Man Group plc Has $111.04 Million Holdings in Otis Worldwide Corporation $OTIS

Man Group plc boosted its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 80.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,271,232 shares of the company’s stock after purchasing an additional 565,908 shares during the quarter. Man Group plc’s holdings in Otis Worldwide were worth $111,042,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of OTIS. Norges Bank acquired a new stake in Otis Worldwide during the 4th quarter worth about $770,125,000. Van ECK Associates Corp raised its holdings in Otis Worldwide by 97.9% during the 4th quarter. Van ECK Associates Corp now owns 4,002,589 shares of the company’s stock worth $349,626,000 after buying an additional 1,979,819 shares during the period. AQR Capital Management LLC raised its holdings in Otis Worldwide by 125.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company’s stock worth $236,891,000 after buying an additional 1,445,904 shares during the period. Squarepoint Ops LLC raised its holdings in Otis Worldwide by 199.6% during the 3rd quarter. Squarepoint Ops LLC now owns 2,030,095 shares of the company’s stock worth $185,612,000 after buying an additional 1,352,530 shares during the period. Finally, Independent Franchise Partners LLP acquired a new stake in Otis Worldwide during the 3rd quarter worth about $100,435,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on OTIS shares. Wolfe Research downgraded Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Barclays dropped 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. Sanford C. Bernstein started coverage on Otis Worldwide in a report on Tuesday, June 9th. They issued an “outperform” rating and a $97.00 target price on the stock. Weiss Ratings downgraded Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Finally, Royal Bank Of Canada dropped 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. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Otis Worldwide has an average rating of “Hold” and an average price target of $97.58.

Otis Worldwide Price Performance

Shares of OTIS opened at $72.75 on Thursday. The company has a market capitalization of $27.91 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 2.40 and a beta of 0.91. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $101.42. The business’s 50-day moving average is $74.72 and its 200-day moving average is $82.77.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the company posted $0.92 EPS. The company’s quarterly 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. Equities research analysts expect that Otis Worldwide Corporation will post 4.2 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 15th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was 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 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is currently 46.81%.

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.