Swiss National Bank Increases Position in Otis Worldwide Corporation $OTIS

Swiss National Bank increased its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 6.3% during the first quarter, Holdings Channel reports. The fund owned 1,143,643 shares of the company’s stock after acquiring an additional 68,000 shares during the quarter. Swiss National Bank’s holdings in Otis Worldwide were worth $88,152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Camelot Portfolios LLC purchased a new position in shares of Otis Worldwide during the 4th quarter worth $26,000. Garton & Associates Financial Advisors LLC purchased a new position in Otis Worldwide during the fourth quarter worth about $27,000. Elevation Wealth Partners LLC acquired a new stake in Otis Worldwide in the 4th quarter worth about $32,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Otis Worldwide during the 4th quarter valued at about $33,000. Finally, Reflection Asset Management purchased a new stake in Otis Worldwide in the fourth quarter valued at approximately $34,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Stock Performance

Otis Worldwide stock opened at $73.55 on Tuesday. The company has a market cap of $28.22 billion, a P/E ratio of 19.56, a PEG ratio of 2.64 and a beta of 0.90. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $101.14. The firm’s 50-day moving average is $72.08 and its 200-day moving average is $80.38.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The company had revenue of $3.57 billion during 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 business’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, sell-side analysts predict that Otis Worldwide Corporation will post 4.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Sanford C. Bernstein began coverage on Otis Worldwide in a report on Tuesday, June 9th. They issued an “outperform” rating and a $97.00 target price on the stock. Wolfe Research lowered Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. UBS Group set a $105.00 price target on Otis Worldwide in a research report on Thursday, April 23rd. Evercore initiated coverage on shares of Otis Worldwide in a research note on Monday, April 13th. They issued an “outperform” rating and a $100.00 target price for the company. Finally, Weiss Ratings downgraded Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Otis Worldwide currently has a consensus rating of “Hold” and a consensus price target of $96.55.

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.