Mill Capital Management LLC acquired a new position in shares of Otis Worldwide Corporation (NYSE:OTIS – Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 144,579 shares of the company’s stock, valued at approximately $10,352,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp lifted its position in Otis Worldwide by 0.8% in the fourth quarter. State Street Corp now owns 16,128,197 shares of the company’s stock valued at $1,408,798,000 after buying an additional 121,207 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Otis Worldwide by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 10,788,225 shares of the company’s stock valued at $945,020,000 after acquiring an additional 29,636 shares during the last quarter. Norges Bank acquired a new stake in shares of Otis Worldwide during the fourth quarter valued at about $770,125,000. Franklin Resources Inc. raised its stake in shares of Otis Worldwide by 5.7% in the 4th quarter. Franklin Resources Inc. now owns 7,842,153 shares of the company’s stock valued at $685,012,000 after acquiring an additional 422,519 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Otis Worldwide by 97.9% in the 4th quarter. Van ECK Associates Corp now owns 4,002,589 shares of the company’s stock valued at $349,626,000 after acquiring an additional 1,979,819 shares during the period. 88.03% of the stock is currently owned by hedge funds and other institutional investors.
Key Otis Worldwide News
Here are the key news stories impacting Otis Worldwide this week:
- Positive Sentiment: Despite the cuts, Zacks Research still projects earnings growth from approximately $4.04 per share in fiscal 2026 to $4.41 in fiscal 2027 and $4.89 in fiscal 2028. The fiscal 2026 estimate is also slightly above the broader consensus of $4.03 per share. Otis Worldwide analyst estimates
- Neutral Sentiment: An MSN page provides updated analyst estimates and ratings for Otis Worldwide, but the supplied information does not specify individual analyst recommendations or price targets. Otis Worldwide stock: Analyst estimates and ratings
- Negative Sentiment: Zacks lowered its fiscal 2026 EPS forecast to $4.04 from $4.22, fiscal 2027 to $4.41 from $4.67, and fiscal 2028 to $4.89 from $5.23. These reductions point to weaker expected profitability than previously forecast.
- Negative Sentiment: Quarterly estimates were also reduced: Q3 2026 EPS fell to $1.01 from $1.14, Q4 2026 to $1.13 from $1.18, and Q1 2027 to $1.02 from $1.05. Additional cuts affected Q2 and Q3 2027, Q4 2027, and the first two quarters of 2028.
Wall Street Analysts Forecast Growth
Read Our Latest Report on Otis Worldwide
Otis Worldwide Price Performance
Shares of NYSE:OTIS opened at $72.61 on Friday. The firm has a market capitalization of $27.64 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 2.57 and a beta of 0.89. The firm’s 50-day moving average is $72.54 and its two-hundred day moving average is $78.22. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57.
Otis Worldwide (NYSE:OTIS – Get Free Report) last issued its quarterly earnings results 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 net margin of 10.17% and a negative return on equity of 28.50%. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the company earned $1.05 earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Analysts expect that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.
Otis Worldwide Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s dividend payout ratio is presently 45.24%.
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.
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