Banque Cantonale Vaudoise Invests $706,000 in Otis Worldwide Corporation $OTIS

Banque Cantonale Vaudoise acquired a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) during the 1st quarter, Holdings Channel reports. The firm acquired 9,157 shares of the company’s stock, valued at approximately $706,000.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Otis Worldwide during the fourth quarter worth approximately $770,125,000. Millennium Management LLC boosted its stake in Otis Worldwide by 1,047.0% during the 4th quarter. Millennium Management LLC now owns 2,387,466 shares of the company’s stock valued at $208,545,000 after acquiring an additional 2,179,314 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Otis Worldwide by 97.9% in the 4th quarter. Van ECK Associates Corp now owns 4,002,589 shares of the company’s stock valued at $349,626,000 after purchasing an additional 1,979,819 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Otis Worldwide by 125.7% during the third quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company’s stock worth $236,891,000 after purchasing an additional 1,445,904 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Otis Worldwide by 199.6% during the third quarter. Squarepoint Ops LLC now owns 2,030,095 shares of the company’s stock worth $185,612,000 after purchasing an additional 1,352,530 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Stock Down 0.4%

Shares of OTIS stock opened at $73.32 on Friday. The business has a 50 day moving average of $73.67 and a two-hundred day moving average of $82.09. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $101.42. The company has a market cap of $28.13 billion, a P/E ratio of 19.50, a PEG ratio of 2.39 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company posted $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Analysts expect that Otis Worldwide Corporation will post 4.2 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, May 15th. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s dividend payout ratio (DPR) is currently 46.81%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OTIS. UBS Group set a $105.00 price objective on Otis Worldwide in a research note on Thursday, April 23rd. Wells Fargo & Company decreased their target price on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 1st. Royal Bank Of Canada lowered their price target on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Barclays dropped their price target on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 23rd. Finally, Sanford C. Bernstein started coverage on shares of Otis Worldwide in a research note on Tuesday, June 9th. They set an “outperform” rating and a $97.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.