Mitsubishi UFJ Asset Management Co. Ltd. Has $413.90 Million Position in Otis Worldwide Corporation $OTIS

Mitsubishi UFJ Asset Management Co. Ltd. cut its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,685,310 shares of the company’s stock after selling 92,842 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Otis Worldwide were worth $413,900,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of OTIS. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Otis Worldwide by 1.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,484 shares of the company’s stock worth $4,497,000 after buying an additional 755 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Otis Worldwide by 1.2% in the 4th quarter. Principal Financial Group Inc. now owns 437,199 shares of the company’s stock worth $38,189,000 after purchasing an additional 5,326 shares in the last quarter. QRG Capital Management Inc. raised its position in Otis Worldwide by 14.8% in the fourth quarter. QRG Capital Management Inc. now owns 24,553 shares of the company’s stock valued at $2,145,000 after purchasing an additional 3,157 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its position in Otis Worldwide by 44.4% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 5,119 shares of the company’s stock valued at $447,000 after purchasing an additional 1,574 shares during the last quarter. Finally, Varma Mutual Pension Insurance Co boosted its stake in shares of Otis Worldwide by 17.5% during the fourth quarter. Varma Mutual Pension Insurance Co now owns 150,642 shares of the company’s stock valued at $13,159,000 after purchasing an additional 22,400 shares in the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. cut Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 price target on the stock. in a report on Friday, January 30th. Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a research report on Friday, April 24th. 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. Royal Bank Of Canada decreased their price target on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Finally, 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 for the company. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $97.64.

Otis Worldwide Stock Down 0.3%

Shares of NYSE OTIS opened at $75.62 on Wednesday. The company has a market capitalization of $29.02 billion, a PE ratio of 20.11, a P/E/G ratio of 2.49 and a beta of 0.95. Otis Worldwide Corporation has a twelve month low of $75.27 and a twelve month high of $101.42. The firm has a fifty day simple moving average of $81.99 and a 200 day simple moving average of $86.77.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the business posted $0.92 EPS. The company’s 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. As a group, equities analysts expect that Otis Worldwide Corporation will post 4.18 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 15th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.3%. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, May 15th. Otis Worldwide’s payout ratio is presently 44.68%.

Insider Buying and Selling

In related news, CEO Judith Fran Marks sold 56,107 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $90.89, for a total transaction of $5,099,565.23. Following the sale, the chief executive officer owned 231,072 shares of the company’s stock, valued at approximately $21,002,134.08. This represents a 19.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Michael Patrick Ryan sold 1,182 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $90.06, for a total value of $106,450.92. Following the completion of the transaction, the chief accounting officer owned 3,504 shares of the company’s stock, valued at approximately $315,570.24. This represents a 25.22% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 105,233 shares of company stock valued at $9,628,850. Company insiders own 0.14% of the company’s stock.

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.