Danske Bank A S Raises Holdings in Otis Worldwide Corporation $OTIS

Danske Bank A S lifted its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 13.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,994 shares of the company’s stock after purchasing an additional 26,500 shares during the period. Danske Bank A S’s holdings in Otis Worldwide were worth $19,741,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Allied Investment Advisors LLC raised its holdings in shares of Otis Worldwide by 6.0% in the 3rd quarter. Allied Investment Advisors LLC now owns 118,761 shares of the company’s stock valued at $10,858,000 after purchasing an additional 6,770 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Otis Worldwide by 54.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,890,482 shares of the company’s stock valued at $264,277,000 after purchasing an additional 1,013,876 shares during the period. SG Americas Securities LLC raised its holdings in shares of Otis Worldwide by 12,345.2% in the 4th quarter. SG Americas Securities LLC now owns 499,177 shares of the company’s stock valued at $43,603,000 after purchasing an additional 495,166 shares during the period. Pinnacle Financial Partners Inc. raised its holdings in Otis Worldwide by 19.6% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock valued at $7,085,000 after acquiring an additional 12,721 shares during the period. Finally, Canoe Financial LP raised its holdings in Otis Worldwide by 15.6% in the 4th quarter. Canoe Financial LP now owns 2,787,870 shares of the company’s stock valued at $243,520,000 after acquiring an additional 375,914 shares during the period. 88.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Otis Worldwide

In other news, CEO Judith Fran Marks sold 56,107 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $90.89, for a total transaction of $5,099,565.23. Following the transaction, the chief executive officer directly owned 231,072 shares of the company’s stock, valued at approximately $21,002,134.08. This trade represents a 19.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Neil Green sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $86.45, for a total transaction of $518,700.00. Following the transaction, the executive vice president directly owned 3,773 shares in the company, valued at $326,175.85. This represents a 61.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 158,013 shares of company stock valued at $14,337,635 over the last ninety days. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on OTIS. Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a report on Friday, April 24th. Wall Street Zen cut shares of Otis Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Royal Bank Of Canada lowered their price target on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Barclays lowered their price target on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 23rd. Finally, Evercore began coverage on shares of Otis Worldwide in a report on Monday, April 13th. They issued an “outperform” rating and a $100.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $97.64.

Otis Worldwide Trading Down 1.0%

Shares of OTIS opened at $77.11 on Friday. Otis Worldwide Corporation has a 12 month low of $75.27 and a 12 month high of $101.42. The firm’s 50 day moving average is $82.33 and its 200-day moving average is $86.91. The stock has a market capitalization of $29.59 billion, a PE ratio of 20.51, a P/E/G ratio of 2.53 and a beta of 0.95.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The business had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the business posted $0.92 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Equities research analysts predict that Otis Worldwide Corporation will post 4.18 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.44 per share. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, May 15th. Otis Worldwide’s payout ratio is 44.68%.

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.