Otis Worldwide Corporation $OTIS Shares Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC raised its position in Otis Worldwide Corporation (NYSE:OTIS) by 51.6% during the first quarter, Holdings Channel reports. The firm owned 34,218 shares of the company’s stock after buying an additional 11,646 shares during the quarter. Sanctuary Advisors LLC’s holdings in Otis Worldwide were worth $2,638,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Otis Worldwide in the fourth quarter valued at $770,125,000. Millennium Management LLC lifted its stake 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 acquiring an additional 2,179,314 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Otis Worldwide by 97.9% during the 4th quarter. Van ECK Associates Corp now owns 4,002,589 shares of the company’s stock valued at $349,626,000 after acquiring an additional 1,979,819 shares during the period. AQR Capital Management LLC boosted its holdings in Otis Worldwide by 125.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company’s stock valued at $236,891,000 after acquiring an additional 1,445,904 shares during the period. Finally, Scharf Investments LLC acquired a new position in Otis Worldwide in the 3rd quarter valued at about $73,200,000. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on OTIS. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Morgan Stanley set a $88.00 price objective on shares of Otis Worldwide in a research note on Friday, April 24th. UBS Group set a $105.00 price objective on shares of Otis Worldwide in a report on Thursday, April 23rd. Weiss Ratings downgraded shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Finally, Evercore started coverage on shares of Otis Worldwide in a report on Monday, April 13th. They set an “outperform” rating and a $100.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $96.55.

Otis Worldwide Stock Up 0.1%

Shares of Otis Worldwide stock opened at $73.55 on Tuesday. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $101.14. The company has a market capitalization of $28.22 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.64 and a beta of 0.90. The company has a 50 day moving average of $72.08 and a 200 day moving average of $80.38.

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). Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the company 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. As a group, research analysts anticipate that Otis Worldwide Corporation will post 4.16 earnings per share for the current fiscal year.

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.