Louisbourg Investments Inc. Increases Stock Position in Otis Worldwide Corporation $OTIS

Louisbourg Investments Inc. boosted its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 9.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 83,707 shares of the company’s stock after acquiring an additional 7,430 shares during the period. Otis Worldwide makes up approximately 1.1% of Louisbourg Investments Inc.’s portfolio, making the stock its 28th largest position. Louisbourg Investments Inc.’s holdings in Otis Worldwide were worth $6,452,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its position 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 worth $202,000 after acquiring an additional 123 shares during the period. Boyd Watterson Asset Management LLC OH grew its position in shares of 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 valued at $281,000 after acquiring an additional 124 shares during the period. Moors & Cabot Inc. grew its position in shares of Otis Worldwide by 2.7% during the 4th quarter. Moors & Cabot Inc. now owns 4,741 shares of the company’s stock valued at $414,000 after acquiring an additional 126 shares during the period. Composition Wealth LLC increased its stake in shares of 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 purchasing an additional 131 shares in the last quarter. Finally, Cary Street Partners Financial LLC increased its stake in shares of Otis Worldwide by 2.6% in the 3rd quarter. Cary Street Partners Financial LLC now owns 5,165 shares of the company’s stock valued at $472,000 after purchasing an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Trading Down 0.4%

Shares of Otis Worldwide stock opened at $73.32 on Friday. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $101.42. The firm has a market capitalization of $28.13 billion, a PE ratio of 19.50, a P/E/G ratio of 2.39 and a beta of 0.91. The firm’s 50-day moving average price is $73.67 and its 200 day moving average price is $82.09.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data 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 firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the firm posted $0.92 earnings per share. Otis Worldwide’s quarterly 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. On average, sell-side analysts predict that Otis Worldwide Corporation will post 4.2 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were given a dividend of $0.44 per share. The ex-dividend date was Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is presently 46.81%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on OTIS shares. Weiss Ratings downgraded Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Sanford C. Bernstein initiated coverage on Otis Worldwide in a research note on Tuesday, June 9th. They set an “outperform” rating and a $97.00 target price for the company. Royal Bank Of Canada decreased their target price on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Evercore initiated coverage on shares of Otis Worldwide in a research note on Monday, April 13th. They issued an “outperform” rating and a $100.00 price target on the stock. Finally, Barclays cut their price target on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Otis Worldwide presently has a consensus rating of “Hold” and a consensus price target of $97.58.

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.