Otis Worldwide Corporation $OTIS Shares Acquired by Lazard Freres Gestion S.A.S.

Lazard Freres Gestion S.A.S. grew its stake in Otis Worldwide Corporation (NYSE:OTIS) by 21.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,309,160 shares of the company’s stock after purchasing an additional 235,316 shares during the period. Otis Worldwide makes up approximately 2.1% of Lazard Freres Gestion S.A.S.’s portfolio, making the stock its 16th biggest holding. Lazard Freres Gestion S.A.S.’s holdings in Otis Worldwide were worth $114,355,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Oakworth Capital Inc. increased its holdings in shares of Otis Worldwide by 49.1% in the third quarter. Oakworth Capital Inc. now owns 343 shares of the company’s stock valued at $31,000 after purchasing an additional 113 shares during the period. Cookson Peirce & Co. Inc. grew its holdings in Otis Worldwide by 1.8% during the third quarter. Cookson Peirce & Co. Inc. now owns 6,615 shares of the company’s stock worth $605,000 after acquiring an additional 115 shares during the period. Physician Wealth Advisors Inc. grew its holdings in Otis Worldwide by 57.7% during the third quarter. Physician Wealth Advisors Inc. now owns 339 shares of the company’s stock worth $31,000 after acquiring an additional 124 shares during the period. Boyd Watterson Asset Management LLC OH grew its holdings in Otis Worldwide by 4.0% during the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company’s stock worth $281,000 after acquiring an additional 124 shares during the period. Finally, Composition Wealth LLC grew its holdings in Otis Worldwide by 4.2% during the fourth quarter. Composition Wealth LLC now owns 3,258 shares of the company’s stock worth $285,000 after acquiring an additional 131 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

Otis Worldwide stock opened at $70.84 on Wednesday. The firm has a market capitalization of $27.18 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. Otis Worldwide Corporation has a fifty-two week low of $69.72 and a fifty-two week high of $101.42. The stock’s fifty day moving average is $78.51 and its two-hundred day moving average is $85.48.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the company posted $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, sell-side analysts forecast 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 will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.5%. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, May 15th. Otis Worldwide’s dividend payout ratio is currently 46.81%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on OTIS shares. New Street Research set a $98.00 price objective on Otis Worldwide in a report on Friday, January 30th. Barclays dropped their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 23rd. Royal Bank Of Canada dropped their price objective on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a report on Friday, April 24th. Finally, Wells Fargo & Company dropped their price objective on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $97.64.

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.