OneDigital Investment Advisors LLC bought a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS – Free Report) in the second quarter, Holdings Channel.com reports. The firm bought 7,120 shares of the company’s stock, valued at approximately $510,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Pinnacle Financial Partners Inc. increased its position 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. Capital Research Global Investors boosted its position in Otis Worldwide by 0.6% during the 4th quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock worth $248,417,000 after acquiring an additional 18,189 shares during the period. Lazard Freres Gestion S.A.S. grew its stake in shares of 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 purchasing an additional 235,316 shares in the last quarter. Banco Santander S.A. grew its stake in shares of 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 purchasing an additional 97,778 shares in the last quarter. Finally, Danske Bank A S increased its holdings in shares of Otis Worldwide by 13.3% during the fourth quarter. Danske Bank A S now owns 225,994 shares of the company’s stock valued at $19,741,000 after purchasing an additional 26,500 shares during the period. Institutional investors own 88.03% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on OTIS shares. 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. Barclays dropped their price target on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 23rd. Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a research note on Tuesday, July 28th. Morgan Stanley set a $75.00 price objective on shares of Otis Worldwide in a report on Monday, August 10th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Four equities 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 stock. According to MarketBeat.com, Otis Worldwide has an average rating of “Hold” and an average target price of $92.91.
Otis Worldwide Stock Down 0.1%
OTIS opened at $70.50 on Wednesday. The business has a fifty day simple moving average of $72.54 and a 200-day simple moving average of $77.86. The firm has a market cap of $26.84 billion, a PE ratio of 18.12, a P/E/G ratio of 2.56 and a beta of 0.89. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $94.57.
Otis Worldwide (NYSE:OTIS – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.76 billion. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities research analysts anticipate that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.
Otis Worldwide Dividend Announcement
The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.5%. Otis Worldwide’s payout ratio is currently 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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