Sone Capital Management LLC Takes Position in Otis Worldwide Corporation $OTIS

Sone Capital Management LLC acquired a new stake in Otis Worldwide Corporation (NYSE:OTIS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,693 shares of the company’s stock, valued at approximately $622,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Camelot Portfolios LLC acquired a new position in shares of Otis Worldwide in the 4th quarter valued at $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Otis Worldwide during the 4th quarter worth about $27,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Otis Worldwide during the 4th quarter worth about $33,000. Reflection Asset Management purchased a new stake in Otis Worldwide in the 4th quarter valued at about $34,000. Finally, MidFirst Bank purchased a new stake in Otis Worldwide in the 4th quarter valued at about $35,000. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Otis Worldwide Stock Up 1.0%

Shares of OTIS opened at $72.18 on Tuesday. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $94.57. The firm’s 50 day moving average price is $72.64 and its 200 day moving average price is $77.45. The company has a market cap of $27.48 billion, a P/E ratio of 18.56, a PEG ratio of 2.52 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Research analysts forecast that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, August 14th. Otis Worldwide’s dividend payout ratio (DPR) is presently 45.24%.

About Otis Worldwide

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.