Nykredit A S Buys Shares of 87,658 Otis Worldwide Corporation $OTIS

Key Points

• Nykredit A S acquired 87,658 shares of Otis Worldwide in the second quarter, valued at approximately $6.28 million. Institutional investors collectively own 88.03% of the company.
• Analysts maintain a consensus “Hold” rating on OTIS, with an average price target of $92.91; individual targets range from $75 to $95.
• Otis reported quarterly revenue of $3.86 billion, up 7.3% year over year, and matched estimates with adjusted EPS of $1.01. The company also declared a quarterly dividend of $0.44 per share, representing a 2.5% annualized yield.

Nykredit A S 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 SEC. The firm acquired 87,658 shares of the company's stock, valued at approximately $6,276,000.

Other large investors have also bought and sold shares of the company. Pinnacle Financial Partners Inc. increased its position in Otis Worldwide by 19.6% in the third quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company's stock worth $7,085,000 after buying an additional 12,721 shares in the last quarter. Capital Research Global Investors raised its position in shares of Otis Worldwide by 0.6% during the fourth quarter. Capital Research Global Investors now owns 2,843,926 shares of the company's stock valued at $248,417,000 after buying an additional 18,189 shares during the last quarter. Lazard Freres Gestion S.A.S. increased its holdings in Otis Worldwide by 21.9% in the 4th quarter. Lazard Freres Gestion S.A.S. now owns 1,309,160 shares of the company's stock valued at $114,355,000 after acquiring an additional 235,316 shares during the last quarter. Banco Santander S.A. increased its holdings in shares of Otis Worldwide by 1,153.2% in the second quarter. Banco Santander S.A. now owns 106,257 shares of the company's stock worth $7,608,000 after purchasing an additional 97,778 shares during the last quarter. Finally, Alberta Investment Management Corp raised its holdings in shares of Otis Worldwide by 44.1% during the 4th quarter. Alberta Investment Management Corp now owns 170,600 shares of the company's stock worth $14,902,000 after acquiring an additional 52,200 shares in the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on OTIS shares. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Evercore restated an "outperform" rating and issued a $95.00 price target on shares of Otis Worldwide in a report on Thursday, July 23rd. Morgan Stanley set a $75.00 price objective on Otis Worldwide in a research note on Monday, August 10th. Royal Bank Of Canada set a $90.00 target price on shares of Otis Worldwide in a research report on Tuesday, July 28th. Finally, Sanford C. Bernstein cut their price target on Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $92.91.

Otis Worldwide Price Performance

NYSE OTIS opened at $71.19 on Monday. The stock's fifty day moving average price is $72.37 and its 200 day moving average price is $76.27. The company has a market cap of $27.10 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.51 and a beta of 0.88. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $3.76 billion. During the same quarter last year, the company posted $1.05 earnings per share. The firm's revenue was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Research analysts expect that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. Otis Worldwide's dividend payout ratio (DPR) is currently 45.24%.

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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