Otis Worldwide Corporation $OTIS Shares Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 58.5% during the 1st quarter, Holdings Channel reports. The fund owned 24,424 shares of the company’s stock after purchasing an additional 9,018 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Otis Worldwide were worth $1,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Jones Financial Companies Lllp grew its position in Otis Worldwide by 3.4% during the 1st quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock worth $949,000 after purchasing an additional 304 shares during the period. Empowered Funds LLC lifted its holdings in shares of Otis Worldwide by 10.5% in the 1st quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock valued at $928,000 after buying an additional 857 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Otis Worldwide by 63.7% in the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock worth $417,000 after buying an additional 1,574 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of Otis Worldwide by 7.1% in the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock worth $3,193,000 after buying an additional 2,132 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Otis Worldwide by 13.3% during the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock worth $1,012,000 after acquiring an additional 1,196 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

Otis Worldwide stock opened at $71.98 on Friday. The stock has a market capitalization of $27.40 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.54 and a beta of 0.90. The company’s fifty day moving average price is $72.08 and its 200 day moving average price is $79.38. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Sell-side analysts predict that Otis Worldwide Corporation will post 4 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. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, August 14th. Otis Worldwide’s dividend payout ratio is 45.24%.

Wall Street Analysts Forecast Growth

OTIS has been the subject of several recent research reports. Sanford C. Bernstein reduced their price target on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Evercore restated an “outperform” rating and issued a $95.00 price objective on shares of Otis Worldwide in a research report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a research note on Tuesday. Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Finally, Barclays decreased their target price on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $94.09.

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.