64,322 Shares in Otis Worldwide Corporation $OTIS Purchased by Osmosis Investment Management UK Ltd

Osmosis Investment Management UK Ltd acquired a new stake in Otis Worldwide Corporation (NYSE:OTIS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 64,322 shares of the company’s stock, valued at approximately $4,605,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new stake in shares of Otis Worldwide in the second quarter valued at approximately $3,296,000. Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Otis Worldwide during the second quarter worth approximately $561,000. Bank of Nova Scotia bought a new position in Otis Worldwide in the 2nd quarter worth approximately $2,911,000. Elevation Point Wealth Partners LLC bought a new position in Otis Worldwide in the 2nd quarter worth approximately $329,000. Finally, Daiichi Life Insurance Co. Ltd. acquired a new stake in Otis Worldwide in the 2nd quarter valued at approximately $639,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Price Performance

Otis Worldwide stock opened at $71.65 on Monday. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $94.57. The stock has a market capitalization of $27.27 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. The firm has a 50 day simple moving average of $72.64 and a 200-day simple moving average of $77.56.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, July 22nd. The company reported $1.01 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 negative return on equity of 28.50% and a net margin of 10.17%.The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, analysts forecast that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on OTIS shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Morgan Stanley set a $75.00 price target on Otis Worldwide in a research note on Monday, August 10th. Evercore reissued an “outperform” rating and set a $95.00 price target on shares of Otis Worldwide in a report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a research note on Tuesday, July 28th. Finally, Sanford C. Bernstein reduced their price objective on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Four research 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’s stock. According to data from MarketBeat, Otis Worldwide presently has an average rating of “Hold” and an average target price of $92.91.

About Otis Worldwide

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.