12,124 Shares in Otis Worldwide Corporation $OTIS Purchased by Trust Co. of Vermont

Trust Co. of Vermont purchased a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 12,124 shares of the company’s stock, valued at approximately $868,000.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a research report on Tuesday, July 28th. Evercore restated an “outperform” rating and issued a $95.00 price objective on shares of Otis Worldwide in a report on Thursday, July 23rd. Sanford C. Bernstein cut their price objective on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. Morgan Stanley set a $75.00 target price on Otis Worldwide in a report on Monday, August 10th. Finally, Barclays decreased their target price 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. Four 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 presently has a consensus rating of “Hold” and a consensus target price of $92.91.

Otis Worldwide Price Performance

Shares of Otis Worldwide stock opened at $70.50 on Wednesday. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The firm’s 50-day moving average is $72.54 and its 200 day moving average is $77.86. The stock has a market cap of $26.84 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 2.56 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. Otis Worldwide’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business earned $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities analysts expect that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. Otis Worldwide’s dividend payout ratio is presently 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.