Otis Worldwide Corporation $OTIS Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd decreased its position in Otis Worldwide Corporation (NYSE:OTIS) by 88.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,160 shares of the company’s stock after selling 40,214 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Otis Worldwide were worth $398,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of OTIS. CIBC Private Wealth Group LLC boosted its position in shares of Otis Worldwide by 54.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,890,482 shares of the company’s stock valued at $264,277,000 after purchasing an additional 1,013,876 shares in the last quarter. SG Americas Securities LLC lifted its stake in Otis Worldwide by 12,345.2% during the fourth quarter. SG Americas Securities LLC now owns 499,177 shares of the company’s stock valued at $43,603,000 after purchasing an additional 495,166 shares during the last quarter. Pinnacle Financial Partners Inc. boosted its holdings in Otis Worldwide by 19.6% during the third quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock worth $7,085,000 after buying an additional 12,721 shares in the last quarter. Oak Thistle LLC bought a new stake in Otis Worldwide during the fourth quarter worth approximately $2,046,000. Finally, Pensionfund Sabic acquired a new position in Otis Worldwide in the fourth quarter worth approximately $1,136,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a research note on Friday, April 24th. Royal Bank Of Canada cut 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. Barclays reduced their target price on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Wells Fargo & Company decreased their price target on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 1st. Finally, Sanford C. Bernstein initiated coverage on Otis Worldwide in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $97.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $96.55.

Otis Worldwide Stock Performance

Shares of NYSE:OTIS opened at $72.55 on Wednesday. The firm has a 50 day simple moving average of $72.26 and a 200 day simple moving average of $80.78. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $101.42. The company has a market cap of $27.84 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 2.63 and a beta of 0.90.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share 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 in the previous year, the firm posted $0.92 earnings per share. The company’s revenue for the quarter 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, equities analysts predict that Otis Worldwide Corporation will post 4.16 earnings per share for the current year.

Otis Worldwide Increases Dividend

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

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.