Guinness Asset Management LTD Acquires 206,786 Shares of Otis Worldwide Corporation $OTIS

Guinness Asset Management LTD increased its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,118,941 shares of the company’s stock after purchasing an additional 206,786 shares during the period. Otis Worldwide makes up about 3.0% of Guinness Asset Management LTD’s investment portfolio, making the stock its 20th largest position. Guinness Asset Management LTD owned about 0.54% of Otis Worldwide worth $186,305,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of OTIS. Jones Financial Companies Lllp increased its position in Otis Worldwide by 3.4% in the first quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock worth $949,000 after purchasing an additional 304 shares during the last quarter. Empowered Funds LLC increased its position in Otis Worldwide by 10.5% in the first quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock worth $928,000 after purchasing an additional 857 shares during the last quarter. Acadian Asset Management LLC increased its position in Otis Worldwide by 63.7% in the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock worth $417,000 after purchasing an additional 1,574 shares during the last quarter. Baird Financial Group Inc. boosted its stake in Otis Worldwide by 7.1% during the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock worth $3,193,000 after buying an additional 2,132 shares during the period. Finally, NewEdge Advisors LLC boosted 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 buying an additional 1,196 shares during the period. Institutional investors own 88.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on OTIS shares. Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. JPMorgan Chase & Co. lowered shares of Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 price objective for the company. in a research note on Friday, January 30th. Royal Bank Of Canada dropped their price objective on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. UBS Group set a $105.00 price objective on shares of Otis Worldwide in a research note on Thursday, April 23rd. Finally, Evercore started coverage on shares of Otis Worldwide in a research note on Monday, April 13th. They set an “outperform” rating and a $100.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $97.64.

Otis Worldwide Stock Up 1.6%

NYSE OTIS opened at $72.79 on Friday. The firm has a market capitalization of $27.93 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 2.34 and a beta of 0.95. Otis Worldwide Corporation has a 52 week low of $69.72 and a 52 week high of $101.42. The company has a fifty day moving average of $77.66 and a two-hundred day moving average of $85.10.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The company had revenue of $3.57 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the firm posted $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Equities research analysts anticipate that Otis Worldwide Corporation will post 4.19 EPS for the current year.

Otis Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.44 per share. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, May 15th. Otis Worldwide’s payout ratio is presently 46.81%.

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.