Generate Investment Management Ltd Makes New $5.99 Million Investment in Otis Worldwide Corporation $OTIS

Generate Investment Management Ltd purchased a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 93,067 shares of the company’s stock, valued at approximately $5,986,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of OTIS. Orion Capital Management LLC bought a new position in Otis Worldwide during the second quarter valued at about $27,000. Reflection Asset Management bought a new stake in Otis Worldwide in the fourth quarter worth about $34,000. MidFirst Bank acquired a new position in shares of Otis Worldwide in the 4th quarter worth approximately $35,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Otis Worldwide in the 2nd quarter worth approximately $28,000. Finally, Elevation Wealth Partners LLC raised its holdings in shares of Otis Worldwide by 1,910.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock worth $29,000 after purchasing an additional 382 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Up 1.9%

Shares of OTIS traded up $1.29 during mid-day trading on Wednesday, reaching $68.97. The company’s stock had a trading volume of 2,041,086 shares, compared to its average volume of 3,877,243. Otis Worldwide Corporation has a 1 year low of $63.58 and a 1 year high of $94.57. The company has a market cap of $26.25 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87. The business has a fifty day moving average of $69.52 and a 200 day moving average of $72.55.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, analysts predict that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 14th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.6%. Otis Worldwide’s dividend payout ratio (DPR) is 45.24%.

Analyst Upgrades and Downgrades

OTIS has been the subject of several recent research reports. Sanford C. Bernstein reissued an “outperform” rating on shares of Otis Worldwide in a research note on Monday, September 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a research report on Tuesday, July 28th. Morgan Stanley set a $75.00 price objective on Otis Worldwide in a research note on Monday, August 10th. Finally, Evercore restated an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a report on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and an average target price of $91.00.

Otis Worldwide Company Profile

Otis Worldwide Corporation (NYSE: OTIS) is a global manufacturer and service provider focused on elevator and escalator systems. The company designs, manufactures, installs and maintains elevators, escalators and moving walkways for commercial buildings, residential properties, transportation hubs and other infrastructure.

Its offerings include passenger and freight elevators, escalators, moving walkways, digital monitoring solutions and related components. Otis also provides ongoing maintenance, repair, modernization and replacement services, which support the performance and safety of equipment throughout its operating life.

The company traces its origins to 1853, when Elisha Graves Otis demonstrated a safety elevator that helped make taller buildings practical.