ABN Amro Investment Solutions Buys 21,238 Shares of Otis Worldwide Corporation $OTIS

ABN Amro Investment Solutions boosted its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 880.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,651 shares of the company’s stock after buying an additional 21,238 shares during the quarter. ABN Amro Investment Solutions’ holdings in Otis Worldwide were worth $2,066,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in OTIS. Allied Investment Advisors LLC lifted its position in Otis Worldwide by 6.0% in the third quarter. Allied Investment Advisors LLC now owns 118,761 shares of the company’s stock worth $10,858,000 after buying an additional 6,770 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Otis Worldwide by 54.0% in the third quarter. CIBC Private Wealth Group LLC now owns 2,890,482 shares of the company’s stock valued at $264,277,000 after acquiring an additional 1,013,876 shares during the period. SG Americas Securities LLC raised its stake in shares of Otis Worldwide by 12,345.2% in the fourth quarter. SG Americas Securities LLC now owns 499,177 shares of the company’s stock valued at $43,603,000 after acquiring an additional 495,166 shares during the period. Pinnacle Financial Partners Inc. lifted its holdings in shares of Otis Worldwide by 19.6% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock worth $7,085,000 after acquiring an additional 12,721 shares during the last quarter. Finally, Caprock Group LLC purchased a new stake in shares of Otis Worldwide in the third quarter worth approximately $982,000. Institutional investors own 88.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on OTIS. JPMorgan Chase & Co. cut shares of Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 price target on the stock. in a report on Friday, January 30th. Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Wells Fargo & Company reduced their target price on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 1st. Royal Bank Of Canada decreased their price target on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Finally, Morgan Stanley set a $88.00 price target on Otis Worldwide in a report on Friday, April 24th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $97.64.

Otis Worldwide Trading Up 1.6%

Shares of OTIS opened at $72.79 on Friday. The firm has a market cap of $27.93 billion, a PE ratio of 19.36, a P/E/G ratio of 2.34 and a beta of 0.95. Otis Worldwide Corporation has a 12 month low of $69.72 and a 12 month high of $101.42. The stock has a fifty day moving average price of $77.66 and a 200-day moving average price of $85.10.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the company posted $0.92 EPS. Otis Worldwide’s quarterly revenue was up 6.4% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, research analysts forecast that Otis Worldwide Corporation will post 4.19 EPS for the current year.

Otis Worldwide Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 15th will be given a dividend of $0.44 per share. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, May 15th. Otis Worldwide’s dividend payout ratio (DPR) is 46.81%.

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.