Auto Owners Insurance Co Has $48.78 Million Stock Holdings in Otis Worldwide Corporation $OTIS

Auto Owners Insurance Co raised its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 8,635.0% in the fourth quarter, Holdings Channel reports. The fund owned 558,429 shares of the company’s stock after acquiring an additional 552,036 shares during the period. Auto Owners Insurance Co’s holdings in Otis Worldwide were worth $48,779,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Camelot Portfolios LLC bought a new position in Otis Worldwide in the fourth quarter valued at approximately $26,000. Stance Capital LLC bought a new stake in Otis Worldwide in the 3rd quarter valued at $27,000. Garton & Associates Financial Advisors LLC bought a new stake in Otis Worldwide in the 4th quarter valued at $27,000. Elevation Wealth Partners LLC acquired a new position in Otis Worldwide in the 4th quarter worth $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Otis Worldwide in the 4th quarter worth $33,000. 88.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on OTIS. Evercore started coverage on Otis Worldwide in a research note on Monday, April 13th. They issued an “outperform” rating and a $100.00 target price on the stock. UBS Group set a $105.00 price target on shares of Otis Worldwide in a research note on Thursday, April 23rd. Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Morgan Stanley set a $88.00 price objective on shares of Otis Worldwide in a research report on Friday, April 24th. Finally, Royal Bank Of Canada reduced their target price on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. One investment 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $97.58.

Otis Worldwide Trading Down 0.1%

NYSE OTIS opened at $73.22 on Friday. Otis Worldwide Corporation has a 1-year low of $69.16 and a 1-year high of $101.42. The company has a 50 day moving average of $74.51 and a 200-day moving average of $82.59. The company has a market cap of $28.09 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 2.39 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last issued 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). Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the company earned $0.92 EPS. The company’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. On average, equities research analysts forecast that Otis Worldwide Corporation will post 4.2 earnings per share for the current year.

Otis Worldwide Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 15th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.76 annualized dividend and a yield of 2.4%. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s payout ratio 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.