Otis Worldwide Corporation $OTIS Shares Bought by KBC Group NV

Key Points

• KBC Group NV increased its stake in Otis Worldwide by 64.1% in the first quarter, buying 176,913 additional shares and bringing its total to 453,059 shares valued at about $34.9 million.
• Institutional ownership remains very high, with 88.03% of Otis Worldwide stock held by hedge funds and other institutional investors.
• Analysts are mixed on OTIS: the stock currently carries a Hold consensus rating, with an average price target of $96.55, while the shares recently traded around $73.55 after the company missed first-quarter EPS and revenue estimates.

KBC Group NV boosted its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 64.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 453,059 shares of the company's stock after buying an additional 176,913 shares during the quarter. KBC Group NV owned 0.12% of Otis Worldwide worth $34,922,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in OTIS. Smartleaf Asset Management LLC raised its holdings in shares of 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 last quarter. Boyd Watterson Asset Management LLC OH boosted its holdings in Otis Worldwide by 4.0% in the fourth 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 last quarter. Moors & Cabot Inc. grew its position in Otis Worldwide by 2.7% during the 4th quarter. Moors & Cabot Inc. now owns 4,741 shares of the company's stock worth $414,000 after purchasing an additional 126 shares during the period. Composition Wealth LLC grew its position in Otis Worldwide by 4.2% during the 4th quarter. Composition Wealth LLC now owns 3,258 shares of the company's stock worth $285,000 after purchasing an additional 131 shares during the period. Finally, Stephens Inc. AR raised its stake 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 valued at $456,000 after buying an additional 132 shares during the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on OTIS shares. Sanford C. Bernstein assumed coverage on Otis Worldwide in a research note on Tuesday, June 9th. They issued an "outperform" rating and a $97.00 target price on the stock. Barclays decreased their price target on Otis Worldwide from $80.00 to $77.00 and set an "underweight" rating for the company in a report on Thursday, April 23rd. Wolfe Research lowered shares of Otis Worldwide from an "outperform" rating to a "peer perform" rating in a report on Wednesday, April 8th. Weiss Ratings cut shares of Otis Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 15th. Finally, Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Otis Worldwide currently has a consensus rating of "Hold" and an average target price of $96.55.

Otis Worldwide Trading Up 0.1%

Shares of Otis Worldwide stock opened at $73.55 on Tuesday. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $101.14. The firm has a market capitalization of $28.22 billion, a PE ratio of 19.56, a P/E/G ratio of 2.64 and a beta of 0.90. The firm's 50-day moving average price is $72.08 and its 200 day moving average price is $80.38.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.02). The firm had revenue of $3.57 billion for 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%. Otis Worldwide's revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, sell-side analysts predict that Otis Worldwide Corporation will post 4.16 EPS for the current fiscal year.

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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