Great Lakes Advisors LLC Has $46.61 Million Stock Holdings in Otis Worldwide Corporation $OTIS

Great Lakes Advisors LLC grew its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 51.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 533,611 shares of the company’s stock after purchasing an additional 180,433 shares during the quarter. Great Lakes Advisors LLC owned about 0.14% of Otis Worldwide worth $46,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Camelot Portfolios LLC acquired a new position in shares of Otis Worldwide in the 4th quarter valued at about $26,000. Stance Capital LLC acquired a new position in shares of Otis Worldwide in the 3rd quarter valued at about $27,000. Elevation Wealth Partners LLC bought a new stake in Otis Worldwide in the 4th quarter valued at about $32,000. Kohmann Bosshard Financial Services LLC bought a new stake in Otis Worldwide in the 4th quarter valued at about $33,000. Finally, Board of the Pension Protection Fund bought a new stake in Otis Worldwide in the 4th quarter valued at about $35,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Stock Performance

Shares of OTIS opened at $70.23 on Friday. The stock has a 50 day moving average price of $75.18 and a two-hundred day moving average price of $83.22. The firm has a market capitalization of $26.95 billion, a P/E ratio of 18.68, a P/E/G ratio of 2.27 and a beta of 0.91. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $101.42.

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

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, May 15th. 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. Otis Worldwide’s dividend payout ratio is presently 46.81%.

Wall Street Analyst Weigh In

OTIS has been the subject of a number of research analyst reports. UBS Group set a $105.00 target price on Otis Worldwide in a research report on Thursday, April 23rd. Weiss Ratings lowered Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Evercore initiated coverage on Otis Worldwide in a research report on Monday, April 13th. They issued an “outperform” rating and a $100.00 target price for the company. Wells Fargo & Company decreased their target price on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 1st. Finally, Barclays decreased their target price on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Otis Worldwide presently has a consensus rating of “Hold” and a consensus target price of $97.58.

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.