Otis Worldwide Corporation $OTIS Shares Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH grew its position in Otis Worldwide Corporation (NYSE:OTIS) by 47.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 188,083 shares of the company’s stock after acquiring an additional 60,565 shares during the quarter. Erste Asset Management GmbH’s holdings in Otis Worldwide were worth $16,512,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of OTIS. Norges Bank acquired a new stake in shares of Otis Worldwide in the fourth quarter valued at approximately $770,125,000. Van ECK Associates Corp boosted its holdings in shares of Otis Worldwide by 3,464.3% in the third quarter. Van ECK Associates Corp now owns 2,022,770 shares of the company’s stock valued at $184,942,000 after acquiring an additional 1,966,019 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Otis Worldwide by 125.7% during the third quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company’s stock worth $236,891,000 after purchasing an additional 1,445,904 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of Otis Worldwide by 199.6% during the third quarter. Squarepoint Ops LLC now owns 2,030,095 shares of the company’s stock worth $185,612,000 after purchasing an additional 1,352,530 shares during the period. Finally, Independent Franchise Partners LLP acquired a new stake in shares of Otis Worldwide during the third quarter worth $100,435,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. UBS Group set a $105.00 price target on Otis Worldwide in a report on Thursday, April 23rd. Wells Fargo & Company decreased their price target on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. Wolfe Research downgraded Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Royal Bank Of Canada decreased their price target on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, Morgan Stanley set a $88.00 price target on Otis Worldwide in a report on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $97.64.

Otis Worldwide Stock Performance

Otis Worldwide stock opened at $69.57 on Tuesday. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $101.42. The business has a fifty day moving average of $75.54 and a two-hundred day moving average of $83.57. The company has a market cap of $26.69 billion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 2.29 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the business posted $0.92 EPS. Otis Worldwide’s 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. Sell-side analysts predict that Otis Worldwide Corporation will post 4.2 EPS for the current year.

Otis Worldwide Increases Dividend

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

Otis Worldwide Company 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.