Otis Worldwide Corporation $OTIS Shares Bought by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 565.2% in the 1st quarter, Holdings Channel reports. The fund owned 171,203 shares of the company’s stock after buying an additional 145,464 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Otis Worldwide were worth $13,196,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its position in Otis Worldwide by 5.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company’s stock valued at $202,000 after purchasing an additional 123 shares during the last quarter. Boyd Watterson Asset Management LLC OH grew its holdings in Otis Worldwide by 4.0% in the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company’s stock worth $281,000 after buying an additional 124 shares in the last quarter. Moors & Cabot Inc. grew its holdings in Otis Worldwide by 2.7% in the 4th quarter. Moors & Cabot Inc. now owns 4,741 shares of the company’s stock worth $414,000 after buying an additional 126 shares in the last quarter. Composition Wealth LLC increased its position in Otis Worldwide by 4.2% in the 4th quarter. Composition Wealth LLC now owns 3,258 shares of the company’s stock valued at $285,000 after acquiring an additional 131 shares during the period. Finally, Cary Street Partners Financial LLC increased its position in Otis Worldwide by 2.6% in the 3rd quarter. Cary Street Partners Financial LLC now owns 5,165 shares of the company’s stock valued at $472,000 after acquiring an additional 132 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OTIS. Wolfe Research lowered Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Wells Fargo & Company lowered their price target on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. Royal Bank Of Canada cut their price objective on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Barclays reduced their price objective on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Finally, Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Otis Worldwide presently has a consensus rating of “Hold” and an average target price of $97.58.

Otis Worldwide Price Performance

OTIS stock opened at $73.22 on Monday. The firm has a market cap of $28.09 billion, a PE ratio of 19.47, a P/E/G ratio of 2.39 and a beta of 0.91. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $101.42. The firm has a 50 day simple moving average of $74.51 and a 200 day simple moving average of $82.55.

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

Otis Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s payout ratio is presently 46.81%.

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.