EFG International AG Takes Position in Otis Worldwide Corporation $OTIS

EFG International AG bought a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,391 shares of the company’s stock, valued at approximately $672,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Otis Worldwide during the 2nd quarter valued at about $2,264,017,000. Norges Bank purchased a new stake in shares of Otis Worldwide in the fourth quarter worth approximately $770,125,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Otis Worldwide in the second quarter worth approximately $423,739,000. Canada Pension Plan Investment Board bought a new position in shares of Otis Worldwide in the second quarter valued at approximately $223,003,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Otis Worldwide in the second quarter valued at approximately $196,298,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Down 1.2%

Shares of NYSE OTIS opened at $71.47 on Friday. The company has a market capitalization of $27.21 billion, a PE ratio of 18.37, a PEG ratio of 2.55 and a beta of 0.89. The stock’s 50 day moving average price is $72.57 and its 200-day moving average price is $77.06. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $94.57.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.Otis Worldwide’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the business posted $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, research analysts expect that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. Otis Worldwide’s dividend payout ratio (DPR) is currently 45.24%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Evercore reaffirmed an “outperform” rating and set a $95.00 target price on shares of Otis Worldwide in a research report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a research note on Tuesday, July 28th. Morgan Stanley set a $75.00 price objective on shares of Otis Worldwide in a report on Monday, August 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Finally, Sanford C. Bernstein lowered their target price 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. 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $92.91.

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.