Groupama Asset Managment Increases Stake in Otis Worldwide Corporation $OTIS

Groupama Asset Managment increased its stake in Otis Worldwide Corporation (NYSE:OTIS) by 245.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 9,848 shares of the company’s stock after buying an additional 6,999 shares during the period. Groupama Asset Managment’s holdings in Otis Worldwide were worth $759,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of OTIS. Jones Financial Companies Lllp grew its stake in shares of Otis Worldwide by 3.4% during the 1st quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock valued at $949,000 after buying an additional 304 shares during the period. Empowered Funds LLC boosted its holdings in Otis Worldwide by 10.5% in the first quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock valued at $928,000 after acquiring an additional 857 shares during the last quarter. Acadian Asset Management LLC grew its position in Otis Worldwide by 63.7% during the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock valued at $417,000 after acquiring an additional 1,574 shares during the period. Baird Financial Group Inc. grew its position in Otis Worldwide by 7.1% during the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock valued at $3,193,000 after acquiring an additional 2,132 shares during the period. Finally, NewEdge Advisors LLC increased its stake in Otis Worldwide by 13.3% during the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock worth $1,012,000 after acquiring an additional 1,196 shares during the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wolfe Research downgraded Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a research report on Friday, April 24th. Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Sanford C. Bernstein reduced their price target on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. Finally, Evercore reiterated an “outperform” rating and set a $95.00 price objective on shares of Otis Worldwide in a research note on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $94.09.

Otis Worldwide Price Performance

NYSE:OTIS opened at $71.98 on Monday. The business’s 50-day moving average is $72.08 and its two-hundred day moving average is $79.31. The firm has a market capitalization of $27.40 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 2.55 and a beta of 0.90. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $94.57.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the business earned $1.05 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Equities analysts anticipate that Otis Worldwide Corporation will post 4 EPS for the current year.

Otis Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be 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 is Friday, August 14th. Otis Worldwide’s dividend payout ratio is currently 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.