Otis Worldwide Corporation $OTIS Shares Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp boosted its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 44.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 170,600 shares of the company’s stock after acquiring an additional 52,200 shares during the quarter. Alberta Investment Management Corp’s holdings in Otis Worldwide were worth $14,902,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Camelot Portfolios LLC acquired a new stake in shares of Otis Worldwide during the fourth quarter worth about $26,000. Stance Capital LLC purchased a new stake in Otis Worldwide in the third quarter valued at approximately $27,000. Garton & Associates Financial Advisors LLC acquired a new position in Otis Worldwide in the 4th quarter worth approximately $27,000. Elevation Wealth Partners LLC acquired a new position in Otis Worldwide in the 4th quarter worth approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Otis Worldwide during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OTIS. Wells Fargo & Company decreased their price objective 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. Evercore assumed coverage on Otis Worldwide in a report on Monday, April 13th. They set an “outperform” rating and a $100.00 target price on the stock. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research 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, Barclays lowered their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Otis Worldwide presently has an average rating of “Hold” and an average price target of $97.58.

Otis Worldwide Price Performance

Otis Worldwide stock opened at $73.22 on Friday. The stock has a market capitalization of $28.09 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 2.37 and a beta of 0.91. The business has a 50 day simple moving average of $74.63 and a 200-day simple moving average of $82.66. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $101.42.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) 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%. Otis Worldwide’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $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 business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 15th were paid a dividend of $0.44 per share. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, May 15th. Otis Worldwide’s dividend payout ratio is presently 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.