Otis Worldwide Corporation $OTIS Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC grew its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 23.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 870,045 shares of the company’s stock after purchasing an additional 164,978 shares during the period. Hsbc Holdings PLC owned approximately 0.22% of Otis Worldwide worth $76,043,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OTIS. Jones Financial Companies Lllp lifted its holdings in Otis Worldwide by 3.4% in the 1st quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock worth $949,000 after buying an additional 304 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Otis Worldwide by 10.5% during the first quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock valued at $928,000 after acquiring an additional 857 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Otis Worldwide by 63.7% during the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock valued at $417,000 after acquiring an additional 1,574 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Otis Worldwide by 7.1% during the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock valued at $3,193,000 after acquiring an additional 2,132 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Otis Worldwide by 13.3% during the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock worth $1,012,000 after acquiring an additional 1,196 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OTIS has been the subject of a number of analyst reports. Royal Bank Of Canada reduced 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. Barclays dropped their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 23rd. Weiss Ratings lowered Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Wells Fargo & Company reduced their target price on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Finally, Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $97.58.

Otis Worldwide Stock Performance

Shares of OTIS stock opened at $73.08 on Friday. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $101.42. The company’s 50-day simple moving average is $72.90 and its 200-day simple moving average is $81.56. The stock has a market capitalization of $28.04 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 2.60 and a beta of 0.90.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share 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 prior year, the firm earned $0.92 earnings per share. The firm’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. As a group, research analysts forecast that Otis Worldwide Corporation will post 4.19 EPS for the current year.

Otis Worldwide Increases Dividend

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