Railway Pension Investments Ltd decreased its position in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 394,800 shares of the company's stock after selling 15,200 shares during the quarter. Railway Pension Investments Ltd owned about 0.10% of Otis Worldwide worth $28,268,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in Otis Worldwide by 5.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company's stock valued at $202,000 after buying an additional 123 shares during the period. Boyd Watterson Asset Management LLC OH boosted its holdings in shares of 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 acquiring an additional 124 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Otis Worldwide by 2.7% in the fourth quarter. Moors & Cabot Inc. now owns 4,741 shares of the company's stock valued at $414,000 after acquiring an additional 126 shares in the last quarter. Composition Wealth LLC increased its stake in shares of Otis Worldwide by 4.2% during the fourth quarter. Composition Wealth LLC now owns 3,258 shares of the company's stock valued at $285,000 after acquiring an additional 131 shares during the period. Finally, Stephens Inc. AR lifted its position in Otis Worldwide by 2.6% in the fourth quarter. Stephens Inc. AR now owns 5,222 shares of the company's stock worth $456,000 after purchasing an additional 132 shares during the period. Institutional investors own 88.03% of the company's stock.
Otis Worldwide Trading Down 0.6%
NYSE OTIS opened at $71.34 on Tuesday. Otis Worldwide Corporation has a 1-year low of $69.16 and a 1-year high of $94.57. The company has a market capitalization of $27.16 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 2.53 and a beta of 0.89. The firm's fifty day simple moving average is $72.52 and its 200-day simple moving average is $76.81.
Otis Worldwide (NYSE:OTIS - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting analysts' consensus estimates of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The firm'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. As a group, analysts predict that Otis Worldwide Corporation will post 4.03 EPS for the current year.
Otis Worldwide Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, August 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. Otis Worldwide's payout ratio is presently 45.24%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on OTIS shares. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a research note on Tuesday, July 28th. Evercore reiterated an "outperform" rating and issued a $95.00 price target on shares of Otis Worldwide in a research report on Thursday, July 23rd. Sanford C. Bernstein cut their price target on shares of Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating for the company in a report on Thursday, July 23rd. Morgan Stanley set a $75.00 price objective on shares of Otis Worldwide in a research note on Monday, August 10th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Otis Worldwide presently has an average rating of "Hold" and an average target price of $92.91.
Check Out Our Latest Stock Analysis on OTIS
Otis Worldwide Company Profile
(
Free Report)
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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