OP Asset Management Ltd Makes New Investment in Otis Worldwide Corporation $OTIS

OP Asset Management Ltd purchased a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 50,070 shares of the company’s stock, valued at approximately $3,859,000.

Several other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in Otis Worldwide during the 1st quarter valued at about $706,000. Apella Capital LLC raised its holdings in shares of Otis Worldwide by 39.5% during the first quarter. Apella Capital LLC now owns 4,157 shares of the company’s stock valued at $338,000 after buying an additional 1,177 shares during the last quarter. Coerente Capital Management raised its holdings in shares of Otis Worldwide by 26.6% during the first quarter. Coerente Capital Management now owns 227,914 shares of the company’s stock valued at $17,568,000 after buying an additional 47,848 shares during the last quarter. Sterneck Capital Management LLC boosted its position in shares of Otis Worldwide by 43.1% during the first quarter. Sterneck Capital Management LLC now owns 5,038 shares of the company’s stock worth $388,000 after buying an additional 1,518 shares during the period. Finally, Quotient Wealth Partners LLC boosted its position in shares of Otis Worldwide by 16.0% during the first quarter. Quotient Wealth Partners LLC now owns 6,445 shares of the company’s stock worth $497,000 after buying an additional 887 shares during the period. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

Shares of NYSE OTIS opened at $73.32 on Friday. The stock has a fifty day moving average price of $73.67 and a two-hundred day moving average price of $82.09. The firm has a market cap of $28.13 billion, a P/E ratio of 19.50, a PEG ratio of 2.40 and a beta of 0.91. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $101.42.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, research analysts predict that Otis Worldwide Corporation will post 4.2 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 15th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.4%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, May 15th. Otis Worldwide’s dividend payout ratio (DPR) is presently 46.81%.

Analyst Upgrades and Downgrades

Several analysts recently commented on OTIS shares. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Sanford C. Bernstein initiated coverage on Otis Worldwide in a research report on Tuesday, June 9th. They set an “outperform” rating and a $97.00 price target for the company. Barclays decreased their price target on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Thursday, April 23rd. Weiss Ratings lowered Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Finally, Royal Bank Of Canada cut their price objective on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.