Aberdeen Group plc Boosts Stock Position in Otis Worldwide Corporation $OTIS

Key Points

• Aberdeen Group increased its Otis Worldwide stake by 7% in the second quarter, bringing its holdings to 361,495 shares valued at approximately $25.9 million. Institutional investors and hedge funds collectively own 88.03% of the company.
• Analyst sentiment is mixed, with four Buy, five Hold and one Sell ratings; the consensus rating is Hold with an average price target of $92.91, compared with the stock’s recent price of $72.61.
• Otis matched quarterly EPS expectations at $1.01 and exceeded revenue estimates with $3.86 billion, while revenue grew 7.3% year over year. The company also announced a $0.44 quarterly dividend, representing a 2.4% yield, although analysts have recently reduced earnings forecasts.

Aberdeen Group plc raised its stake in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 7.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,495 shares of the company's stock after purchasing an additional 23,615 shares during the period. Aberdeen Group plc owned 0.09% of Otis Worldwide worth $25,883,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in OTIS. Norges Bank acquired a new position in Otis Worldwide during the fourth quarter worth about $770,125,000. Millennium Management LLC grew its holdings in shares of Otis Worldwide by 1,047.0% during the 4th quarter. Millennium Management LLC now owns 2,387,466 shares of the company's stock worth $208,545,000 after purchasing an additional 2,179,314 shares during the period. Van ECK Associates Corp increased its position in shares of Otis Worldwide by 97.9% during the fourth quarter. Van ECK Associates Corp now owns 4,002,589 shares of the company's stock valued at $349,626,000 after acquiring an additional 1,979,819 shares during the last quarter. AQR Capital Management LLC lifted its stake in Otis Worldwide by 125.7% during the third quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company's stock worth $236,891,000 after purchasing an additional 1,445,904 shares in the last quarter. Finally, Scharf Investments LLC purchased a new position in Otis Worldwide during the 3rd quarter valued at about $73,200,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. UBS Group set a $105.00 target price on Otis Worldwide in a report on Thursday, April 23rd. Sanford C. Bernstein decreased their target price on Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating for the company in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Otis Worldwide in a report on Wednesday. Morgan Stanley set a $75.00 price objective on shares of Otis Worldwide in a research report on Monday. Finally, Evercore reissued an "outperform" rating and set a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $92.91.

Otis Worldwide Stock Performance

OTIS stock opened at $72.61 on Friday. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The stock's 50 day moving average price is $72.54 and its 200 day moving average price is $78.22. The firm has a market cap of $27.64 billion, a P/E ratio of 18.67, a PEG ratio of 2.57 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.01. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. Otis Worldwide's revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, research analysts predict that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, August 14th. Otis Worldwide's payout ratio is currently 45.24%.

Otis Worldwide News Roundup

Here are the key news stories impacting Otis Worldwide this week:

• Positive Sentiment: Despite the cuts, Zacks Research still projects earnings growth from approximately $4.04 per share in fiscal 2026 to $4.41 in fiscal 2027 and $4.89 in fiscal 2028. The fiscal 2026 estimate is also slightly above the broader consensus of $4.03 per share. Otis Worldwide analyst estimates
• Neutral Sentiment: An MSN page provides updated analyst estimates and ratings for Otis Worldwide, but the supplied information does not specify individual analyst recommendations or price targets. Otis Worldwide stock: Analyst estimates and ratings
• Negative Sentiment: Zacks lowered its fiscal 2026 EPS forecast to $4.04 from $4.22, fiscal 2027 to $4.41 from $4.67, and fiscal 2028 to $4.89 from $5.23. These reductions point to weaker expected profitability than previously forecast.
• Negative Sentiment: Quarterly estimates were also reduced: Q3 2026 EPS fell to $1.01 from $1.14, Q4 2026 to $1.13 from $1.18, and Q1 2027 to $1.02 from $1.05. Additional cuts affected Q2 and Q3 2027, Q4 2027, and the first two quarters of 2028.

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.

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