Daiwa Securities Group Inc. Boosts Stake in Otis Worldwide Corporation $OTIS

Daiwa Securities Group Inc. raised its position in Otis Worldwide Corporation (NYSE:OTIS) by 25.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 90,670 shares of the company’s stock after purchasing an additional 18,301 shares during the period. Daiwa Securities Group Inc.’s holdings in Otis Worldwide were worth $7,920,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC increased its stake in shares of Otis Worldwide by 54.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,890,482 shares of the company’s stock worth $264,277,000 after purchasing an additional 1,013,876 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Otis Worldwide by 12,345.2% during the 4th quarter. SG Americas Securities LLC now owns 499,177 shares of the company’s stock worth $43,603,000 after purchasing an additional 495,166 shares during the last quarter. Pinnacle Financial Partners Inc. increased its stake in shares of Otis Worldwide by 19.6% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock worth $7,085,000 after purchasing an additional 12,721 shares during the last quarter. Caprock Group LLC purchased a new stake in shares of Otis Worldwide during the 3rd quarter worth approximately $982,000. Finally, Canoe Financial LP increased its stake in shares of Otis Worldwide by 15.6% during the 4th quarter. Canoe Financial LP now owns 2,787,870 shares of the company’s stock worth $243,520,000 after purchasing an additional 375,914 shares during the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

Shares of NYSE:OTIS opened at $70.41 on Monday. The firm has a fifty day moving average price of $75.70 and a two-hundred day moving average price of $83.70. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $101.42. The company has a market cap of $27.02 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 2.29 and a beta of 0.91.

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

Otis Worldwide Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s payout ratio is 46.81%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OTIS. Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Royal Bank Of Canada decreased their price target on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company 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. Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Finally, Morgan Stanley set a $88.00 price objective on shares of Otis Worldwide in a report on Friday, April 24th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $97.64.

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.