Jefferies Financial Group Inc. acquired a new position in Otis Worldwide Corporation (NYSE:OTIS – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 193,236 shares of the company’s stock, valued at approximately $13,836,000. Jefferies Financial Group Inc. owned 0.05% of Otis Worldwide as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Otis Worldwide in the 2nd quarter worth approximately $2,264,017,000. State Street Corp grew its holdings in Otis Worldwide by 0.8% during the 4th 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 in the last quarter. Geode Capital Management LLC grew its holdings in Otis Worldwide by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 10,788,225 shares of the company’s stock valued at $945,020,000 after buying an additional 29,636 shares in the last quarter. Norges Bank bought a new stake in shares of Otis Worldwide during the fourth quarter valued at approximately $770,125,000. Finally, Franklin Resources Inc. raised its position in shares of Otis Worldwide by 5.7% during the fourth quarter. Franklin Resources Inc. now owns 7,842,153 shares of the company’s stock valued at $685,012,000 after buying an additional 422,519 shares during the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. Evercore reissued an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a report on Thursday, July 23rd. Sanford C. Bernstein cut their target price on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. 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 objective on shares of Otis Worldwide in a report on Monday, August 10th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Otis Worldwide presently has an average rating of “Hold” and a consensus target price of $92.91.
Otis Worldwide Price Performance
Shares of OTIS stock opened at $71.47 on Friday. The company has a market cap of $27.21 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 2.55 and a beta of 0.89. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The stock’s 50 day simple moving average is $72.57 and its two-hundred day simple moving average is $77.06.
Otis Worldwide (NYSE:OTIS – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Equities research analysts expect that Otis Worldwide Corporation will post 4.03 EPS for the current year.
Otis Worldwide Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders 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 2.5%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s payout ratio is presently 45.24%.
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.
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