TD Asset Management Inc Boosts Position in Otis Worldwide Corporation $OTIS

TD Asset Management Inc lifted its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 13.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 212,072 shares of the company’s stock after acquiring an additional 24,400 shares during the period. TD Asset Management Inc owned 0.05% of Otis Worldwide worth $18,524,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Stance Capital LLC purchased a new position in shares of Otis Worldwide during the 3rd quarter worth $27,000. Camelot Portfolios LLC purchased a new position in shares of Otis Worldwide during the 4th quarter worth $26,000. Elevation Wealth Partners LLC purchased a new position in shares of Otis Worldwide during the 4th quarter worth $32,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Otis Worldwide during the 4th quarter worth $33,000. Finally, Board of the Pension Protection Fund purchased a new position in shares of Otis Worldwide during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Trading Up 0.1%

Shares of OTIS opened at $70.41 on Monday. The firm has a market cap of $27.02 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 2.29 and a beta of 0.91. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $101.42. The company’s 50-day moving average price is $75.70 and its 200 day moving average price is $83.70.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). The company had revenue of $3.57 billion during 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 quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last 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 forecast that Otis Worldwide Corporation will post 4.2 earnings per share for the current year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, May 15th. Otis Worldwide’s payout ratio is currently 46.81%.

Analyst Upgrades and Downgrades

OTIS has been the topic of several analyst reports. Wolfe Research lowered Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Wells Fargo & Company reduced their price target on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. Evercore began coverage on shares of Otis Worldwide in a report on Monday, April 13th. They issued an “outperform” rating and a $100.00 price objective on the stock. Royal Bank Of Canada reduced their price objective on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Finally, Morgan Stanley set a $88.00 price objective on shares of Otis Worldwide in a report on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $97.64.

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.