Groupama Asset Managment Grows Stock Position in Otis Worldwide Corporation $OTIS

Groupama Asset Managment boosted its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 245.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,848 shares of the company’s stock after acquiring an additional 6,999 shares during the period. Groupama Asset Managment’s holdings in Otis Worldwide were worth $759,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Camelot Portfolios LLC acquired a new position in Otis Worldwide during the fourth quarter worth about $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Otis Worldwide in the fourth quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Otis Worldwide in the fourth quarter valued at approximately $33,000. Reflection Asset Management purchased a new position in shares of Otis Worldwide during the 4th quarter worth approximately $34,000. Finally, MidFirst Bank purchased a new position in shares of Otis Worldwide during the 4th quarter worth approximately $35,000. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Morgan Stanley set a $88.00 target price on Otis Worldwide in a research note on Friday, April 24th. Royal Bank Of Canada set a $90.00 price target on Otis Worldwide in a research report on Tuesday, July 28th. Sanford C. Bernstein cut their price target on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. UBS Group set a $105.00 price objective on Otis Worldwide in a research report on Thursday, April 23rd. Finally, Weiss Ratings lowered Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $94.09.

Otis Worldwide Stock Performance

Shares of OTIS opened at $71.98 on Monday. The company has a market capitalization of $27.40 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 2.55 and a beta of 0.90. The company’s 50 day simple moving average is $72.08 and its 200 day simple moving average is $79.31. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.01. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. Otis Worldwide’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Equities analysts expect that Otis Worldwide Corporation will post 4 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. Otis Worldwide’s payout ratio is currently 45.24%.

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.