Otis Worldwide Corporation $OTIS Shares Bought by ING Groep NV

ING Groep NV boosted its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 175.9% in the fourth quarter, HoldingsChannel reports. The firm owned 250,365 shares of the company’s stock after buying an additional 159,627 shares during the period. ING Groep NV’s holdings in Otis Worldwide were worth $21,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OTIS. Jones Financial Companies Lllp lifted its position in Otis Worldwide by 3.4% during the first quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock valued at $949,000 after purchasing an additional 304 shares during the period. Empowered Funds LLC lifted its position in Otis Worldwide by 10.5% during the first quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock valued at $928,000 after purchasing an additional 857 shares during the period. Acadian Asset Management LLC lifted its position in Otis Worldwide by 63.7% during the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock valued at $417,000 after purchasing an additional 1,574 shares during the period. Baird Financial Group Inc. lifted its position in Otis Worldwide by 7.1% during the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock valued at $3,193,000 after purchasing an additional 2,132 shares during the period. Finally, NewEdge Advisors LLC lifted its position in Otis Worldwide by 13.3% during the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock valued at $1,012,000 after purchasing an additional 1,196 shares during the period. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Stock Up 0.1%

OTIS stock opened at $70.41 on Monday. The company’s 50-day simple moving average is $75.70 and its 200-day simple moving average is $83.70. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $101.42. The firm has a market cap of $27.02 billion, a P/E ratio of 18.73, a PEG ratio of 2.29 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the company earned $0.92 earnings per share. The company’s revenue 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 4.2 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently declared 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. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, May 15th. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. Otis Worldwide’s payout ratio is currently 46.81%.

Analysts Set New Price Targets

OTIS has been the subject of a number of research reports. Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Weiss Ratings downgraded shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Barclays lowered their target price on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research note on Thursday, April 23rd. Royal Bank Of Canada lowered their target price on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Finally, Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a research note on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Otis Worldwide presently has a consensus rating of “Hold” and a consensus price target of $97.64.

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.