232,894 Shares in Otis Worldwide Corporation $OTIS Acquired by Danske Bank A S

Danske Bank A S bought a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 232,894 shares of the company’s stock, valued at approximately $16,675,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OTIS. Camelot Portfolios LLC acquired a new position in shares of Otis Worldwide in the 4th quarter valued at $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Otis Worldwide during the 4th quarter worth about $27,000. MidFirst Bank purchased a new stake in Otis Worldwide in the 2nd quarter valued at about $28,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Otis Worldwide in the 2nd quarter valued at about $28,000. Finally, Elevation Wealth Partners LLC raised its holdings in Otis Worldwide by 1,910.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock valued at $29,000 after buying an additional 382 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

Shares of NYSE:OTIS opened at $71.77 on Friday. The firm has a market capitalization of $27.32 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 2.54 and a beta of 0.89. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The firm’s 50-day moving average is $72.62 and its two-hundred day moving average is $77.66.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Analysts expect that Otis Worldwide Corporation will post 4.02 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Evercore reaffirmed an “outperform” rating and set a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. UBS Group set a $105.00 price objective on shares of Otis Worldwide in a report on Thursday, April 23rd. Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a research report on Tuesday, July 28th. Morgan Stanley set a $75.00 target price on shares of Otis Worldwide in a report on Monday, August 10th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.