National Pension Service Has $54.52 Million Stock Position in Otis Worldwide Corporation $OTIS

National Pension Service raised its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 16.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 761,439 shares of the company’s stock after purchasing an additional 108,638 shares during the quarter. National Pension Service’s holdings in Otis Worldwide were worth $54,519,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Orion Capital Management LLC acquired a new position in Otis Worldwide in the 2nd quarter valued at about $27,000. Garton & Associates Financial Advisors LLC bought a new position in Otis Worldwide in the 4th quarter valued at about $27,000. MidFirst Bank acquired a new position in Otis Worldwide during the second quarter valued at approximately $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Otis Worldwide during the 2nd quarter valued at approximately $28,000. Finally, Elevation Wealth Partners LLC increased its holdings in Otis Worldwide by 1,910.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock worth $29,000 after purchasing an additional 382 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Stock Performance

NYSE OTIS opened at $69.07 on Friday. The company has a fifty day moving average of $72.10 and a 200-day moving average of $75.57. The company has a market capitalization of $26.29 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.43 and a beta of 0.88. Otis Worldwide Corporation has a 52-week low of $67.64 and a 52-week high of $94.57.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the firm posted $1.05 earnings per share. The business’s quarterly revenue 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. As a group, analysts forecast that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 14th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. Otis Worldwide’s payout ratio is presently 45.24%.

Analyst Upgrades and Downgrades

OTIS has been the subject of several analyst reports. Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a report on Tuesday, July 28th. Morgan Stanley set a $75.00 price target on shares of Otis Worldwide in a research report on Monday, August 10th. Sanford C. Bernstein decreased their price target on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Evercore restated an “outperform” rating and set a $95.00 price objective on shares of Otis Worldwide in a research note on Thursday, July 23rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Four 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 company’s stock. According to data from MarketBeat.com, Otis Worldwide has a consensus rating of “Hold” and an average target price of $92.91.

About Otis Worldwide

Otis Worldwide Corporation (NYSE: OTIS) designs, manufactures, installs and services elevators, escalators and moving walkways. Its equipment is used in residential, commercial, institutional, transportation and industrial buildings, supporting the movement of people in high-rise and other densely occupied environments.

The company’s offerings include passenger and freight elevators, escalators, moving walkways, destination-dispatch systems and related technologies. Otis also provides maintenance, repair, modernization and replacement services for its own equipment and products made by other manufacturers.