Aware Super Pty Ltd as trustee of Aware Super Invests $1.26 Million in Otis Worldwide Corporation $OTIS

Key Points

• Aware Super disclosed a new first-quarter stake in Otis Worldwide, buying 16,356 shares valued at about $1.26 million.
• Institutional ownership in Otis remains high, with hedge funds and other investors holding 88.03% of the stock; several large funds also recently increased or initiated positions.
• Otis reported mixed recent results, missing EPS and revenue estimates for the quarter, but it also raised its quarterly dividend to $0.44 per share, lifting the annualized yield to about 2.4%.

Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Otis Worldwide Corporation (NYSE:OTIS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,356 shares of the company's stock, valued at approximately $1,261,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in Otis Worldwide in the fourth quarter worth approximately $770,125,000. Millennium Management LLC lifted its position in Otis Worldwide by 1,047.0% in the fourth quarter. Millennium Management LLC now owns 2,387,466 shares of the company's stock valued at $208,545,000 after buying an additional 2,179,314 shares during the last quarter. Van ECK Associates Corp boosted its stake in Otis Worldwide by 97.9% during the fourth quarter. Van ECK Associates Corp now owns 4,002,589 shares of the company's stock worth $349,626,000 after buying an additional 1,979,819 shares during the period. AQR Capital Management LLC boosted 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 buying an additional 1,445,904 shares during the period. Finally, Scharf Investments LLC purchased a new position in Otis Worldwide during the third quarter worth about $73,200,000. Institutional investors and hedge funds own 88.03% of the company's stock.

Otis Worldwide Stock Performance

OTIS opened at $73.50 on Friday. The business's 50-day simple moving average is $72.09 and its 200-day simple moving average is $80.53. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $101.14. The stock has a market capitalization of $28.20 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 2.69 and a beta of 0.90.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.02). The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The firm's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last 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, equities research analysts forecast that Otis Worldwide Corporation will post 4.16 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 15th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Otis Worldwide's previous quarterly dividend of $0.42. The ex-dividend date was Friday, May 15th. Otis Worldwide's payout ratio is 46.81%.

Wall Street Analyst Weigh In

OTIS has been the topic of a number of research analyst reports. Evercore began coverage on shares of Otis Worldwide in a research note on Monday, April 13th. They issued an "outperform" rating and a $100.00 price target on the stock. UBS Group set a $105.00 target price on shares of Otis Worldwide in a report on Thursday, April 23rd. Wolfe Research lowered Otis Worldwide from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, April 8th. Weiss Ratings cut Otis Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 15th. Finally, Royal Bank Of Canada decreased their price target on Otis Worldwide from $110.00 to $105.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $96.55.

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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