Deutsche Bank AG Buys New Shares in Otis Worldwide Corporation $OTIS

Key Points

• Deutsche Bank acquired 1.72 million Otis Worldwide shares worth approximately $123.1 million in the second quarter, giving it a 0.45% stake. Institutional investors collectively own 88.03% of the company.
• Analysts have a mixed view of Otis, with four Buy, five Hold and one Sell rating. The stock has an average rating of “Hold” and an average price target of $92.91, compared with a recent price of $72.15.
• Otis reported quarterly earnings of $1.01 per share and revenue of $3.86 billion, exceeding revenue expectations while revenue grew 7.3% year over year. The company also declared a quarterly dividend of $0.44 per share, representing a 2.4% yield.

Deutsche Bank AG acquired a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,718,901 shares of the company's stock, valued at approximately $123,073,000. Deutsche Bank AG owned about 0.45% of Otis Worldwide as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in Otis Worldwide by 5.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company's stock worth $202,000 after purchasing an additional 123 shares during the period. Boyd Watterson Asset Management LLC OH grew its stake in shares of Otis Worldwide by 4.0% in the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company's stock valued at $281,000 after purchasing an additional 124 shares during the period. Moors & Cabot Inc. raised its holdings in shares of Otis Worldwide by 2.7% in the 4th quarter. Moors & Cabot Inc. now owns 4,741 shares of the company's stock worth $414,000 after buying an additional 126 shares in the last quarter. Composition Wealth LLC raised its holdings in shares of Otis Worldwide by 4.2% in the 4th quarter. Composition Wealth LLC now owns 3,258 shares of the company's stock worth $285,000 after buying an additional 131 shares in the last quarter. Finally, Stephens Inc. AR lifted its position in shares of Otis Worldwide by 2.6% during the 4th quarter. Stephens Inc. AR now owns 5,222 shares of the company's stock worth $456,000 after buying an additional 132 shares during the period. Institutional investors own 88.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OTIS shares. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a report on Tuesday, July 28th. Evercore reaffirmed an "outperform" rating and issued a $95.00 target price on shares of Otis Worldwide in a report on Thursday, July 23rd. Weiss Ratings reiterated a "hold (c-)" rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Morgan Stanley set a $75.00 price target on shares of Otis Worldwide in a report on Monday, August 10th. Finally, UBS Group set a $105.00 price target on shares of Otis Worldwide in a research report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Otis Worldwide has an average rating of "Hold" and an average price target of $92.91.

Otis Worldwide Stock Performance

OTIS opened at $72.15 on Thursday. The company has a fifty day moving average price of $72.59 and a two-hundred day moving average price of $77.76. The firm has a market capitalization of $27.46 billion, a PE ratio of 18.55, a P/E/G ratio of 2.48 and a beta of 0.89. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $94.57.

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 for the quarter, hitting the consensus estimate of $1.01. The business 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 quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Equities analysts forecast that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Announces Dividend

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

About Otis Worldwide

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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