Shelter Ins Retirement Plan Acquires Shares of 16,000 Otis Worldwide Corporation $OTIS

Shelter Ins Retirement Plan acquired a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) in the second quarter, HoldingsChannel.com reports. The fund acquired 16,000 shares of the company’s stock, valued at approximately $1,145,600,000. Otis Worldwide accounts for 1.1% of Shelter Ins Retirement Plan’s holdings, making the stock its 5th biggest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in Otis Worldwide by 3.4% during the 1st quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock valued at $949,000 after buying an additional 304 shares during the period. Empowered Funds LLC increased its position in shares of Otis Worldwide by 10.5% in the first quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock valued at $928,000 after acquiring an additional 857 shares during the period. Acadian Asset Management LLC increased its position in shares of Otis Worldwide by 63.7% in the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock valued at $417,000 after acquiring an additional 1,574 shares during the period. Baird Financial Group Inc. raised its stake in shares of 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 acquiring an additional 2,132 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of 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 acquiring an additional 1,196 shares during the last quarter. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Trading Down 0.3%

OTIS opened at $71.77 on Friday. The stock has a fifty day simple moving average of $72.62 and a two-hundred day simple moving average of $77.66. The company has a market cap of $27.32 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 2.54 and a beta of 0.89. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $94.57.

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

Otis Worldwide Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OTIS. Morgan Stanley set a $75.00 target price on Otis Worldwide in a research note on Monday, August 10th. Barclays lowered their price target on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Thursday, April 23rd. Sanford C. Bernstein dropped their price objective on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Evercore reiterated an “outperform” rating and issued a $95.00 price objective on shares of Otis Worldwide in a research report on Thursday, July 23rd. Finally, UBS Group set a $105.00 price objective on shares of Otis Worldwide in a research report on Thursday, April 23rd. Four equities 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $92.91.

About Otis Worldwide

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.