Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 38,400 Shares of Otis Worldwide Corporation $OTIS

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 47.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,224 shares of the company’s stock after purchasing an additional 38,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Otis Worldwide were worth $9,190,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stance Capital LLC bought a new position in shares of Otis Worldwide in the third quarter worth about $27,000. Camelot Portfolios LLC purchased a new position in Otis Worldwide in the 4th quarter worth about $26,000. Garton & Associates Financial Advisors LLC bought a new stake in Otis Worldwide during the 4th quarter valued at about $27,000. Elevation Wealth Partners LLC bought a new stake in Otis Worldwide during the 4th quarter valued at about $32,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Otis Worldwide during the 4th quarter valued at about $33,000. 88.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on OTIS. Royal Bank Of Canada dropped their target price 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. UBS Group set a $105.00 price target on shares of Otis Worldwide in a research note on Thursday, April 23rd. Morgan Stanley set a $88.00 price target on Otis Worldwide in a report on Friday, April 24th. Evercore initiated coverage on Otis Worldwide in a report on Monday, April 13th. They issued an “outperform” rating and a $100.00 price target for the company. Finally, Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $97.58.

Otis Worldwide Price Performance

OTIS stock opened at $73.08 on Friday. The business has a 50-day moving average price of $72.90 and a 200 day moving average price of $81.56. The company has a market capitalization of $28.04 billion, a P/E ratio of 19.44, a PEG ratio of 2.60 and a beta of 0.90. Otis Worldwide Corporation has a 1-year low of $69.16 and a 1-year high of $101.42.

Otis Worldwide (NYSE:OTIS) last issued its 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 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 firm’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, analysts anticipate that Otis Worldwide Corporation will post 4.19 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently disclosed 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 a boost 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 was Friday, May 15th. Otis Worldwide’s 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.