ARQ Wealth Advisors LLC Buys 12,610 Shares of Otis Worldwide Corporation $OTIS

ARQ Wealth Advisors LLC boosted its stake in Otis Worldwide Corporation (NYSE:OTIS) by 432.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 15,526 shares of the company’s stock after buying an additional 12,610 shares during the period. ARQ Wealth Advisors LLC’s holdings in Otis Worldwide were worth $1,197,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Stance Capital LLC bought a new stake in shares of Otis Worldwide during the third quarter worth approximately $27,000. Camelot Portfolios LLC bought a new position in shares of Otis Worldwide during the fourth quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in Otis Worldwide during the 4th quarter worth approximately $27,000. Elevation Wealth Partners LLC acquired a new stake in Otis Worldwide during the 4th quarter worth approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Otis Worldwide in the 4th quarter valued at $33,000. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Price Performance

OTIS stock traded up $1.03 during midday trading on Friday, reaching $73.03. The company had a trading volume of 2,736,062 shares, compared to its average volume of 3,482,348. The company has a market capitalization of $28.02 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90. The stock has a 50 day moving average price of $72.41 and a 200-day moving average price of $81.03. Otis Worldwide Corporation has a 1-year low of $69.16 and a 1-year high of $101.42.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data 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). Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The firm 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 company earned $0.92 earnings per share. The company’s quarterly 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. As a group, research analysts anticipate that Otis Worldwide Corporation will post 4.19 earnings per share for the current year.

Otis Worldwide Increases Dividend

The company also recently declared 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. The ex-dividend date was Friday, May 15th. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s dividend payout ratio (DPR) is 46.81%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OTIS. Wolfe Research downgraded Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Sanford C. Bernstein assumed coverage on shares of Otis Worldwide in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $97.00 price objective for the company. Royal Bank Of Canada cut their price objective on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, Evercore began coverage on shares of Otis Worldwide in a research report on Monday, April 13th. They set an “outperform” rating and a $100.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.