Clifford Swan Investment Counsel LLC Purchases 49,054 Shares of Otis Worldwide Corporation $OTIS

Clifford Swan Investment Counsel LLC boosted its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 117.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 90,992 shares of the company’s stock after buying an additional 49,054 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Otis Worldwide were worth $7,014,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of OTIS. SG Americas Securities LLC grew its stake in Otis Worldwide by 12,345.2% during the fourth quarter. SG Americas Securities LLC now owns 499,177 shares of the company’s stock valued at $43,603,000 after acquiring an additional 495,166 shares in the last quarter. Pinnacle Financial Partners Inc. increased its holdings in Otis Worldwide by 19.6% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock valued at $7,085,000 after acquiring an additional 12,721 shares during the last quarter. Oak Thistle LLC purchased a new stake in Otis Worldwide in the 4th quarter worth $2,046,000. Pensionfund Sabic bought a new position in shares of Otis Worldwide during the 4th quarter valued at about $1,136,000. Finally, Capital Research Global Investors grew its position in shares of Otis Worldwide by 0.6% during the fourth quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock valued at $248,417,000 after purchasing an additional 18,189 shares in the last quarter. 88.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Sanford C. Bernstein started coverage on Otis Worldwide in a report on Tuesday, June 9th. They issued an “outperform” rating and a $97.00 target price on the stock. UBS Group set a $105.00 price target on Otis Worldwide in a report on Thursday, April 23rd. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a research note on Friday, April 24th. Wells Fargo & Company lowered their target price on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 1st. Finally, Royal Bank Of Canada reduced their price target on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $96.55.

Otis Worldwide Trading Down 2.0%

Shares of NYSE:OTIS opened at $73.50 on Friday. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $101.14. The company has a 50-day moving average price of $72.09 and a 200 day moving average price of $80.53. The company has a market cap of $28.20 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 2.69 and a beta of 0.90.

Otis Worldwide (NYSE:OTIS) 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 negative return on equity of 29.39% and a net margin of 10.11%.The company had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the business posted $0.92 EPS. The company’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. As a group, equities analysts forecast that Otis Worldwide Corporation will post 4.16 EPS for the current year.

Otis Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 15th were issued a $0.44 dividend. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is presently 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.