Canada Pension Plan Investment Board Invests $223 Million in Otis Worldwide Corporation $OTIS

Canada Pension Plan Investment Board acquired a new position in Otis Worldwide Corporation (NYSE:OTIS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,114,562 shares of the company’s stock, valued at approximately $223,003,000. Canada Pension Plan Investment Board owned approximately 0.82% of Otis Worldwide at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its holdings in Otis Worldwide by 5.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company’s stock valued at $202,000 after purchasing an additional 123 shares during the period. Boyd Watterson Asset Management LLC OH raised its stake in shares of Otis Worldwide by 4.0% in the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company’s stock worth $281,000 after buying an additional 124 shares during the period. Moors & Cabot Inc. raised its stake in shares of Otis Worldwide by 2.7% in the fourth quarter. Moors & Cabot Inc. now owns 4,741 shares of the company’s stock worth $414,000 after buying an additional 126 shares during the period. Composition Wealth LLC lifted its position in shares of Otis Worldwide by 4.2% during the 4th quarter. Composition Wealth LLC now owns 3,258 shares of the company’s stock valued at $285,000 after buying an additional 131 shares in the last quarter. Finally, Stephens Inc. AR lifted its position in shares of Otis Worldwide by 2.6% during the 4th quarter. Stephens Inc. AR now owns 5,222 shares of the company’s stock valued at $456,000 after buying an additional 132 shares in the last quarter. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Trading Down 0.9%

NYSE:OTIS opened at $71.56 on Wednesday. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $94.57. The stock has a 50-day moving average price of $72.61 and a 200 day moving average price of $77.32. The stock has a market capitalization of $27.24 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.54 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last posted its quarterly 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 in the previous year, the firm earned $1.05 EPS. The firm’s revenue 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. On average, research analysts predict that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Sanford C. Bernstein lowered their price target 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. Evercore reiterated an “outperform” rating and issued a $95.00 price target on shares of Otis Worldwide in a research report on Thursday, July 23rd. Morgan Stanley set a $75.00 price objective on shares of Otis Worldwide in a research note on Monday, August 10th. Finally, Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a research report on Tuesday, July 28th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $92.91.

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.