Sumitomo Mitsui Trust Group Inc. Has $64.14 Million Stake in Otis Worldwide Corporation $OTIS

Sumitomo Mitsui Trust Group Inc. reduced its position in Otis Worldwide Corporation (NYSE:OTIS) by 5.7% during the first quarter, HoldingsChannel reports. The firm owned 832,132 shares of the company’s stock after selling 50,735 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Otis Worldwide were worth $64,141,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of OTIS. Burney Co. raised its stake in Otis Worldwide by 56.0% during the first quarter. Burney Co. now owns 14,389 shares of the company’s stock worth $1,109,000 after buying an additional 5,163 shares during the last quarter. Swedbank AB boosted its position in Otis Worldwide by 7.4% during the first quarter. Swedbank AB now owns 266,602 shares of the company’s stock valued at $20,550,000 after acquiring an additional 18,400 shares during the last quarter. Kathmere Capital Management LLC boosted its position in Otis Worldwide by 53.2% during the first quarter. Kathmere Capital Management LLC now owns 3,775 shares of the company’s stock valued at $291,000 after acquiring an additional 1,311 shares during the last quarter. Stephens Inc. AR grew its holdings in Otis Worldwide by 20.8% during the 1st quarter. Stephens Inc. AR now owns 6,309 shares of the company’s stock worth $486,000 after acquiring an additional 1,087 shares during the period. Finally, Hunter Associates Investment Management LLC grew its holdings in Otis Worldwide by 13.1% during the 1st quarter. Hunter Associates Investment Management LLC now owns 13,214 shares of the company’s stock worth $1,019,000 after acquiring an additional 1,532 shares during the period. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on OTIS shares. Wolfe Research lowered Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Evercore started coverage on Otis Worldwide in a research report on Monday, April 13th. They set an “outperform” rating and a $100.00 target price on the stock. Morgan Stanley set a $88.00 target price on Otis Worldwide in a research note on Friday, April 24th. Barclays lowered their target price on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Finally, UBS Group set a $105.00 price target on Otis Worldwide in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Otis Worldwide has a consensus rating of “Hold” and a consensus price target of $97.58.

Otis Worldwide Stock Performance

Shares of Otis Worldwide stock traded up $1.03 during trading hours on Friday, reaching $73.03. The company’s stock had a trading volume of 2,736,062 shares, compared to its average volume of 3,482,348. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $101.42. The company has a market capitalization of $28.02 billion, a P/E ratio of 19.42, a P/E/G ratio of 2.60 and a beta of 0.90. The stock’s fifty day simple moving average is $72.41 and its two-hundred day simple moving average is $81.03.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, April 22nd. The company reported $0.89 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 business had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. The company’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. As a group, research analysts forecast that Otis Worldwide Corporation will post 4.19 earnings per share for the current year.

Otis Worldwide Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 15th were paid a dividend of $0.44 per share. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is presently 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.