Rakuten Investment Management Inc. Makes New Investment in Otis Worldwide Corporation $OTIS

Rakuten Investment Management Inc. acquired a new stake in Otis Worldwide Corporation (NYSE:OTIS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 63,787 shares of the company’s stock, valued at approximately $4,651,000.

A number of other hedge funds also recently made changes to their positions in OTIS. Pinnacle Financial Partners Inc. increased its position in shares of Otis Worldwide by 19.6% during the third quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock worth $7,085,000 after acquiring an additional 12,721 shares during the last quarter. Capital Research Global Investors boosted its holdings in Otis Worldwide by 0.6% in the fourth quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock valued at $248,417,000 after purchasing an additional 18,189 shares during the last quarter. Banco Santander S.A. boosted its holdings in Otis Worldwide by 1,153.2% in the second quarter. Banco Santander S.A. now owns 106,257 shares of the company’s stock valued at $7,608,000 after purchasing an additional 97,778 shares during the last quarter. Lazard Freres Gestion S.A.S. grew its stake in Otis Worldwide by 21.9% during the 4th quarter. Lazard Freres Gestion S.A.S. now owns 1,309,160 shares of the company’s stock valued at $114,355,000 after purchasing an additional 235,316 shares in the last quarter. Finally, Danske Bank A S grew its stake in Otis Worldwide by 13.3% during the 4th quarter. Danske Bank A S now owns 225,994 shares of the company’s stock valued at $19,741,000 after purchasing an additional 26,500 shares in the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Evercore reissued an “outperform” rating and set a $95.00 price target on shares of Otis Worldwide in a research report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a research note on Tuesday, July 28th. Morgan Stanley set a $75.00 price target on shares of Otis Worldwide in a report on Monday, August 10th. Finally, Sanford C. Bernstein reduced their price objective on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $92.91.

Otis Worldwide Stock Up 0.0%

Shares of Otis Worldwide stock opened at $71.77 on Monday. The firm has a market cap of $27.32 billion, a P/E ratio of 18.45, a P/E/G ratio of 2.53 and a beta of 0.89. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $94.57. The business has a 50-day moving average price of $72.54 and a 200 day moving average price of $76.94.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share (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 firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the firm posted $1.05 earnings per share. Otis Worldwide’s revenue for the quarter was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, equities research analysts anticipate that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The company 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 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s dividend payout ratio is currently 45.24%.

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.