denkapparat Operations GmbH Takes $829,000 Position in Otis Worldwide Corporation $OTIS

denkapparat Operations GmbH purchased a new position in Otis Worldwide Corporation (NYSE:OTIS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,576 shares of the company’s stock, valued at approximately $829,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Financial Partners Inc. lifted its position in shares of Otis Worldwide by 19.6% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock worth $7,085,000 after purchasing an additional 12,721 shares during the period. Capital Research Global Investors increased its holdings in Otis Worldwide by 0.6% during the fourth quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock valued at $248,417,000 after buying an additional 18,189 shares during the period. Banco Santander S.A. raised its stake in Otis Worldwide by 1,153.2% in the second quarter. Banco Santander S.A. now owns 106,257 shares of the company’s stock worth $7,608,000 after buying an additional 97,778 shares in the last quarter. Lazard Freres Gestion S.A.S. raised its stake in Otis Worldwide by 21.9% in the fourth quarter. Lazard Freres Gestion S.A.S. now owns 1,309,160 shares of the company’s stock worth $114,355,000 after buying an additional 235,316 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its holdings in Otis Worldwide by 44.1% during the fourth quarter. Alberta Investment Management Corp now owns 170,600 shares of the company’s stock worth $14,902,000 after buying an additional 52,200 shares during the period. 88.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Otis Worldwide Trading Up 1.0%

NYSE OTIS opened at $71.53 on Friday. The firm’s fifty day simple moving average is $72.41 and its two-hundred day simple moving average is $76.40. The firm has a market capitalization of $27.23 billion, a P/E ratio of 18.39, a P/E/G ratio of 2.49 and a beta of 0.88. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $94.57.

Otis Worldwide (NYSE:OTIS) last announced 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. 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 period in the previous year, the business earned $1.05 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, sell-side analysts predict that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.5%. Otis Worldwide’s dividend payout ratio is 45.24%.

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.