Meiji Yasuda Asset Management Co Ltd. Takes $739,000 Position in Otis Worldwide Corporation $OTIS

Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,455 shares of the company’s stock, valued at approximately $739,000.

Several other large investors also recently modified their holdings of OTIS. Jones Financial Companies Lllp grew its stake 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 in the last quarter. Empowered Funds LLC grew its stake 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 in the last quarter. Acadian Asset Management LLC grew its stake 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 in the last quarter. Baird Financial Group Inc. grew its stake in Otis Worldwide by 7.1% in the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock worth $3,193,000 after purchasing an additional 2,132 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Otis Worldwide by 13.3% in the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock worth $1,012,000 after purchasing an additional 1,196 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on OTIS shares. Barclays decreased their price target on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Thursday, April 23rd. Weiss Ratings downgraded Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Wells Fargo & Company decreased their price target on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. UBS Group set a $105.00 price target on Otis Worldwide in a research note on Thursday, April 23rd. Finally, Evercore initiated coverage on shares of Otis Worldwide in a report on Monday, April 13th. They issued an “outperform” rating and a $100.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $97.64.

Otis Worldwide Stock Up 1.6%

Shares of NYSE OTIS opened at $72.79 on Friday. The firm’s 50-day moving average price is $77.66 and its two-hundred day moving average price is $85.10. Otis Worldwide Corporation has a 52-week low of $69.72 and a 52-week high of $101.42. The stock has a market capitalization of $27.93 billion, a P/E ratio of 19.36, a P/E/G ratio of 2.38 and a beta of 0.95.

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). Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the business earned $0.92 EPS. The business’s revenue was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, equities research analysts expect that Otis Worldwide Corporation will post 4.19 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. Stockholders of record on Friday, May 15th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, May 15th. Otis Worldwide’s dividend payout ratio is presently 46.81%.

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.