Otis Worldwide Corporation $OTIS Shares Purchased by Strs Ohio

Strs Ohio raised its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 249.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 33,047 shares of the company’s stock after purchasing an additional 23,598 shares during the period. Strs Ohio’s holdings in Otis Worldwide were worth $2,887,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Oakworth Capital Inc. grew its position in shares of Otis Worldwide by 49.1% during the third quarter. Oakworth Capital Inc. now owns 343 shares of the company’s stock worth $31,000 after buying an additional 113 shares in the last quarter. Cookson Peirce & Co. Inc. increased its position in shares of Otis Worldwide by 1.8% in the 3rd quarter. Cookson Peirce & Co. Inc. now owns 6,615 shares of the company’s stock valued at $605,000 after purchasing an additional 115 shares during the last quarter. Physician Wealth Advisors Inc. lifted its position in shares of Otis Worldwide by 57.7% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 339 shares of the company’s stock worth $31,000 after purchasing an additional 124 shares during the last quarter. Composition Wealth LLC lifted its position in shares of Otis Worldwide by 4.2% during the 4th quarter. Composition Wealth LLC now owns 3,258 shares of the company’s stock worth $285,000 after purchasing an additional 131 shares during the last quarter. Finally, Cary Street Partners Financial LLC grew its stake in shares of Otis Worldwide by 2.6% during the third quarter. Cary Street Partners Financial LLC now owns 5,165 shares of the company’s stock worth $472,000 after purchasing an additional 132 shares in the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company cut their price target on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a report on Friday, April 24th. 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 research report on Thursday, April 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Otis Worldwide in a research note on Friday, March 27th. Finally, New Street Research set a $98.00 price target on shares of Otis Worldwide in a research note on Friday, January 30th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Otis Worldwide presently has an average rating of “Hold” and an average target price of $97.64.

Otis Worldwide Price Performance

NYSE OTIS opened at $75.62 on Wednesday. The company has a fifty day moving average of $81.99 and a two-hundred day moving average of $86.77. The company has a market capitalization of $29.02 billion, a PE ratio of 20.11, a P/E/G ratio of 2.49 and a beta of 0.95. Otis Worldwide Corporation has a 1 year low of $75.27 and a 1 year high of $101.42.

Otis Worldwide (NYSE:OTIS) last posted its earnings results 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 for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the firm posted $0.92 EPS. The firm’s revenue for the quarter 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, research analysts expect that Otis Worldwide Corporation will post 4.18 earnings per share for the current year.

Otis Worldwide Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be paid a $0.44 dividend. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, May 15th. Otis Worldwide’s dividend payout ratio (DPR) is presently 44.68%.

Insider Activity

In related news, insider Montlivault Stephane De sold 47,944 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $92.25, for a total value of $4,422,834.00. Following the transaction, the insider owned 29,176 shares in the company, valued at $2,691,486. The trade was a 62.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Judith Fran Marks sold 56,107 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $90.89, for a total value of $5,099,565.23. Following the sale, the chief executive officer directly owned 231,072 shares of the company’s stock, valued at approximately $21,002,134.08. This represents a 19.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 105,233 shares of company stock valued at $9,628,850. Insiders own 0.14% of the company’s stock.

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.