Jupiter Topco LLC Takes Position in Otis Worldwide Corporation $OTIS

Jupiter Topco LLC acquired a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 55,484 shares of the company’s stock, valued at approximately $3,972,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OTIS. Garton & Associates Financial Advisors LLC bought a new stake in Otis Worldwide in the fourth quarter valued at approximately $27,000. MidFirst Bank bought a new position in Otis Worldwide during the 2nd quarter worth approximately $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in Otis Worldwide during the 2nd quarter worth approximately $28,000. Elevation Wealth Partners LLC lifted its position in shares of Otis Worldwide by 1,910.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock worth $29,000 after purchasing an additional 382 shares during the period. Finally, Addison Advisors LLC acquired a new position in shares of Otis Worldwide in the 2nd quarter worth approximately $29,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Otis Worldwide Stock Performance

Otis Worldwide stock opened at $70.59 on Wednesday. The stock has a market capitalization of $26.87 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.50 and a beta of 0.88. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $94.57. The stock’s 50 day moving average price is $72.49 and its two-hundred day moving average price is $76.67.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share (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 company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the company earned $1.05 EPS. Otis Worldwide’s quarterly revenue was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities research analysts forecast that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s payout ratio is 45.24%.

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.