Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 38,400 Shares of Otis Worldwide Corporation $OTIS

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Otis Worldwide Corporation (NYSE:OTIS) by 47.5% during the first quarter, HoldingsChannel reports. The fund owned 119,224 shares of the company’s stock after acquiring an additional 38,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Otis Worldwide were worth $9,190,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in OTIS. Jones Financial Companies Lllp lifted its stake 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 purchasing an additional 304 shares during the last quarter. Empowered Funds LLC boosted its position in Otis Worldwide by 10.5% during the first quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock valued at $928,000 after purchasing an additional 857 shares in the last quarter. Acadian Asset Management LLC grew its stake in 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 purchasing an additional 1,574 shares during the last quarter. Baird Financial Group Inc. grew its stake in Otis Worldwide by 7.1% in the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock valued at $3,193,000 after purchasing an additional 2,132 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Otis Worldwide by 13.3% in the second 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 owned by institutional investors.

Otis Worldwide Trading Down 0.1%

Shares of Otis Worldwide stock opened at $73.08 on Friday. The firm’s 50 day simple moving average is $72.90 and its two-hundred day simple moving average is $81.56. The firm has a market capitalization of $28.04 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 2.60 and a beta of 0.90. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $101.42.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.77 billion. Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, sell-side analysts predict that Otis Worldwide Corporation will post 4.19 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were paid a $0.44 dividend. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is 46.81%.

Wall Street Analyst Weigh In

Several analysts have commented on OTIS shares. Sanford C. Bernstein began coverage on shares of Otis Worldwide in a research report on Tuesday, June 9th. They set an “outperform” rating and a $97.00 price target for the company. Barclays cut their price objective on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 23rd. Royal Bank Of Canada reduced their price objective on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. UBS Group set a $105.00 target price on shares of Otis Worldwide in a research report on Thursday, April 23rd. Finally, Wells Fargo & Company lowered their target price on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and an average price target of $97.58.

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.