Shelter Ins Retirement Plan Makes New Investment in Otis Worldwide Corporation $OTIS

Key Points

• Shelter Ins Retirement Plan purchased 16,000 shares of Otis Worldwide worth approximately $1.15 billion, making OTIS its fifth-largest holding and representing about 1.1% of its portfolio. Institutional investors collectively own 88.03% of the company.
• Analyst sentiment is mixed: four analysts rate OTIS a Buy, five rate it a Hold, and one rates it a Sell. The consensus rating is Hold, with an average price target of $92.91.
• Otis reported quarterly revenue of $3.86 billion, up 7.3% year over year, while EPS of $1.01 matched estimates. The company also declared a quarterly dividend of $0.44 per share, implying a 2.5% yield.

Shelter Ins Retirement Plan purchased a new stake in Otis Worldwide Corporation (NYSE:OTIS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 16,000 shares of the company's stock, valued at approximately $1,145,600,000. Otis Worldwide makes up about 1.1% of Shelter Ins Retirement Plan's portfolio, making the stock its 5th largest holding.

A number of other large investors have also recently modified their holdings of OTIS. Camelot Portfolios LLC bought a new position in shares of Otis Worldwide in the fourth quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC bought a new stake in Otis Worldwide during the fourth quarter valued at approximately $27,000. MidFirst Bank bought a new stake in Otis Worldwide during the second quarter valued at approximately $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Otis Worldwide during the second quarter valued at approximately $28,000. Finally, Elevation Wealth Partners LLC grew its stake in Otis Worldwide by 1,910.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 402 shares of the company's stock worth $29,000 after buying an additional 382 shares in the last quarter. Institutional investors own 88.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Sanford C. Bernstein decreased their price target on shares of Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. Evercore reaffirmed an "outperform" rating and set a $95.00 price objective on shares of Otis Worldwide in a report on Thursday, July 23rd. Weiss Ratings reiterated a "hold (c-)" rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Morgan Stanley set a $75.00 target price on Otis Worldwide in a research note on Monday, August 10th. Finally, Royal Bank Of Canada set a $90.00 price target on Otis Worldwide in a research report on Tuesday, July 28th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $92.91.

Otis Worldwide Price Performance

Shares of OTIS opened at $71.77 on Friday. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The stock has a 50 day simple moving average of $72.62 and a two-hundred day simple moving average of $77.66. The firm has a market cap of $27.32 billion, a P/E ratio of 18.45, a P/E/G ratio of 2.54 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting analysts' consensus estimates of $1.01. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the business posted $1.05 EPS. The business's quarterly 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 anticipate that Otis Worldwide Corporation will post 4.02 earnings per share for the current year.

Otis Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, August 14th. Otis Worldwide's dividend payout ratio is presently 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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