PFA Pension Forsikringsaktieselskab Makes New Investment in Otis Worldwide Corporation $OTIS

PFA Pension Forsikringsaktieselskab bought a new position in Otis Worldwide Corporation (NYSE:OTIS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 557,404 shares of the company's stock, valued at approximately $49,057,000. PFA Pension Forsikringsaktieselskab owned 0.14% of Otis Worldwide as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Horizon Investments LLC increased its stake in shares of Otis Worldwide by 9.7% during the fourth quarter. Horizon Investments LLC now owns 26,993 shares of the company's stock valued at $2,358,000 after buying an additional 2,391 shares during the period. Robertson Stephens Wealth Management LLC purchased a new position in shares of Otis Worldwide during the fourth quarter valued at $360,000. Danske Bank A S increased its stake in shares of Otis Worldwide by 13.3% during the fourth quarter. Danske Bank A S now owns 225,994 shares of the company's stock valued at $19,741,000 after buying an additional 26,500 shares during the period. Laurel Wealth Advisors LLC purchased a new position in shares of Otis Worldwide during the fourth quarter valued at $230,000. Finally, DMKC Advisory Services LLC increased its stake in shares of Otis Worldwide by 19.0% during the fourth quarter. DMKC Advisory Services LLC now owns 27,949 shares of the company's stock valued at $2,441,000 after buying an additional 4,470 shares during the period. Hedge funds and other institutional investors own 88.03% of the company's stock.

Otis Worldwide Price Performance

Shares of OTIS stock opened at $77.11 on Friday. Otis Worldwide Corporation has a 1-year low of $75.27 and a 1-year high of $101.42. The stock's 50-day moving average is $82.33 and its 200 day moving average is $86.91. The company has a market cap of $29.59 billion, a P/E ratio of 20.51, a PEG ratio of 2.53 and a beta of 0.95.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.02). Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the previous year, the business earned $0.92 EPS. Otis Worldwide's revenue for the quarter was up 6.4% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, analysts anticipate that Otis Worldwide Corporation will post 4.18 EPS for the current year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 15th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, May 15th. This is an increase from Otis Worldwide's previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 2.3%. Otis Worldwide's dividend payout ratio is 44.68%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on OTIS shares. Royal Bank Of Canada cut their price target on Otis Worldwide from $110.00 to $105.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Wolfe Research lowered Otis Worldwide from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, April 8th. New Street Research set a $98.00 price target on Otis Worldwide in a research note on Friday, January 30th. JPMorgan Chase & Co. lowered Otis Worldwide from an "overweight" rating to a "neutral" rating and set a $98.00 price target on the stock. in a research note on Friday, January 30th. Finally, Wall Street Zen lowered Otis Worldwide from a "buy" rating to a "hold" rating in a research note on Saturday, January 10th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $97.64.

Insider Buying and Selling

In related news, CEO Judith Fran Marks sold 56,107 shares of the firm's stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $90.89, for a total transaction of $5,099,565.23. Following the sale, the chief executive officer owned 231,072 shares of the company's stock, valued at $21,002,134.08. This trade represents a 19.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Montlivault Stephane De sold 47,944 shares of the firm's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $92.25, for a total value of $4,422,834.00. Following the sale, the insider directly owned 29,176 shares in the company, valued at approximately $2,691,486. The trade was a 62.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 158,013 shares of company stock worth $14,337,635 in the last three months. 0.23% of the stock is owned by company insiders.

About Otis Worldwide

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.

Want to see what other hedge funds are holding OTIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Otis Worldwide Corporation (NYSE:OTIS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.