Otis Worldwide Corporation $OTIS Shares Acquired by WINTON GROUP Ltd

WINTON GROUP Ltd lifted its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 244.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 95,504 shares of the company’s stock after purchasing an additional 67,804 shares during the period. WINTON GROUP Ltd’s holdings in Otis Worldwide were worth $8,342,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vise Technologies Inc. boosted its position in Otis Worldwide by 38.6% during the 4th quarter. Vise Technologies Inc. now owns 6,567 shares of the company’s stock worth $574,000 after purchasing an additional 1,830 shares during the period. Daiwa Securities Group Inc. boosted its position in Otis Worldwide by 25.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 90,670 shares of the company’s stock worth $7,920,000 after purchasing an additional 18,301 shares during the period. TD Asset Management Inc boosted its position in Otis Worldwide by 13.0% during the 4th quarter. TD Asset Management Inc now owns 212,072 shares of the company’s stock worth $18,524,000 after purchasing an additional 24,400 shares during the period. Cibc World Market Inc. boosted its position in Otis Worldwide by 18.7% during the 4th quarter. Cibc World Market Inc. now owns 43,108 shares of the company’s stock worth $3,765,000 after purchasing an additional 6,778 shares during the period. Finally, Intellectus Partners LLC boosted its position in Otis Worldwide by 44.6% during the 4th quarter. Intellectus Partners LLC now owns 4,601 shares of the company’s stock worth $402,000 after purchasing an additional 1,419 shares during the period. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Price Performance

Shares of Otis Worldwide stock opened at $70.41 on Friday. The business has a 50-day moving average of $75.70 and a 200-day moving average of $83.73. The company has a market capitalization of $27.02 billion, a PE ratio of 18.73, a P/E/G ratio of 2.28 and a beta of 0.91. Otis Worldwide Corporation has a 1-year low of $69.16 and a 1-year high of $101.42.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). The business had revenue of $3.57 billion for the quarter, compared to analyst estimates 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 was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, equities analysts expect that Otis Worldwide Corporation will post 4.2 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The firm 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 a boost from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, May 15th. Otis Worldwide’s payout ratio is 46.81%.

Wall Street Analysts Forecast Growth

OTIS has been the subject of a number of research reports. Barclays decreased their price target on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Thursday, April 23rd. Weiss Ratings cut shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Royal Bank Of Canada decreased their price target on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Evercore initiated coverage on shares of Otis Worldwide in a research report on Monday, April 13th. They set an “outperform” rating and a $100.00 price target for the company. Finally, UBS Group set a $105.00 price target on shares of Otis Worldwide in a research report on Thursday, April 23rd. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Otis Worldwide has an average rating of “Hold” and a consensus price target of $97.64.

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.