Bank Pictet & Cie Europe AG lifted its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS – Free Report) by 154.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,851 shares of the company’s stock after purchasing an additional 19,947 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Otis Worldwide were worth $2,113,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in OTIS. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Otis Worldwide by 2.2% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,546 shares of the company’s stock worth $3,444,000 after buying an additional 1,130 shares during the period. IFP Advisors Inc boosted its position in Otis Worldwide by 12.7% in the 3rd quarter. IFP Advisors Inc now owns 29,415 shares of the company’s stock valued at $1,892,000 after buying an additional 3,306 shares during the period. TD Waterhouse Canada Inc. boosted its position in Otis Worldwide by 14.9% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 19,566 shares of the company’s stock valued at $1,262,000 after buying an additional 2,533 shares during the period. Banque Pictet & Cie SA grew its stake in shares of Otis Worldwide by 22.8% in the third quarter. Banque Pictet & Cie SA now owns 63,457 shares of the company’s stock worth $4,082,000 after acquiring an additional 11,800 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of Otis Worldwide by 16.8% in the third quarter. V Square Quantitative Management LLC now owns 5,458 shares of the company’s stock worth $351,000 after acquiring an additional 785 shares in the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently weighed in on OTIS. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Royal Bank Of Canada set a $90.00 target price on Otis Worldwide in a report on Tuesday, July 28th. Sanford C. Bernstein reissued an “outperform” rating on shares of Otis Worldwide in a research note on Monday, September 21st. Wells Fargo & Company began coverage on Otis Worldwide in a report on Thursday, September 24th. They set an “underweight” rating and a $77.00 price target on the stock. Finally, Evercore reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Otis Worldwide in a research report on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and an average price target of $91.00.
Check Out Our Latest Analysis on Otis Worldwide
Otis Worldwide Trading Up 1.2%
NYSE:OTIS traded up $0.82 during trading hours on Tuesday, hitting $71.86. The company’s stock had a trading volume of 1,068,822 shares, compared to its average volume of 3,893,500. Otis Worldwide Corporation has a 52-week low of $63.58 and a 52-week high of $94.57. The stock has a market capitalization of $27.36 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 2.50 and a beta of 0.87. The stock has a fifty day moving average of $69.29 and a 200-day moving average of $72.37.
Otis Worldwide (NYSE:OTIS – Get Free Report) last released 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. 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 analysts’ expectations of $3.76 billion. During the same period in the prior year, the firm posted $1.05 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, sell-side analysts forecast that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.
Otis Worldwide Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 14th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, August 14th. This represents a $1.76 annualized dividend and a yield of 2.4%. Otis Worldwide’s payout ratio is presently 45.24%.
Otis Worldwide Company Profile
Otis Worldwide Corporation (NYSE: OTIS) is a global manufacturer and service provider for the elevator and escalator industry. The company designs, manufactures, installs, modernizes and maintains elevators, escalators and moving walkways for commercial buildings, residential developments, transportation hubs and other infrastructure projects.
Otis provides equipment for new construction as well as maintenance, repair and modernization services for existing systems. Its service operations support equipment from Otis and other manufacturers, helping building owners and operators manage the safety, performance and lifecycle of vertical transportation systems.
The company traces its history to 1853, when Elisha Otis demonstrated a safety device for elevators.
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