Clifford Swan Investment Counsel LLC Has $7.57 Million Stake in Otis Worldwide Corporation $OTIS

Clifford Swan Investment Counsel LLC raised its stake in Otis Worldwide Corporation (NYSE:OTIS) by 16.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 105,779 shares of the company’s stock after buying an additional 14,787 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Otis Worldwide were worth $7,574,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Orion Capital Management LLC purchased a new stake in Otis Worldwide in the 2nd quarter valued at $27,000. Garton & Associates Financial Advisors LLC purchased a new position in Otis Worldwide during the 4th quarter worth $27,000. MidFirst Bank purchased a new position in Otis Worldwide during the 2nd quarter worth $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Otis Worldwide in the 2nd quarter worth $28,000. Finally, Elevation Wealth Partners LLC grew its stake in shares of Otis Worldwide by 1,910.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock worth $29,000 after acquiring an additional 382 shares in the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Down 0.6%

Shares of NYSE:OTIS opened at $71.34 on Tuesday. The firm has a market capitalization of $27.16 billion, a PE ratio of 18.34, a P/E/G ratio of 2.53 and a beta of 0.89. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $94.57. The company has a 50-day moving average price of $72.52 and a two-hundred day moving average price of $76.81.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Analysts anticipate that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.44 per share. 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 presently 45.24%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Evercore reissued an “outperform” rating and set a $95.00 price target on shares of Otis Worldwide in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Morgan Stanley set a $75.00 target price on shares of Otis Worldwide in a research report on Monday, August 10th. Royal Bank Of Canada set a $90.00 target price on Otis Worldwide in a research note on Tuesday, July 28th. Finally, Sanford C. Bernstein reduced their target price on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Four equities 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 data from MarketBeat.com, Otis Worldwide currently has a consensus rating of “Hold” and a consensus target price of $92.91.

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.