Aware Super Pty Ltd as trustee of Aware Super Acquires Shares of 16,356 Otis Worldwide Corporation $OTIS

Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 16,356 shares of the company’s stock, valued at approximately $1,261,000.

Several other hedge funds also recently made changes to their positions in OTIS. Jones Financial Companies Lllp increased its holdings in Otis Worldwide by 3.4% during the 1st quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock valued at $949,000 after acquiring an additional 304 shares in the last quarter. Empowered Funds LLC increased its position in Otis Worldwide by 10.5% during the first quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock worth $928,000 after buying an additional 857 shares in the last quarter. Acadian Asset Management LLC increased its position in Otis Worldwide by 63.7% during the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock worth $417,000 after buying an additional 1,574 shares in the last quarter. Baird Financial Group Inc. raised its holdings in shares of Otis Worldwide by 7.1% in the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock worth $3,193,000 after acquiring an additional 2,132 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Otis Worldwide by 13.3% in the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock worth $1,012,000 after acquiring an additional 1,196 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Analysts Set New Price Targets

OTIS has been the topic of a number of analyst reports. Royal Bank Of Canada decreased their price objective on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. UBS Group set a $105.00 target price on shares of Otis Worldwide in a research note on Thursday, April 23rd. Wells Fargo & Company reduced their target price on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. Evercore started coverage on shares of Otis Worldwide in a research note on Monday, April 13th. They set an “outperform” rating and a $100.00 price target on the stock. Finally, Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Otis Worldwide currently has a consensus rating of “Hold” and a consensus target price of $96.55.

Otis Worldwide Stock Performance

Shares of NYSE:OTIS opened at $73.50 on Friday. The stock has a 50-day simple moving average of $72.09 and a 200-day simple moving average of $80.53. The stock has a market capitalization of $28.20 billion, a P/E ratio of 19.55, a PEG ratio of 2.69 and a beta of 0.90. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $101.14.

Otis Worldwide (NYSE:OTIS) last posted its quarterly 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 business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the business posted $0.92 EPS. The company’s quarterly 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 predict that Otis Worldwide Corporation will post 4.16 earnings per share for the current year.

Otis Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s dividend payout ratio (DPR) is presently 46.81%.

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.