Otis Worldwide Corporation (NYSE:OTIS) Announces Quarterly Dividend of $0.44

Otis Worldwide Corporation (NYSE:OTIS) declared a quarterly dividend on Thursday, July 23rd. Stockholders of record on Friday, August 14th will be paid a dividend of 0.44 per share on Friday, September 11th. This represents a c) annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, August 14th.

Otis Worldwide has increased its dividend by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 5 years. Otis Worldwide has a payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Otis Worldwide to earn $4.58 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 38.4%.

Otis Worldwide Stock Performance

Shares of NYSE:OTIS opened at $70.87 on Friday. Otis Worldwide has a 52-week low of $69.16 and a 52-week high of $94.57. The company has a market capitalization of $27.20 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 2.61 and a beta of 0.90. The company has a fifty day moving average of $71.94 and a 200-day moving average of $80.02.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the business posted $1.05 EPS. Otis Worldwide’s revenue for the quarter was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities analysts forecast that Otis Worldwide will post 4.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Otis Worldwide

Several large investors have recently modified their holdings of the company. Camelot Portfolios LLC bought a new stake in Otis Worldwide during the fourth quarter valued at $26,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Otis Worldwide in the 4th quarter worth about $27,000. Elevation Wealth Partners LLC lifted its stake 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 valued at $29,000 after purchasing an additional 382 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Otis Worldwide in the 4th quarter valued at about $33,000. Finally, Reflection Asset Management bought a new stake in shares of Otis Worldwide during the 4th quarter valued at about $34,000. 88.03% of the stock is currently owned by institutional investors and hedge funds.

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.