Van ECK Associates Corp raised its holdings in Otis Worldwide Corporation (NYSE:OTIS – Free Report) by 0.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,993,011 shares of the company’s stock after purchasing an additional 24,914 shares during the quarter. Van ECK Associates Corp owned 1.05% of Otis Worldwide worth $285,900,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of OTIS. Pinnacle Financial Partners Inc. lifted its stake in shares of Otis Worldwide by 19.6% in the third quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock valued at $7,085,000 after purchasing an additional 12,721 shares during the period. Capital Research Global Investors lifted its position in shares of Otis Worldwide by 0.6% during the 4th quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock valued at $248,417,000 after acquiring an additional 18,189 shares during the period. Banco Santander S.A. lifted its position in shares of Otis Worldwide by 1,153.2% during the 2nd quarter. Banco Santander S.A. now owns 106,257 shares of the company’s stock valued at $7,608,000 after acquiring an additional 97,778 shares during the period. Lazard Freres Gestion S.A.S. boosted its stake in shares of Otis Worldwide by 21.9% during the 4th quarter. Lazard Freres Gestion S.A.S. now owns 1,309,160 shares of the company’s stock worth $114,355,000 after acquiring an additional 235,316 shares in the last quarter. Finally, Danske Bank A S increased its stake in Otis Worldwide by 13.3% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on OTIS shares. Royal Bank Of Canada set a $90.00 price target on Otis Worldwide in a research report on Tuesday, July 28th. Evercore restated an “outperform” rating and set a $95.00 target price on shares of Otis Worldwide in a report on Thursday, July 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Morgan Stanley set a $75.00 price target on shares of Otis Worldwide in a research report on Monday, August 10th. Finally, Sanford C. Bernstein dropped their price objective 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. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $92.91.
Otis Worldwide Stock Performance
Shares of OTIS opened at $71.77 on Friday. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $94.57. The company has a market capitalization of $27.32 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. The stock has a fifty day moving average of $72.54 and a two-hundred day moving average of $77.02.
Otis Worldwide (NYSE:OTIS – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the business earned $1.05 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, equities research analysts forecast that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.
Otis Worldwide Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, August 14th. Otis Worldwide’s dividend payout ratio (DPR) is 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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