Hsbc Holdings PLC Has $58.18 Million Stock Position in Otis Worldwide Corporation $OTIS

Hsbc Holdings PLC decreased its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 13.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 755,635 shares of the company’s stock after selling 114,410 shares during the quarter. Hsbc Holdings PLC’s holdings in Otis Worldwide were worth $58,178,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of OTIS. Camelot Portfolios LLC bought a new stake in Otis Worldwide during the fourth quarter worth about $26,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Otis Worldwide during the fourth quarter worth $27,000. Elevation Wealth Partners LLC bought a new stake in Otis Worldwide during the 4th quarter worth $32,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Otis Worldwide during the fourth quarter worth about $33,000. Finally, Reflection Asset Management acquired a new position in Otis Worldwide in the 4th quarter valued at approximately $34,000. 88.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on OTIS shares. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Evercore started coverage on shares of Otis Worldwide in a report on Monday, April 13th. They set an “outperform” rating and a $100.00 price objective on the stock. Weiss Ratings cut Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Royal Bank Of Canada dropped their target price on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Finally, UBS Group set a $105.00 price objective on shares of Otis Worldwide in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Otis Worldwide presently has a consensus rating of “Hold” and a consensus target price of $96.55.

Otis Worldwide Price Performance

Shares of Otis Worldwide stock opened at $73.50 on Monday. The firm has a market cap of $28.20 billion, a PE ratio of 19.55, a P/E/G ratio of 2.64 and a beta of 0.90. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $101.14. The stock has a fifty day moving average price of $72.09 and a 200-day moving average price of $80.48.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The company had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.Otis Worldwide’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, equities analysts anticipate that Otis Worldwide Corporation will post 4.16 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 15th were given a $0.44 dividend. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, May 15th. Otis Worldwide’s payout ratio is presently 46.81%.

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.