Hsbc Holdings PLC Grows Position in Otis Worldwide Corporation $OTIS

Hsbc Holdings PLC raised its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 23.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 870,045 shares of the company’s stock after acquiring an additional 164,978 shares during the period. Hsbc Holdings PLC owned about 0.22% of Otis Worldwide worth $76,043,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Pure Financial Advisors LLC purchased a new position in Otis Worldwide during the fourth quarter worth about $228,000. Rehmann Capital Advisory Group increased its stake in Otis Worldwide by 6.2% in the 4th quarter. Rehmann Capital Advisory Group now owns 6,656 shares of the company’s stock valued at $582,000 after buying an additional 391 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Otis Worldwide by 61.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,913 shares of the company’s stock valued at $167,000 after buying an additional 731 shares during the last quarter. Reflection Asset Management bought a new position in shares of Otis Worldwide during the 4th quarter worth approximately $34,000. Finally, Wick Capital Partners LLC bought a new position in shares of Otis Worldwide during the 4th quarter worth approximately $248,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wolfe Research lowered Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Sanford C. Bernstein started coverage on Otis Worldwide in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $97.00 price objective on the stock. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a research note on Friday, April 24th. Wells Fargo & Company decreased their target price on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 1st. Finally, UBS Group set a $105.00 target price on Otis Worldwide in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $97.58.

Otis Worldwide Trading Down 1.2%

Otis Worldwide stock opened at $72.40 on Tuesday. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $101.42. The business’s 50 day simple moving average is $74.33 and its 200 day simple moving average is $82.45. The company has a market cap of $27.78 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 2.39 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, equities research analysts forecast that Otis Worldwide Corporation will post 4.2 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were issued a $0.44 dividend. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.76 annualized dividend and a yield of 2.4%. Otis Worldwide’s payout ratio is 46.81%.

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.