Swedbank AB Increases Stake in Otis Worldwide Corporation $OTIS

Swedbank AB grew its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 266,602 shares of the company’s stock after purchasing an additional 18,400 shares during the quarter. Swedbank AB’s holdings in Otis Worldwide were worth $20,550,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Camelot Portfolios LLC bought a new stake in Otis Worldwide during the 4th quarter valued at $26,000. Stance Capital LLC bought a new stake in Otis Worldwide in the 3rd quarter worth $27,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Otis Worldwide in the fourth quarter valued at about $27,000. Elevation Wealth Partners LLC purchased a new position in shares of Otis Worldwide in the fourth quarter valued at about $32,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Otis Worldwide during the fourth quarter valued at about $33,000. Institutional investors own 88.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OTIS. UBS Group set a $105.00 target price on Otis Worldwide in a research note on Thursday, April 23rd. Sanford C. Bernstein began 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. Weiss Ratings cut Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a research report on Friday, April 24th. Finally, Barclays reduced their target price on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $97.58.

Otis Worldwide Stock Up 0.0%

OTIS opened at $72.08 on Friday. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $101.42. The stock has a market cap of $27.66 billion, a PE ratio of 19.17, a PEG ratio of 2.56 and a beta of 0.90. The business has a 50 day moving average of $72.48 and a 200-day moving average of $81.09.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The firm had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.77 billion. Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.Otis Worldwide’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Equities analysts anticipate that Otis Worldwide Corporation will post 4.19 EPS for the current year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were given a dividend of $0.44 per share. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. Otis Worldwide’s dividend payout ratio is 46.81%.

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.