denkapparat Operations GmbH Buys New Shares in Otis Worldwide Corporation $OTIS

denkapparat Operations GmbH bought a new position in Otis Worldwide Corporation (NYSE:OTIS) in the second quarter, Holdings Channel.com reports. The firm bought 11,576 shares of the company’s stock, valued at approximately $829,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. raised its stake in shares of Otis Worldwide by 175.1% in the second quarter. TD Waterhouse Canada Inc. now owns 17,033 shares of the company’s stock worth $1,203,000 after purchasing an additional 10,842 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in Otis Worldwide by 13.1% in the second quarter. Concurrent Investment Advisors LLC now owns 8,690 shares of the company’s stock valued at $622,000 after buying an additional 1,007 shares during the last quarter. NEOS Investment Management LLC increased its holdings in Otis Worldwide by 3.2% in the 2nd quarter. NEOS Investment Management LLC now owns 63,814 shares of the company’s stock worth $4,569,000 after buying an additional 2,000 shares during the period. AXQ Capital LP increased its holdings in Otis Worldwide by 6.8% in the 2nd quarter. AXQ Capital LP now owns 68,599 shares of the company’s stock worth $4,912,000 after buying an additional 4,397 shares during the period. Finally, Continuum Advisory LLC purchased a new position in Otis Worldwide during the 2nd quarter worth approximately $134,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Trading Up 1.0%

Shares of NYSE:OTIS opened at $71.53 on Friday. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $94.57. The business has a 50 day moving average of $72.41 and a two-hundred day moving average of $76.40. The company has a market capitalization of $27.23 billion, a PE ratio of 18.39, a PEG ratio of 2.49 and a beta of 0.88.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Equities research analysts predict that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

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

Analysts Set New Price Targets

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