Andra AP fonden Makes New Investment in Otis Worldwide Corporation $OTIS

Key Points

• Andra AP-fonden initiated a position in Otis Worldwide by purchasing 51,600 shares worth approximately $3.7 million. Institutional investors collectively own 88.03% of the company.
• Otis reported quarterly revenue of $3.86 billion, up 7.3% year over year, while earnings of $1.01 per share matched analyst expectations. The company reaffirmed fiscal 2026 EPS guidance of $4.01–$4.05.
• Shares opened at $68.36, near their 52-week low, while analysts maintained an overall “Hold” rating with an average price target of $92.91. Otis also pays a quarterly dividend of $0.44 per share, yielding about 2.6% annually.

Andra AP fonden purchased a new position in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 51,600 shares of the company's stock, valued at approximately $3,695,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC acquired a new position in shares of Otis Worldwide in the second quarter worth $27,000. Reflection Asset Management purchased a new stake in Otis Worldwide during the 4th quarter worth about $34,000. MidFirst Bank purchased a new stake in Otis Worldwide during the 4th quarter worth about $35,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Otis Worldwide in the 2nd quarter valued at about $28,000. Finally, Elevation Wealth Partners LLC raised its position in Otis Worldwide by 1,910.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 402 shares of the company's stock valued at $29,000 after purchasing an additional 382 shares in the last quarter. Hedge funds and other institutional investors own 88.03% of the company's stock.

Otis Worldwide Stock Up 0.4%

Shares of Otis Worldwide stock opened at $68.36 on Thursday. Otis Worldwide Corporation has a 52 week low of $66.57 and a 52 week high of $94.57. The firm's 50 day moving average is $71.43 and its two-hundred day moving average is $74.19. The firm has a market capitalization of $26.02 billion, a P/E ratio of 17.57, a P/E/G ratio of 2.40 and a beta of 0.88.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm posted $1.05 earnings per share. Otis Worldwide's revenue for the quarter was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, research analysts expect that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 14th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, August 14th. Otis Worldwide's dividend payout ratio (DPR) is currently 45.24%.

Analyst Ratings Changes

OTIS has been the subject of a number of analyst reports. Morgan Stanley set a $75.00 price objective on Otis Worldwide in a research report on Monday, August 10th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a research note on Tuesday, July 28th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Otis Worldwide in a report on Monday. Finally, Evercore reaffirmed an "outperform" rating and set a $95.00 price objective on shares of Otis Worldwide in a research report on Thursday, July 23rd. Four investment 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.com, Otis Worldwide presently has an average rating of "Hold" and an average target price of $92.91.

Otis Worldwide Company Profile

Otis Worldwide Corporation NYSE: OTIS designs, manufactures, installs and services elevators, escalators and moving walkways. Its equipment is used in residential, commercial, institutional, transportation and industrial buildings, supporting the movement of people in high-rise and other densely occupied environments.

The company's offerings include passenger and freight elevators, escalators, moving walkways, destination-dispatch systems and related technologies. Otis also provides maintenance, repair, modernization and replacement services for its own equipment and products made by other manufacturers.

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