OMERS ADMINISTRATION Corp Makes New Investment in Otis Worldwide Corporation $OTIS

OMERS ADMINISTRATION Corp purchased a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) in the second quarter, HoldingsChannel reports. The institutional investor purchased 42,219 shares of the company’s stock, valued at approximately $3,023,000.

Several other hedge funds also recently modified their holdings of OTIS. Jones Financial Companies Lllp lifted its holdings in shares of Otis Worldwide by 3.4% in the first quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock valued at $949,000 after buying an additional 304 shares during the period. Empowered Funds LLC boosted its stake in Otis Worldwide by 10.5% during the first quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock valued at $928,000 after buying an additional 857 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Otis Worldwide by 63.7% during the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock worth $417,000 after acquiring an additional 1,574 shares during the period. Baird Financial Group Inc. grew its holdings in Otis Worldwide by 7.1% during the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock worth $3,193,000 after acquiring an additional 2,132 shares during the period. Finally, NewEdge Advisors LLC raised its position in Otis Worldwide by 13.3% in 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 in the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Stock Down 0.9%

NYSE:OTIS opened at $71.56 on Wednesday. Otis Worldwide Corporation has a 1-year low of $69.16 and a 1-year high of $94.57. The firm has a market capitalization of $27.24 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 2.54 and a beta of 0.89. The stock has a fifty day simple moving average of $72.61 and a 200 day simple moving average of $77.32.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the company earned $1.05 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Equities analysts predict that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. Otis Worldwide’s payout ratio is currently 45.24%.

Analysts Set New Price Targets

OTIS has been the subject of a number of research analyst reports. Morgan Stanley set a $75.00 price target on shares of Otis Worldwide in a report on Monday, August 10th. Sanford C. Bernstein dropped their target price on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Evercore reissued an “outperform” rating and set a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 target price on shares of Otis Worldwide in a report on Tuesday, July 28th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $92.91.

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.