Great Lakes Advisors LLC Acquires 180,433 Shares of Otis Worldwide Corporation $OTIS

Great Lakes Advisors LLC increased its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 51.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 533,611 shares of the company’s stock after buying an additional 180,433 shares during the period. Great Lakes Advisors LLC’s holdings in Otis Worldwide were worth $46,611,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Camelot Portfolios LLC bought a new position in shares of Otis Worldwide in the fourth quarter valued at approximately $26,000. Stance Capital LLC bought a new position in shares of Otis Worldwide in the third quarter valued at approximately $27,000. Elevation Wealth Partners LLC bought a new position in shares of Otis Worldwide in the fourth quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Otis Worldwide in the fourth quarter valued at approximately $33,000. Finally, Board of the Pension Protection Fund bought a new position in Otis Worldwide during the fourth quarter valued at $35,000. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Stock Up 0.8%

Shares of NYSE OTIS opened at $70.23 on Friday. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $101.42. The firm has a market cap of $26.95 billion, a P/E ratio of 18.68, a PEG ratio of 2.27 and a beta of 0.91. The company has a 50 day moving average of $75.18 and a 200 day moving average of $83.22.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share 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 during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. Otis Worldwide’s revenue was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, equities analysts expect that Otis Worldwide Corporation will post 4.2 earnings per share 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. Investors of record on Friday, May 15th will be paid a dividend of $0.44 per share. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, May 15th. 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 46.81%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on OTIS shares. Weiss Ratings lowered Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Sanford C. Bernstein assumed coverage on Otis Worldwide in a research note on Tuesday. They issued an “outperform” rating and a $97.00 target price on the stock. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Evercore started coverage on shares of Otis Worldwide in a report on Monday, April 13th. They issued an “outperform” rating and a $100.00 price objective for the company. Finally, Royal Bank Of Canada lowered their price objective on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $97.58.

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.