6% in the 4th quarter. PineStone Asset Management Inc. now owns 4,679,997 shares of the company’s stock worth $408,798,000 after buying an additional 163,476 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Trading Down 0.1%

Shares of OTIS opened at $73.08 on Friday. The firm has a 50-day moving average price of $72.90 and a 200 day moving average price of $81.56. The firm has a market capitalization of $28.04 billion, a P/E ratio of 19.44, a P/E/G ratio of 2.60 and a beta of 0.90. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $101.42.

Otis Worldwide (NYSE:OTIS – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the firm posted $0.92 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Equities research analysts predict that Otis Worldwide Corporation will post 4.19 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend 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 dividend payout ratio is 46.81%.

Analyst Ratings Changes

Several equities research analysts have commented on OTIS shares. Barclays cut their price objective 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. Evercore began coverage on Otis Worldwide in a research report on Monday, April 13th. They issued an “outperform” rating and a $100.00 target price on the stock. UBS Group set a $105.00 price target on Otis Worldwide in a research note on Thursday, April 23rd. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Finally, Wells Fargo & Company reduced their price objective on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $97.58.

View Our Latest Stock Analysis on OTIS

Otis Worldwide Company Profile

(Free Report)

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.

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