Sanctuary Advisors LLC Makes New Investment in Otis Worldwide Corporation $OTIS

Sanctuary Advisors LLC bought a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 46,034 shares of the company’s stock, valued at approximately $3,296,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Camelot Portfolios LLC purchased a new position in Otis Worldwide during the 4th quarter worth $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Otis Worldwide in the 4th quarter worth $27,000. MidFirst Bank bought a new position in shares of Otis Worldwide during the 2nd quarter worth $28,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Otis Worldwide during the second quarter valued at $28,000. Finally, Elevation Wealth Partners LLC raised its holdings in shares of Otis Worldwide by 1,910.0% in the second quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock valued at $29,000 after acquiring an additional 382 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.

Analyst Ratings Changes

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

Otis Worldwide Price Performance

OTIS opened at $71.56 on Wednesday. The business’s 50-day moving average is $72.61 and its two-hundred day moving average is $77.32. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The firm has a market capitalization of $27.24 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.54 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, sell-side analysts expect that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, August 14th. Otis Worldwide’s payout ratio is 45.24%.

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.