Empowered Funds LLC Makes New $5.16 Million Investment in Otis Worldwide Corporation $OTIS

Empowered Funds LLC purchased a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 72,123 shares of the company’s stock, valued at approximately $5,164,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Smartleaf Asset Management LLC grew its holdings in shares of Otis Worldwide by 5.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company’s stock valued at $202,000 after purchasing an additional 123 shares in the last quarter. Boyd Watterson Asset Management LLC OH lifted its holdings in Otis Worldwide by 4.0% during the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company’s stock worth $281,000 after buying an additional 124 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in Otis Worldwide by 2.7% during the 4th quarter. Moors & Cabot Inc. now owns 4,741 shares of the company’s stock worth $414,000 after buying an additional 126 shares in the last quarter. Composition Wealth LLC boosted its position in Otis Worldwide by 4.2% in the 4th quarter. Composition Wealth LLC now owns 3,258 shares of the company’s stock valued at $285,000 after buying an additional 131 shares during the period. Finally, Stephens Inc. AR boosted its position in Otis Worldwide by 2.6% in the 4th quarter. Stephens Inc. AR now owns 5,222 shares of the company’s stock valued at $456,000 after buying an additional 132 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Down 0.6%

OTIS stock opened at $71.34 on Tuesday. The business has a 50 day moving average price of $72.52 and a 200 day moving average price of $76.81. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $94.57. The stock has a market cap of $27.16 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 2.53 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last posted 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 net margin of 10.17% and a negative return on equity of 28.50%. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period last year, the firm posted $1.05 EPS. The company’s revenue was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, sell-side analysts anticipate that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. Otis Worldwide’s dividend payout ratio (DPR) is 45.24%.

Analysts Set New Price Targets

Several equities analysts have commented on OTIS shares. Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a research note on Tuesday, July 28th. Morgan Stanley set a $75.00 target price on Otis Worldwide in a research note on Monday, August 10th. Sanford C. Bernstein cut their price target on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Finally, Evercore reiterated an “outperform” rating and issued a $95.00 price objective on shares of Otis Worldwide in a research note on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Otis Worldwide presently has a consensus rating of “Hold” and an average price target of $92.91.

About Otis Worldwide

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.