DMKC Advisory Services LLC Purchases 7,591 Shares of Otis Worldwide Corporation $OTIS

DMKC Advisory Services LLC lifted its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 24.6% during the 2nd quarter, Holdings Channel reports. The firm owned 38,387 shares of the company’s stock after purchasing an additional 7,591 shares during the quarter. DMKC Advisory Services LLC’s holdings in Otis Worldwide were worth $2,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its holdings in 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 purchasing an additional 123 shares during the period. Boyd Watterson Asset Management LLC OH raised its stake in Otis Worldwide by 4.0% during the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company’s stock worth $281,000 after acquiring an additional 124 shares in the last quarter. Moors & Cabot Inc. lifted its stake in Otis Worldwide by 2.7% in the 4th quarter. Moors & Cabot Inc. now owns 4,741 shares of the company’s stock valued at $414,000 after purchasing an additional 126 shares during the last quarter. Composition Wealth LLC boosted its holdings in shares of Otis Worldwide by 4.2% during the 4th quarter. Composition Wealth LLC now owns 3,258 shares of the company’s stock valued at $285,000 after acquiring an additional 131 shares in the last quarter. Finally, Stephens Inc. AR grew its holdings 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 last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Trading Down 0.5%

Shares of NYSE OTIS opened at $73.24 on Thursday. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $94.57. The firm has a market capitalization of $27.88 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 2.61 and a beta of 0.89. The firm has a 50 day moving average of $72.11 and a 200 day moving average of $78.95.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share 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 negative return on equity of 28.50% and a net margin of 10.17%.The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Sell-side analysts predict that Otis Worldwide Corporation will post 4 EPS for the current year.

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors 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 yield of 2.4%. The ex-dividend date is Friday, August 14th. Otis Worldwide’s dividend payout ratio is presently 45.24%.

Wall Street Analysts Forecast Growth

OTIS has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 23rd. Weiss Ratings downgraded Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a research report on Friday, April 24th. Evercore reiterated an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Finally, Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a research note on Tuesday, July 28th. Four research 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, Otis Worldwide has a consensus rating of “Hold” and a consensus price target of $94.09.

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.