Segall Bryant & Hamill LLC Purchases Shares of 127,408 Otis Worldwide Corporation $OTIS

Segall Bryant & Hamill LLC purchased a new position in Otis Worldwide Corporation (NYSE:OTIS) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 127,408 shares of the company’s stock, valued at approximately $9,821,000.

A number of other large investors have also modified their holdings of OTIS. Pinnacle Financial Partners Inc. lifted its stake in shares of 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 during the period. Oak Thistle LLC purchased a new position in Otis Worldwide in the 4th quarter worth $2,046,000. Capital Research Global Investors raised its stake in Otis Worldwide by 0.6% in the 4th quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock worth $248,417,000 after acquiring an additional 18,189 shares during the last quarter. Coerente Capital Management lifted its position in Otis Worldwide by 11.1% during the 4th quarter. Coerente Capital Management now owns 180,066 shares of the company’s stock worth $15,729,000 after acquiring an additional 18,038 shares during the period. Finally, Lazard Freres Gestion S.A.S. grew its stake in Otis Worldwide by 21.9% during the 4th quarter. Lazard Freres Gestion S.A.S. now owns 1,309,160 shares of the company’s stock valued at $114,355,000 after purchasing an additional 235,316 shares during the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OTIS. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a research note on Friday, April 24th. UBS Group set a $105.00 target price on Otis Worldwide in a research report on Thursday, April 23rd. Evercore reiterated an “outperform” rating and issued a $95.00 price target on shares of Otis Worldwide in a report on Thursday, July 23rd. Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Finally, Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a research note on Tuesday, July 28th. 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $94.09.

Otis Worldwide Stock Performance

Shares of OTIS opened at $71.98 on Monday. The business’s 50-day moving average is $72.08 and its two-hundred day moving average is $79.31. The company has a market capitalization of $27.40 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.55 and a beta of 0.90. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $94.57.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the previous year, the firm posted $1.05 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Analysts forecast that Otis Worldwide Corporation will post 4 EPS for the current year.

Otis Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s payout ratio is 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.