BNP Paribas Financial Markets Acquires 92,593 Shares of Otis Worldwide Corporation $OTIS

BNP Paribas Financial Markets boosted its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 18.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 586,696 shares of the company’s stock after purchasing an additional 92,593 shares during the quarter. BNP Paribas Financial Markets owned 0.15% of Otis Worldwide worth $51,248,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Camelot Portfolios LLC bought a new stake in shares of Otis Worldwide during the 4th quarter valued at $26,000. Stance Capital LLC bought a new position in shares of Otis Worldwide in the third quarter worth $27,000. Physician Wealth Advisors Inc. increased its position in shares of Otis Worldwide by 57.7% in the third quarter. Physician Wealth Advisors Inc. now owns 339 shares of the company’s stock worth $31,000 after purchasing an additional 124 shares during the period. Westside Investment Management Inc. raised its stake in Otis Worldwide by 100.0% in the third quarter. Westside Investment Management Inc. now owns 336 shares of the company’s stock valued at $31,000 after purchasing an additional 168 shares in the last quarter. Finally, Elevation Wealth Partners LLC acquired a new position in Otis Worldwide in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Price Performance

OTIS stock opened at $70.23 on Wednesday. The stock has a market cap of $26.95 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 2.26 and a beta of 0.91. The company has a 50 day simple moving average of $76.39 and a 200 day simple moving average of $84.25. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $101.42.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The company had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, equities research analysts anticipate that Otis Worldwide Corporation will post 4.2 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 15th will be issued a $0.44 dividend. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. Otis Worldwide’s dividend payout ratio (DPR) is 46.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Royal Bank Of Canada dropped their target price on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a report on Friday, April 24th. Barclays decreased their price objective on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research note on Thursday, April 23rd. Finally, Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $97.64.

About Otis Worldwide

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.