UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 239,012 Shares of Otis Worldwide Corporation $OTIS

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 7.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,071,357 shares of the company’s stock after selling 239,012 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Otis Worldwide were worth $219,909,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC purchased a new position in Otis Worldwide in the 2nd quarter worth $27,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Otis Worldwide during the fourth quarter valued at about $27,000. MidFirst Bank bought a new position in shares of Otis Worldwide during the second quarter valued at about $28,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Otis Worldwide in the second quarter worth about $28,000. Finally, Elevation Wealth Partners LLC increased its holdings in shares of Otis Worldwide by 1,910.0% in the second quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock worth $29,000 after buying an additional 382 shares during the period. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

NYSE OTIS opened at $71.34 on Tuesday. The stock has a market cap of $27.16 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 2.53 and a beta of 0.89. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $94.57. The stock has a 50 day simple moving average of $72.52 and a two-hundred day simple moving average of $76.81.

Otis Worldwide (NYSE:OTIS) last posted its 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 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 revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Sell-side analysts predict that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders 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 2.5%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s payout ratio is presently 45.24%.

Wall Street Analyst Weigh In

OTIS has been the subject of a number of recent research reports. Sanford C. Bernstein lowered their target price on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. Evercore reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Otis Worldwide in a research note on Thursday, July 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a research note on Tuesday, July 28th. Finally, Morgan Stanley set a $75.00 target price on shares of Otis Worldwide in a report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock 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.