50,070 Shares in Otis Worldwide Corporation $OTIS Acquired by OP Asset Management Ltd

OP Asset Management Ltd purchased a new position in Otis Worldwide Corporation (NYSE:OTIS) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 50,070 shares of the company’s stock, valued at approximately $3,859,000.

Other institutional investors also recently modified their holdings of the company. State Street Corp boosted its stake in shares of Otis Worldwide by 0.8% during the 4th quarter. State Street Corp now owns 16,128,197 shares of the company’s stock worth $1,408,798,000 after acquiring an additional 121,207 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Otis Worldwide by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 10,788,225 shares of the company’s stock valued at $945,020,000 after purchasing an additional 29,636 shares during the last quarter. Norges Bank purchased a new stake in shares of Otis Worldwide during the fourth quarter valued at $770,125,000. Franklin Resources Inc. boosted its position in shares of Otis Worldwide by 5.7% in the 4th quarter. Franklin Resources Inc. now owns 7,842,153 shares of the company’s stock valued at $685,012,000 after purchasing an additional 422,519 shares during the period. Finally, PineStone Asset Management Inc. boosted its position in shares of Otis Worldwide by 3.6% in the 4th quarter. PineStone Asset Management Inc. now owns 4,679,997 shares of the company’s stock valued at $408,798,000 after purchasing an additional 163,476 shares during the period. Institutional investors own 88.03% of the company’s stock.

Wall Street Analyst Weigh In

OTIS has been the topic of several recent analyst reports. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a report on Friday, April 24th. Evercore started coverage on shares of Otis Worldwide in a research report on Monday, April 13th. They issued an “outperform” rating and a $100.00 target price on the stock. Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Finally, Wells Fargo & Company decreased their price objective on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $97.58.

Otis Worldwide Trading Down 0.4%

Shares of Otis Worldwide stock opened at $73.32 on Friday. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $101.42. The company has a market cap of $28.13 billion, a P/E ratio of 19.50, a P/E/G ratio of 2.40 and a beta of 0.91. The stock has a 50-day moving average price of $73.67 and a 200 day moving average price of $82.09.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, equities analysts forecast that Otis Worldwide Corporation will post 4.2 earnings per share 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 paid a $0.44 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.76 annualized dividend and a yield of 2.4%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s dividend payout ratio (DPR) is currently 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.