8,463 Shares in Otis Worldwide Corporation $OTIS Purchased by Vise Technologies Inc.

Vise Technologies Inc. purchased a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,463 shares of the company’s stock, valued at approximately $606,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Camelot Portfolios LLC purchased a new stake in Otis Worldwide in the 4th quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Otis Worldwide during the fourth quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Otis Worldwide during the fourth quarter valued at approximately $33,000. Reflection Asset Management bought a new position in shares of Otis Worldwide during the fourth quarter valued at approximately $34,000. Finally, MidFirst Bank purchased a new stake in Otis Worldwide in the fourth quarter worth $35,000. Institutional investors own 88.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on OTIS shares. Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Morgan Stanley set a $75.00 target price on shares of Otis Worldwide in a research note on Monday, August 10th. Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a research report on Tuesday, July 28th. Sanford C. Bernstein decreased their price target 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, Evercore reissued an “outperform” rating and issued a $95.00 price target on shares of Otis Worldwide in a research note on Thursday, July 23rd. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $92.91.

Otis Worldwide Stock Up 1.0%

Shares of OTIS stock opened at $72.18 on Tuesday. The stock has a market cap of $27.48 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 2.52 and a beta of 0.89. The business’s fifty day moving average is $72.64 and its 200 day moving average is $77.45. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $94.57.

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

Otis Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s dividend payout ratio (DPR) is 45.24%.

Otis Worldwide Company 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.