Plato Investment Management Ltd Makes New Investment in Otis Worldwide Corporation $OTIS

Plato Investment Management Ltd purchased a new position in Otis Worldwide Corporation (NYSE:OTIS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,718 shares of the company’s stock, valued at approximately $1,404,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OTIS. Camelot Portfolios LLC bought a new position in Otis Worldwide during the 4th quarter valued at about $26,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Otis Worldwide in the fourth quarter worth approximately $27,000. Elevation Wealth Partners LLC grew its stake in shares of Otis Worldwide by 1,910.0% in the second quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock worth $29,000 after acquiring an additional 382 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Otis Worldwide during the fourth quarter valued at approximately $33,000. Finally, Reflection Asset Management bought a new position in Otis Worldwide during the fourth quarter valued at approximately $34,000. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Price Performance

Shares of OTIS stock opened at $70.53 on Tuesday. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The firm has a fifty day moving average price of $72.56 and a 200-day moving average price of $77.99. The company has a market cap of $26.85 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 2.56 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same period last year, the firm earned $1.05 EPS. Otis Worldwide’s revenue for the quarter was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Equities research analysts expect that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. Otis Worldwide’s payout ratio is 45.24%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OTIS. Sanford C. Bernstein dropped their target price on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Morgan Stanley set a $75.00 price target on Otis Worldwide in a report on Monday, August 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Barclays reduced their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Thursday, April 23rd. Finally, UBS Group set a $105.00 target price on Otis Worldwide in a research report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $92.91.

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.