Pictet Asset Management Holding SA Has $106.67 Million Holdings in Otis Worldwide Corporation $OTIS

Pictet Asset Management Holding SA grew its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 46.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,384,014 shares of the company’s stock after acquiring an additional 441,841 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Otis Worldwide were worth $106,669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of OTIS. Smartleaf Asset Management LLC increased its position in Otis Worldwide by 5.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company’s stock worth $202,000 after acquiring an additional 123 shares during the period. Boyd Watterson Asset Management LLC OH grew its position in Otis Worldwide by 4.0% in the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company’s stock worth $281,000 after purchasing an additional 124 shares during the last quarter. Moors & Cabot Inc. increased its holdings in shares of Otis Worldwide by 2.7% during the 4th quarter. Moors & Cabot Inc. now owns 4,741 shares of the company’s stock worth $414,000 after purchasing an additional 126 shares during the period. Composition Wealth LLC increased its holdings in shares of Otis Worldwide by 4.2% during the 4th quarter. Composition Wealth LLC now owns 3,258 shares of the company’s stock worth $285,000 after purchasing an additional 131 shares during the period. Finally, Cary Street Partners Financial LLC raised its position in shares of Otis Worldwide by 2.6% during the third quarter. Cary Street Partners Financial LLC now owns 5,165 shares of the company’s stock valued at $472,000 after buying an additional 132 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Trading Up 0.2%

OTIS stock opened at $73.32 on Monday. Otis Worldwide Corporation has a 1-year low of $69.16 and a 1-year high of $101.42. The business’s 50 day moving average is $73.67 and its 200-day moving average is $82.06. The firm has a market cap of $28.13 billion, a P/E ratio of 19.50, a P/E/G ratio of 2.39 and a beta of 0.91.

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). The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate 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 quarter last year, the business earned $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Sell-side analysts forecast that Otis Worldwide Corporation will post 4.2 EPS for the current 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 issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, May 15th. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is 46.81%.

Analysts Set New Price Targets

Several research firms recently weighed in on OTIS. Weiss Ratings cut shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Sanford C. Bernstein initiated coverage on Otis Worldwide in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $97.00 price objective for the company. Barclays decreased their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 23rd. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Finally, Wells Fargo & Company dropped 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 investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Otis Worldwide currently has an average rating of “Hold” and an average target price of $97.58.

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.