8,455 Shares in Otis Worldwide Corporation $OTIS Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,455 shares of the company’s stock, valued at approximately $739,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in Otis Worldwide by 4.5% during the third quarter. Franklin Resources Inc. now owns 7,419,634 shares of the company’s stock worth $678,377,000 after purchasing an additional 322,255 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Otis Worldwide by 3.1% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,778,152 shares of the company’s stock worth $436,866,000 after purchasing an additional 145,817 shares in the last quarter. PineStone Asset Management Inc. raised its holdings in Otis Worldwide by 3.6% during the fourth quarter. PineStone Asset Management Inc. now owns 4,679,997 shares of the company’s stock worth $408,798,000 after purchasing an additional 163,476 shares in the last quarter. Wellington Management Group LLP raised its holdings in Otis Worldwide by 15.3% during the third quarter. Wellington Management Group LLP now owns 3,529,185 shares of the company’s stock worth $322,673,000 after purchasing an additional 468,184 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in Otis Worldwide by 7.9% during the third quarter. Marshall Wace LLP now owns 3,068,281 shares of the company’s stock worth $280,533,000 after purchasing an additional 223,757 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

Otis Worldwide stock opened at $72.79 on Friday. The firm has a market cap of $27.93 billion, a price-to-earnings ratio of 19.36, a price-to-earnings-growth ratio of 2.38 and a beta of 0.95. Otis Worldwide Corporation has a 1 year low of $69.72 and a 1 year high of $101.42. The firm’s 50 day moving average price is $77.66 and its two-hundred day moving average price is $85.10.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the firm posted $0.92 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, equities analysts predict that Otis Worldwide Corporation will post 4.19 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The company 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 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s dividend payout ratio is presently 46.81%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on OTIS shares. JPMorgan Chase & Co. cut Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 target price on the stock. in a report on Friday, January 30th. New Street Research set a $98.00 target price on Otis Worldwide in a report on Friday, January 30th. Morgan Stanley set a $88.00 target price on Otis Worldwide in a report on Friday, April 24th. Wells Fargo & Company dropped their target price on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. Finally, Barclays decreased their price target on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $97.64.

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.