Otis Worldwide Corporation $OTIS Shares Bought by Man Group plc

Man Group plc grew its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 80.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,271,232 shares of the company’s stock after acquiring an additional 565,908 shares during the quarter. Man Group plc owned about 0.33% of Otis Worldwide worth $111,042,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of OTIS. Stance Capital LLC acquired a new stake in Otis Worldwide in the third quarter worth about $27,000. Camelot Portfolios LLC acquired a new stake in Otis Worldwide in the fourth quarter worth about $26,000. Elevation Wealth Partners LLC acquired a new stake in Otis Worldwide in the fourth quarter worth about $32,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Otis Worldwide in the fourth quarter worth about $33,000. Finally, Board of the Pension Protection Fund acquired a new stake in Otis Worldwide in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Trading Down 1.0%

Shares of NYSE OTIS opened at $72.75 on Thursday. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $101.42. The company has a market capitalization of $27.91 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.40 and a beta of 0.91. The firm has a 50-day moving average of $74.72 and a two-hundred day moving average of $82.77.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results 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 net margin of 10.11% and a negative return on equity of 29.39%. The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the company posted $0.92 earnings per share. Otis Worldwide’s revenue was up 6.4% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, research analysts predict that Otis Worldwide Corporation will post 4.2 earnings per share for the current year.

Otis Worldwide Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on OTIS shares. Wells Fargo & Company reduced their price objective on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. 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 report on Thursday, April 23rd. UBS Group set a $105.00 price objective on shares of Otis Worldwide in a report on Thursday, April 23rd. Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Finally, Weiss Ratings downgraded shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.