Osmosis Investment Management UK Ltd Takes $4.61 Million Position in Otis Worldwide Corporation $OTIS

Osmosis Investment Management UK Ltd purchased a new position in Otis Worldwide Corporation (NYSE:OTIS) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 64,322 shares of the company’s stock, valued at approximately $4,605,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Otis Worldwide during the second quarter worth approximately $2,264,017,000. State Street Corp lifted its position in shares of Otis Worldwide by 0.8% during the fourth quarter. State Street Corp now owns 16,128,197 shares of the company’s stock worth $1,408,798,000 after purchasing an additional 121,207 shares during the last quarter. Geode Capital Management LLC grew its stake in Otis Worldwide by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 10,788,225 shares of the company’s stock worth $945,020,000 after purchasing an additional 29,636 shares in the last quarter. Norges Bank acquired a new position in Otis Worldwide in the fourth quarter worth about $770,125,000. Finally, Franklin Resources Inc. increased its holdings in Otis Worldwide by 5.7% in the fourth quarter. Franklin Resources Inc. now owns 7,842,153 shares of the company’s stock valued at $685,012,000 after buying an additional 422,519 shares during the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Up 0.2%

OTIS opened at $71.65 on Monday. The company’s 50-day moving average price is $72.64 and its 200 day moving average price is $77.56. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $94.57. The firm has a market cap of $27.27 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.Otis Worldwide’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Research analysts anticipate that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. Otis Worldwide’s payout ratio is currently 45.24%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Sanford C. Bernstein cut their price objective on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. Morgan Stanley set a $75.00 target price on Otis Worldwide in a research report on Monday, August 10th. Royal Bank Of Canada set a $90.00 price target on Otis Worldwide in a report on Tuesday, July 28th. Evercore reissued an “outperform” rating and set a $95.00 price target on shares of Otis Worldwide in a research report on Thursday, July 23rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Otis Worldwide has a consensus rating of “Hold” and an average price target of $92.91.

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.