Otis Worldwide Corporation $OTIS Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC boosted its position in Otis Worldwide Corporation (NYSE:OTIS) by 93.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 22,190 shares of the company’s stock after purchasing an additional 10,701 shares during the period. HB Wealth Management LLC’s holdings in Otis Worldwide were worth $1,589,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Garton & Associates Financial Advisors LLC acquired a new stake in Otis Worldwide during the 4th quarter valued at approximately $27,000. Orion Capital Management LLC acquired a new stake in shares of Otis Worldwide in the second quarter worth $27,000. Reflection Asset Management acquired a new stake in shares of Otis Worldwide in the fourth quarter worth $34,000. MidFirst Bank purchased a new position in shares of Otis Worldwide during the fourth quarter worth $35,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Otis Worldwide during the second quarter worth $28,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Trading Down 1.0%

NYSE OTIS opened at $69.38 on Thursday. The stock has a market capitalization of $26.41 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 2.47 and a beta of 0.88. Otis Worldwide Corporation has a twelve month low of $68.41 and a twelve month high of $94.57. The stock has a 50-day moving average of $72.28 and a 200 day moving average of $75.79.

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

Otis Worldwide Dividend Announcement

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

Analyst Upgrades and Downgrades

OTIS has been the topic of several recent research reports. Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a report on Tuesday, July 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Morgan Stanley set a $75.00 price objective on Otis Worldwide in a report on Monday, August 10th. Evercore restated an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Finally, Sanford C. Bernstein dropped their target price on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Four 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. Based on data from MarketBeat.com, Otis Worldwide has an average rating of “Hold” and a consensus price target of $92.91.

About Otis Worldwide

Otis Worldwide Corporation (NYSE: OTIS) designs, manufactures, installs and services elevators, escalators and moving walkways. Its equipment is used in residential, commercial, institutional, transportation and industrial buildings, supporting the movement of people in high-rise and other densely occupied environments.

The company’s offerings include passenger and freight elevators, escalators, moving walkways, destination-dispatch systems and related technologies. Otis also provides maintenance, repair, modernization and replacement services for its own equipment and products made by other manufacturers.