Nykredit A S Takes $6.28 Million Position in Otis Worldwide Corporation $OTIS

Nykredit A S bought a new stake in Otis Worldwide Corporation (NYSE:OTIS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 87,658 shares of the company’s stock, valued at approximately $6,276,000.

Several other hedge funds have also made changes to their positions in OTIS. Garton & Associates Financial Advisors LLC purchased a new position in Otis Worldwide in the fourth quarter worth approximately $27,000. Orion Capital Management LLC acquired a new position in Otis Worldwide in the 2nd quarter valued at about $27,000. Reflection Asset Management acquired a new position in shares of Otis Worldwide in the fourth quarter valued at approximately $34,000. MidFirst Bank acquired a new position in shares of Otis Worldwide in the fourth quarter worth $35,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Otis Worldwide during the 2nd quarter worth about $28,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Wall Street Analyst Weigh In

OTIS has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Sanford C. Bernstein dropped their price target 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 price objective on shares of Otis Worldwide in a research note on Monday, August 10th. Evercore reissued an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a research note on Tuesday, July 28th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Otis Worldwide currently has a consensus rating of “Hold” and an average price target of $92.91.

Otis Worldwide Price Performance

Shares of NYSE OTIS opened at $71.19 on Monday. The company has a 50-day simple moving average of $72.37 and a 200-day simple moving average of $76.27. The company has a market cap of $27.10 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.51 and a beta of 0.88. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $94.57.

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

Otis Worldwide Announces Dividend

The business also recently declared 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 of this dividend is Friday, August 14th. This represents a $1.76 annualized dividend and a yield of 2.5%. Otis Worldwide’s dividend payout ratio is 45.24%.

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.