Otis Worldwide Corporation $OTIS Shares Acquired by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. increased its position in Otis Worldwide Corporation (NYSE:OTIS) by 18.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,286,436 shares of the company’s stock after acquiring an additional 357,617 shares during the period. Goldman Sachs Group Inc.’s holdings in Otis Worldwide were worth $199,720,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of OTIS. Camelot Portfolios LLC acquired a new stake in shares of Otis Worldwide in the fourth quarter valued at $26,000. Stance Capital LLC acquired a new stake in shares of Otis Worldwide in the third quarter valued at $27,000. Westside Investment Management Inc. lifted its holdings in shares of Otis Worldwide by 100.0% in the third quarter. Westside Investment Management Inc. now owns 336 shares of the company’s stock valued at $31,000 after buying an additional 168 shares during the period. Elevation Wealth Partners LLC acquired a new stake in shares of Otis Worldwide in the fourth quarter valued at $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Otis Worldwide in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OTIS. UBS Group set a $105.00 price objective on Otis Worldwide in a report on Thursday, April 23rd. Royal Bank Of Canada cut their price objective on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Weiss Ratings downgraded Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Wells Fargo & Company reduced their target price on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. Finally, Evercore initiated coverage on Otis Worldwide in a report on Monday, April 13th. They set an “outperform” rating and a $100.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $97.64.

Otis Worldwide Stock Up 0.8%

Shares of NYSE OTIS opened at $70.41 on Friday. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $101.42. The company has a market cap of $27.02 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 2.29 and a beta of 0.91. The business has a fifty day simple moving average of $75.70 and a 200-day simple moving average of $83.73.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The company had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the company earned $0.92 earnings per share. The company’s revenue for the quarter 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, sell-side analysts expect that Otis Worldwide Corporation will post 4.2 EPS for the current fiscal 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 issued a dividend of $0.44 per share. This is a positive change 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 of this dividend is Friday, May 15th. Otis Worldwide’s dividend payout ratio (DPR) is currently 46.81%.

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.