Shelter Ins Retirement Plan Takes $1.15 Million Position in Otis Worldwide Corporation $OTIS

Shelter Ins Retirement Plan acquired a new position in Otis Worldwide Corporation (NYSE:OTIS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,000 shares of the company’s stock, valued at approximately $1,145,600. Otis Worldwide comprises about 0.0% of Shelter Ins Retirement Plan’s investment portfolio, making the stock its 5th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Camelot Portfolios LLC acquired a new stake in Otis Worldwide during the 4th quarter worth about $26,000. Garton & Associates Financial Advisors LLC acquired a new position in Otis Worldwide during the 4th quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC purchased a new position in Otis Worldwide in the 4th quarter worth about $33,000. Reflection Asset Management bought a new stake in Otis Worldwide during the fourth quarter worth approximately $34,000. Finally, MidFirst Bank bought a new position in shares of Otis Worldwide during the fourth quarter valued at $35,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Trading Up 0.0%

OTIS traded up $0.02 during trading on Friday, reaching $71.50. 1,483,263 shares of the company’s stock were exchanged, compared to its average volume of 3,716,144. The stock has a market capitalization of $27.22 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.55 and a beta of 0.89. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $94.57. The firm has a fifty day moving average price of $72.57 and a two-hundred day moving average price of $77.06.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business earned $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Sell-side analysts expect that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. Otis Worldwide’s dividend payout ratio (DPR) is currently 45.24%.

Analyst Upgrades and Downgrades

OTIS has been the subject of a number of research analyst reports. Morgan Stanley set a $75.00 price target on Otis Worldwide in a report on Monday, August 10th. Evercore reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 target price on shares of Otis Worldwide in a research note on Tuesday, July 28th. Sanford C. Bernstein decreased their target price on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Otis Worldwide has an average rating of “Hold” and a consensus target price of $92.91.

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.