Otis Worldwide Corporation $OTIS Stock Holdings Increased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp raised its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 160.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,201 shares of the company’s stock after buying an additional 23,557 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Otis Worldwide were worth $2,945,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of OTIS. Camelot Portfolios LLC bought a new stake in shares of Otis Worldwide in the 4th quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC bought a new position in Otis Worldwide during the fourth quarter worth $27,000. Kohmann Bosshard Financial Services LLC bought a new position in Otis Worldwide during the fourth quarter worth $33,000. Reflection Asset Management bought a new position in Otis Worldwide during the fourth quarter worth $34,000. Finally, MidFirst Bank acquired a new position in Otis Worldwide in the fourth quarter worth $35,000. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

NYSE:OTIS opened at $73.70 on Wednesday. The firm has a market capitalization of $28.06 billion, a P/E ratio of 18.95, a P/E/G ratio of 2.59 and a beta of 0.90. The business has a 50 day simple moving average of $72.05 and a 200 day simple moving average of $79.68. 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 earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. The firm 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 firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the company earned $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Research analysts anticipate that Otis Worldwide Corporation will post 4 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s dividend payout ratio (DPR) is 45.24%.

Analyst Ratings Changes

OTIS has been the subject of several recent research reports. Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a research note on Friday, April 24th. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Sanford C. Bernstein decreased their price target on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. UBS Group set a $105.00 price objective on shares of Otis Worldwide in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a research note on Tuesday. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $94.09.

About Otis Worldwide

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.