USS Investment Management Ltd Boosts Stock Holdings in Otis Worldwide Corporation $OTIS

USS Investment Management Ltd grew its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 10.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,701,985 shares of the company’s stock after purchasing an additional 156,524 shares during the quarter. Otis Worldwide makes up about 0.7% of USS Investment Management Ltd’s portfolio, making the stock its 28th biggest holding. USS Investment Management Ltd’s holdings in Otis Worldwide were worth $148,677,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. CIBC Private Wealth Group LLC increased its holdings in Otis Worldwide by 54.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,890,482 shares of the company’s stock worth $264,277,000 after acquiring an additional 1,013,876 shares in the last quarter. SG Americas Securities LLC increased its holdings in Otis Worldwide by 12,345.2% in the 4th quarter. SG Americas Securities LLC now owns 499,177 shares of the company’s stock worth $43,603,000 after acquiring an additional 495,166 shares in the last quarter. Pinnacle Financial Partners Inc. increased its holdings in Otis Worldwide by 19.6% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock worth $7,085,000 after acquiring an additional 12,721 shares in the last quarter. Caprock Group LLC purchased a new stake in Otis Worldwide in the 3rd quarter worth $982,000. Finally, Canoe Financial LP increased its holdings in Otis Worldwide by 15.6% in the 4th quarter. Canoe Financial LP now owns 2,787,870 shares of the company’s stock worth $243,520,000 after acquiring an additional 375,914 shares in the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OTIS. Royal Bank Of Canada cut their price target on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Barclays cut their price target on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a report on Friday, April 24th. Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Finally, Evercore began coverage on shares of Otis Worldwide in a report on Monday, April 13th. They issued an “outperform” rating and a $100.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $97.58.

Otis Worldwide Stock Up 0.0%

Otis Worldwide stock opened at $70.77 on Monday. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $101.42. The firm has a market capitalization of $27.16 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 2.31 and a beta of 0.91. The company has a fifty day simple moving average of $75.04 and a 200-day simple moving average of $83.10.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the company earned $0.92 EPS. Otis Worldwide’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. On average, research analysts anticipate that Otis Worldwide Corporation will post 4.2 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 15th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. Otis Worldwide’s payout ratio is currently 46.81%.

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.