WD Rutherford LLC Invests $1.69 Million in Otis Worldwide Corporation $OTIS

WD Rutherford LLC bought a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 21,965 shares of the company’s stock, valued at approximately $1,693,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in shares of Otis Worldwide by 5.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company’s stock worth $202,000 after acquiring an additional 123 shares during the period. Boyd Watterson Asset Management LLC OH grew its position in shares of Otis Worldwide by 4.0% in the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company’s stock valued at $281,000 after purchasing an additional 124 shares during the last quarter. Moors & Cabot Inc. increased its stake in shares of Otis Worldwide by 2.7% during the fourth quarter. Moors & Cabot Inc. now owns 4,741 shares of the company’s stock worth $414,000 after purchasing an additional 126 shares during the period. Composition Wealth LLC increased its stake in shares of Otis Worldwide by 4.2% during the fourth quarter. Composition Wealth LLC now owns 3,258 shares of the company’s stock worth $285,000 after purchasing an additional 131 shares during the period. Finally, Stephens Inc. AR increased its stake in shares of Otis Worldwide by 2.6% during the fourth quarter. Stephens Inc. AR now owns 5,222 shares of the company’s stock worth $456,000 after purchasing an additional 132 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on OTIS shares. Evercore began coverage on Otis Worldwide in a report on Monday, April 13th. They set an “outperform” rating and a $100.00 target price for the company. 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. Sanford C. Bernstein initiated coverage on shares of Otis Worldwide in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $97.00 price objective for the company. Barclays cut their price objective on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Finally, Wells Fargo & Company decreased their target price on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Otis Worldwide has an average rating of “Hold” and a consensus price target of $97.58.

Otis Worldwide Price Performance

Shares of NYSE OTIS opened at $70.72 on Thursday. The business has a fifty day moving average price of $73.12 and a two-hundred day moving average price of $81.73. The stock has a market capitalization of $27.14 billion, a PE ratio of 18.81, a P/E/G ratio of 2.34 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 $101.42.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business posted $0.92 EPS. The business’s revenue was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, equities analysts expect that Otis Worldwide Corporation will post 4.19 EPS for the current year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s payout ratio is currently 46.81%.

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.