Dynamic Technology Lab Private Ltd Makes New Investment in Otis Worldwide Corporation $OTIS

Dynamic Technology Lab Private Ltd purchased a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 13,602 shares of the company’s stock, valued at approximately $1,188,000.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Sanford C. Bernstein assumed coverage on Otis Worldwide in a report on Tuesday. They issued an “outperform” rating and a $97.00 target price on the stock. Royal Bank Of Canada cut their target price on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Barclays cut their target price on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 23rd. Weiss Ratings cut Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Finally, Morgan Stanley set a $88.00 target price on Otis Worldwide in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $97.58.

Otis Worldwide Trading Up 0.9%

Shares of NYSE:OTIS opened at $70.77 on Friday. The stock’s fifty day simple moving average is $75.04 and its two-hundred day simple moving average is $83.13. Otis Worldwide Corporation has a 1-year low of $69.16 and a 1-year high of $101.42. The stock has a market cap of $27.16 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 2.29 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate 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 quarter last year, the business posted $0.92 earnings per share. Otis Worldwide’s revenue was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, sell-side analysts forecast that Otis Worldwide Corporation will post 4.2 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 15th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s dividend payout ratio (DPR) is presently 46.81%.

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.