OMERS ADMINISTRATION Corp Grows Stake in Otis Worldwide Corporation $OTIS

Key Points

• OMERS Administration Corp increased its Otis Worldwide stake by 160.9% in the first quarter, holding 38,201 shares valued at approximately $2.95 million. Institutional investors collectively own 88.03% of the company.
• Analyst sentiment remains cautious, with four Buy, five Hold and one Sell rating. The average price target is $94.09, though Wells Fargo and Barclays recently lowered their targets to $80 and $77, respectively.
• Otis reported quarterly earnings of $1.01 per share and revenue of $3.86 billion, up 7.3% year over year. The company also declared a quarterly dividend of $0.44 per share, representing a 2.4% annualized yield.

OMERS ADMINISTRATION Corp grew its stake in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 160.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,201 shares of the company's stock after purchasing an additional 23,557 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Otis Worldwide were worth $2,945,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of OTIS. Camelot Portfolios LLC purchased a new stake in shares of Otis Worldwide during the 4th quarter valued at about $26,000. Garton & Associates Financial Advisors LLC purchased a new position in Otis Worldwide in the 4th quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Otis Worldwide in the fourth quarter valued at approximately $33,000. Reflection Asset Management acquired a new stake in Otis Worldwide in the fourth quarter valued at approximately $34,000. Finally, MidFirst Bank acquired a new stake in Otis Worldwide in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 88.03% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on OTIS shares. Wells Fargo & Company reduced their target price on shares of Otis Worldwide from $92.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 1st. Barclays lowered their price target on shares of Otis Worldwide from $80.00 to $77.00 and set an "underweight" rating for the company in a report on Thursday, April 23rd. Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a research note on Friday, April 24th. Wolfe Research lowered shares of Otis Worldwide from an "outperform" rating to a "peer perform" rating in a report on Wednesday, April 8th. Finally, Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a research report on Tuesday. Four research 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $94.09.

Otis Worldwide Stock Up 0.7%

Shares of OTIS opened at $73.70 on Wednesday. The business's 50 day moving average is $72.05 and its two-hundred day moving average is $79.68. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $94.57. The firm has a market cap of $28.06 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 2.59 and a beta of 0.90.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The company had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $3.76 billion. During the same period in the prior year, the business posted $1.05 EPS. The business's revenue was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities analysts expect that Otis Worldwide Corporation will post 4 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, August 14th. Otis Worldwide's dividend payout ratio is 45.24%.

Otis Worldwide Company 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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