Otis Worldwide Corporation (OTIS) to Issue Quarterly Dividend of $0.44 on June 12th

Otis Worldwide Corporation (NYSE:OTIS) declared a quarterly dividend on Tuesday, April 21st. Shareholders of record on Friday, May 15th will be paid a dividend of 0.44 per share on Friday, June 12th. This represents a c) dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, May 15th. This is a 4.8% increase from Otis Worldwide’s previous quarterly dividend of $0.42.

Otis Worldwide has increased its dividend by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 5 years. Otis Worldwide has a dividend payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Otis Worldwide to earn $4.72 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 35.6%.

Otis Worldwide Stock Down 1.2%

Shares of NYSE OTIS opened at $77.91 on Thursday. The business’s 50 day moving average price is $83.98 and its two-hundred day moving average price is $87.43. The company has a market cap of $30.05 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.42 and a beta of 1.05. Otis Worldwide has a twelve month low of $75.27 and a twelve month high of $101.42.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.77 billion. Otis Worldwide had a negative return on equity of 30.42% and a net margin of 9.59%.Otis Worldwide’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, research analysts anticipate that Otis Worldwide will post 4.21 EPS for the current fiscal year.

Insider Transactions at Otis Worldwide

In other Otis Worldwide news, EVP Neil Green sold 6,000 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $86.45, for a total transaction of $518,700.00. Following the completion of the sale, the executive vice president directly owned 3,773 shares in the company, valued at $326,175.85. This represents a 61.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Judith Fran Marks sold 56,107 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $90.89, for a total value of $5,099,565.23. Following the sale, the chief executive officer owned 231,072 shares of the company’s stock, valued at $21,002,134.08. The trade was a 19.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 158,013 shares of company stock worth $14,337,635 over the last three months. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Oakworth Capital Inc. lifted its stake in shares of Otis Worldwide by 49.1% in the 3rd quarter. Oakworth Capital Inc. now owns 343 shares of the company’s stock valued at $31,000 after acquiring an additional 113 shares during the last quarter. Cookson Peirce & Co. Inc. lifted its stake in shares of Otis Worldwide by 1.8% in the 3rd quarter. Cookson Peirce & Co. Inc. now owns 6,615 shares of the company’s stock valued at $605,000 after acquiring an additional 115 shares during the last quarter. OLD National Bancorp IN lifted its stake in shares of Otis Worldwide by 5.5% in the 3rd quarter. OLD National Bancorp IN now owns 2,245 shares of the company’s stock valued at $205,000 after acquiring an additional 118 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Otis Worldwide by 5.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company’s stock valued at $202,000 after acquiring an additional 123 shares during the last quarter. Finally, Physician Wealth Advisors Inc. lifted its stake in shares of Otis Worldwide by 57.7% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 339 shares of the company’s stock valued at $31,000 after acquiring an additional 124 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors.

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.