7,741 Shares in Otis Worldwide Corporation $OTIS Bought by Compass Wealth Management LLC

Compass Wealth Management LLC acquired a new stake in Otis Worldwide Corporation (NYSE:OTIS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,741 shares of the company’s stock, valued at approximately $554,000.

Several other large investors also recently bought and sold shares of OTIS. BlackRock Inc. acquired a new stake in Otis Worldwide during the 2nd quarter valued at approximately $2,264,017,000. Norges Bank acquired a new position in Otis Worldwide during the fourth quarter valued at $770,125,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Otis Worldwide in the second quarter valued at $423,739,000. Bank of New York Mellon Corp purchased a new stake in Otis Worldwide in the second quarter valued at $196,298,000. Finally, Millennium Management LLC grew its position in Otis Worldwide by 1,047.0% during the 4th quarter. Millennium Management LLC now owns 2,387,466 shares of the company’s stock worth $208,545,000 after purchasing an additional 2,179,314 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Down 0.1%

NYSE:OTIS opened at $70.50 on Wednesday. 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 $72.54 and its 200-day moving average price is $77.86. The stock has a market capitalization of $26.84 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 2.56 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Sell-side analysts expect that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

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%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OTIS. UBS Group set a $105.00 price objective on Otis Worldwide in a research note on Thursday, April 23rd. Morgan Stanley set a $75.00 target price on Otis Worldwide in a research note on Monday, August 10th. Sanford C. Bernstein reduced their price target on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Evercore reiterated an “outperform” rating and set a $95.00 price target on shares of Otis Worldwide in a research report on Thursday, July 23rd. Finally, Barclays dropped their price objective on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research note on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $92.91.

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.