193,236 Shares in Otis Worldwide Corporation $OTIS Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. acquired a new position in Otis Worldwide Corporation (NYSE:OTIS) in the 2nd quarter, HoldingsChannel reports. The fund acquired 193,236 shares of the company’s stock, valued at approximately $13,836,000.

Several other large investors have also modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new position in shares of Otis Worldwide during the second quarter valued at approximately $7,842,000. MASTERINVEST Kapitalanlage GmbH purchased a new stake in shares of Otis Worldwide in the second quarter worth approximately $782,000. Capstone Investment Advisors LLC purchased a new stake in shares of Otis Worldwide in the second quarter worth approximately $1,422,000. Parvin Asset Management LLC bought a new stake in shares of Otis Worldwide during the 2nd quarter worth approximately $80,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Otis Worldwide during the 2nd quarter worth approximately $223,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

Shares of Otis Worldwide stock opened at $71.47 on Friday. The stock has a market cap of $27.21 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 2.55 and a beta of 0.89. The firm’s 50-day moving average is $72.57 and its two-hundred day moving average is $77.06. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the previous year, the business posted $1.05 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities analysts expect that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The firm 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 $0.44 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. Otis Worldwide’s payout ratio is 45.24%.

Analyst Upgrades and Downgrades

OTIS has been the topic of several research analyst reports. Evercore reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Otis Worldwide in a research report on Thursday, July 23rd. Morgan Stanley set a $75.00 target price on Otis Worldwide in a research note on Monday, August 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Sanford C. Bernstein lowered their target price on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. Finally, Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a report on Tuesday, July 28th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Otis Worldwide presently has a consensus rating of “Hold” and an average price target of $92.91.

Otis Worldwide 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.