Otis Worldwide Corporation $OTIS Shares Acquired by USS Investment Management Ltd

USS Investment Management Ltd lifted its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 10.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,701,985 shares of the company’s stock after buying an additional 156,524 shares during the period. Otis Worldwide makes up approximately 0.7% of USS Investment Management Ltd’s investment portfolio, making the stock its 28th biggest holding. USS Investment Management Ltd owned 0.44% of Otis Worldwide worth $148,677,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in OTIS. Camelot Portfolios LLC acquired a new stake in shares of Otis Worldwide during the fourth quarter worth $26,000. Stance Capital LLC acquired a new stake in shares of Otis Worldwide during the third quarter worth $27,000. Elevation Wealth Partners LLC acquired a new stake in shares of Otis Worldwide during the fourth quarter worth $32,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Otis Worldwide during the fourth quarter worth $33,000. Finally, Board of the Pension Protection Fund acquired a new stake in shares of Otis Worldwide during the fourth quarter worth $35,000. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Trading Up 0.0%

Shares of NYSE OTIS opened at $70.77 on Monday. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $101.42. The company has a 50 day simple moving average of $75.04 and a two-hundred day simple moving average of $83.10. The stock has a market cap of $27.16 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 2.31 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data 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 business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. 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. Analysts forecast that Otis Worldwide Corporation will post 4.2 EPS for the current year.

Otis Worldwide Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 15th were issued a dividend of $0.44 per share. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. Otis Worldwide’s payout ratio is presently 46.81%.

Analysts Set New Price Targets

Several research firms have recently commented on OTIS. Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Morgan Stanley set a $88.00 price objective on shares of Otis Worldwide in a research note on Friday, April 24th. UBS Group set a $105.00 price objective on shares of Otis Worldwide in a research note on Thursday, April 23rd. Weiss Ratings cut shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Finally, Wells Fargo & Company decreased their price objective on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $97.58.

Otis Worldwide 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.