Otis Worldwide Corporation $OTIS Shares Bought by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP raised its stake in Otis Worldwide Corporation (NYSE:OTIS) by 40.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 718,853 shares of the company’s stock after acquiring an additional 208,755 shares during the period. Otis Worldwide accounts for approximately 0.5% of ExodusPoint Capital Management LP’s portfolio, making the stock its 13th largest position. ExodusPoint Capital Management LP’s holdings in Otis Worldwide were worth $62,792,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of OTIS. Camelot Portfolios LLC acquired a new position in Otis Worldwide in the fourth quarter valued at $26,000. Stance Capital LLC acquired a new position in Otis Worldwide in the third quarter valued at $27,000. Elevation Wealth Partners LLC acquired a new position in Otis Worldwide in the fourth quarter valued at $32,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Otis Worldwide during the fourth quarter worth about $33,000. Finally, Board of the Pension Protection Fund acquired a new stake in shares of Otis Worldwide during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

Shares of OTIS opened at $73.44 on Wednesday. The company has a market capitalization of $28.18 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $101.42. The firm has a 50-day simple moving average of $74.83 and a 200-day simple moving average of $82.88.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. Otis Worldwide’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Equities research analysts forecast that Otis Worldwide Corporation will post 4.2 EPS for the current year.

Otis Worldwide Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were given a $0.44 dividend. The ex-dividend date was Friday, May 15th. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. Otis Worldwide’s payout ratio is 46.81%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on OTIS shares. Sanford C. Bernstein started coverage on shares of Otis Worldwide in a research note on Tuesday, June 9th. They set an “outperform” rating and a $97.00 target price for the company. Evercore started coverage on shares of Otis Worldwide in a research note on Monday, April 13th. They set an “outperform” rating and a $100.00 target price for the company. Barclays decreased their target price on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Thursday, April 23rd. Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Finally, Wells Fargo & Company decreased their target price on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Otis Worldwide currently has a consensus rating of “Hold” and a consensus target price of $97.58.

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.