WD Rutherford LLC Makes New Investment in Otis Worldwide Corporation $OTIS

WD Rutherford LLC bought a new stake in Otis Worldwide Corporation (NYSE:OTIS) in the 1st quarter, Holdings Channel reports. The institutional investor bought 21,965 shares of the company’s stock, valued at approximately $1,693,000.

Other hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its position in 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 acquiring an additional 304 shares during the period. Empowered Funds LLC lifted its holdings in shares of Otis Worldwide by 10.5% during the first quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock worth $928,000 after purchasing an additional 857 shares during the period. Acadian Asset Management LLC grew its stake in shares of Otis Worldwide by 63.7% in the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock worth $417,000 after purchasing an additional 1,574 shares during the last quarter. Baird Financial Group Inc. increased its holdings in Otis Worldwide by 7.1% in the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock valued at $3,193,000 after purchasing an additional 2,132 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in Otis Worldwide by 13.3% in the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock valued at $1,012,000 after purchasing an additional 1,196 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Stock Down 1.2%

OTIS stock opened at $70.72 on Thursday. The firm has a market cap of $27.14 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 2.34 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. The company’s fifty day simple moving average is $73.12 and its 200 day simple moving average is $81.73.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the business posted $0.92 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Research analysts expect that Otis Worldwide Corporation will post 4.19 earnings per share for the current year.

Otis Worldwide Increases Dividend

The firm also recently announced 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 is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, May 15th. Otis Worldwide’s payout ratio is 46.81%.

Analysts Set New Price Targets

Several brokerages have commented on OTIS. Barclays cut their target price on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 23rd. Morgan Stanley set a $88.00 price target on Otis Worldwide in a research note on Friday, April 24th. UBS Group set a $105.00 price objective on Otis Worldwide in a research report on Thursday, April 23rd. Wells Fargo & Company cut their price objective on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Finally, Royal Bank Of Canada reduced their target price on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $97.58.

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.