Securian Asset Management Inc. Has $926,000 Stock Position in Otis Worldwide Corporation $OTIS

Securian Asset Management Inc. lowered its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 44.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,597 shares of the company’s stock after selling 8,356 shares during the period. Securian Asset Management Inc.’s holdings in Otis Worldwide were worth $926,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OTIS. Root Financial Partners LLC bought a new position in shares of Otis Worldwide in the 3rd quarter valued at about $26,000. Camelot Portfolios LLC bought a new stake in Otis Worldwide during the fourth quarter worth about $26,000. Stance Capital LLC bought a new stake in Otis Worldwide during the third quarter worth about $27,000. Rakuten Investment Management Inc. acquired a new position in Otis Worldwide during the third quarter valued at approximately $31,000. Finally, Oakworth Capital Inc. grew its stake in Otis Worldwide by 49.1% in the third quarter. Oakworth Capital Inc. now owns 343 shares of the company’s stock valued at $31,000 after purchasing an additional 113 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lowered Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 price target on the stock. in a research report on Friday, January 30th. New Street Research set a $98.00 target price on shares of Otis Worldwide in a research note on Friday, January 30th. Wells Fargo & Company lowered 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. UBS Group set a $105.00 price target on shares of Otis Worldwide in a research report on Thursday, April 23rd. Finally, Wolfe Research cut shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $97.64.

Otis Worldwide Stock Down 1.1%

NYSE:OTIS opened at $73.27 on Thursday. The stock’s 50 day moving average price is $80.05 and its two-hundred day moving average price is $86.06. The firm has a market capitalization of $28.11 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 2.43 and a beta of 0.95. Otis Worldwide Corporation has a 12-month low of $72.51 and a 12-month high of $101.42.

Otis Worldwide (NYSE:OTIS) last issued its 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). The business had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.77 billion. Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Equities research analysts expect that Otis Worldwide Corporation will post 4.18 EPS for the current year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, May 15th. Otis Worldwide’s dividend payout ratio (DPR) is presently 44.68%.

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.