Louisiana State Employees Retirement System Takes $1.53 Million Position in Otis Worldwide Corporation $OTIS

Louisiana State Employees Retirement System bought a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 19,800 shares of the company’s stock, valued at approximately $1,526,000.

A number of other large investors have also added to or reduced their stakes in OTIS. CIBC Private Wealth Group LLC lifted its holdings in Otis Worldwide by 54.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,890,482 shares of the company’s stock worth $264,277,000 after purchasing an additional 1,013,876 shares during the last quarter. SG Americas Securities LLC increased its holdings in Otis Worldwide by 12,345.2% in the 4th quarter. SG Americas Securities LLC now owns 499,177 shares of the company’s stock valued at $43,603,000 after buying an additional 495,166 shares during the period. Pinnacle Financial Partners Inc. raised its position in shares of Otis Worldwide by 19.6% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock valued at $7,085,000 after buying an additional 12,721 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of Otis Worldwide during the 4th quarter worth approximately $2,046,000. Finally, Canoe Financial LP boosted its position in shares of Otis Worldwide by 15.6% during the 4th quarter. Canoe Financial LP now owns 2,787,870 shares of the company’s stock worth $243,520,000 after acquiring an additional 375,914 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Down 1.2%

Shares of OTIS opened at $70.72 on Thursday. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $101.42. The business has a 50-day simple moving average of $73.12 and a two-hundred day simple moving average of $81.73. The stock has a market cap of $27.14 billion, a PE ratio of 18.81, a PEG ratio of 2.34 and a beta of 0.90.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the business posted $0.92 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, equities research analysts expect that Otis Worldwide Corporation will post 4.19 EPS for the current year.

Otis Worldwide Increases Dividend

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

Analyst Ratings Changes

Several brokerages have recently issued reports on OTIS. UBS Group set a $105.00 price target on Otis Worldwide in a research note on Thursday, April 23rd. Wells Fargo & Company reduced their price objective on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Royal Bank Of Canada decreased their target price on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Morgan Stanley set a $88.00 target price on Otis Worldwide in a research note on Friday, April 24th. Finally, Wolfe Research cut shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Otis Worldwide presently has a consensus rating of “Hold” and an average price target of $97.58.

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.