Otis Worldwide Corporation $OTIS Shares Acquired by Capital Research Global Investors

Key Points

• Capital Research Global Investors increased its stake in Otis Worldwide by 0.6% in the fourth quarter, bringing its holdings to 2.84 million shares worth about $248.4 million.
• Otis Worldwide reported quarterly EPS of $0.89 versus the $0.91 consensus and revenue of $3.57 billion versus $3.77 billion expected, though revenue still rose 6.4% year over year.
• The company raised its quarterly dividend to $0.44 per share from $0.42, implying an annualized yield of 2.5% and a payout ratio of 46.81%.

Capital Research Global Investors raised its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,843,926 shares of the company's stock after acquiring an additional 18,189 shares during the quarter. Capital Research Global Investors owned approximately 0.73% of Otis Worldwide worth $248,417,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Cookson Peirce & Co. Inc. boosted its position in shares of Otis Worldwide by 1.8% in the 3rd quarter. Cookson Peirce & Co. Inc. now owns 6,615 shares of the company's stock valued at $605,000 after purchasing an additional 115 shares during the period. Boyd Watterson Asset Management LLC OH boosted its position 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. boosted its position 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 valued at $414,000 after purchasing an additional 126 shares during the period. Composition Wealth LLC boosted its position 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 valued at $285,000 after purchasing an additional 131 shares during the period. Finally, Cary Street Partners Financial LLC boosted its position in shares of Otis Worldwide by 2.6% in the 3rd quarter. Cary Street Partners Financial LLC now owns 5,165 shares of the company's stock valued at $472,000 after purchasing an additional 132 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Stock Up 0.1%

OTIS opened at $70.41 on Monday. The business has a 50 day moving average price of $75.70 and a two-hundred day moving average price of $83.70. The company has a market cap of $27.02 billion, a PE ratio of 18.73, a P/E/G ratio of 2.29 and a beta of 0.91. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $101.42.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). The company had revenue of $3.57 billion for the quarter, compared to analysts' expectations 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 was up 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, sell-side analysts expect that Otis Worldwide Corporation will post 4.2 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.76 annualized dividend and a yield of 2.5%. This is a boost from Otis Worldwide's previous quarterly dividend of $0.42. Otis Worldwide's dividend payout ratio (DPR) is currently 46.81%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. UBS Group set a $105.00 target price on Otis Worldwide in a research report on Thursday, April 23rd. Barclays decreased their target price on Otis Worldwide from $80.00 to $77.00 and set an "underweight" rating for the company in a research report on Thursday, April 23rd. Morgan Stanley set a $88.00 target price on Otis Worldwide in a research report on Friday, April 24th. Royal Bank Of Canada decreased their target price on Otis Worldwide from $110.00 to $105.00 and set an "outperform" rating for the company in a research report on Thursday, April 23rd. Finally, Wolfe Research cut Otis Worldwide from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, April 8th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Otis Worldwide presently has an average rating of "Hold" and an average price target of $97.64.

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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