Otis Worldwide Corporation $OTIS Stock Holdings Lifted by Hsbc Holdings PLC

Hsbc Holdings PLC increased its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 23.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 870,045 shares of the company’s stock after buying an additional 164,978 shares during the period. Hsbc Holdings PLC’s holdings in Otis Worldwide were worth $76,043,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Stance Capital LLC bought a new position in Otis Worldwide in the third quarter worth about $27,000. Camelot Portfolios LLC acquired a new position in Otis Worldwide in the fourth quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Otis Worldwide during the fourth quarter valued at approximately $27,000. Elevation Wealth Partners LLC bought a new position in shares of Otis Worldwide during the fourth quarter valued at approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Otis Worldwide during the 4th quarter worth approximately $33,000. Institutional investors own 88.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on OTIS shares. Weiss Ratings downgraded Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. UBS Group set a $105.00 price objective on Otis Worldwide in a research note on Thursday, April 23rd. Barclays dropped their target price on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 23rd. Sanford C. Bernstein initiated coverage on Otis Worldwide in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $97.00 target price on the stock. Finally, Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $97.58.

Otis Worldwide Stock Down 0.1%

OTIS stock opened at $73.08 on Friday. The company has a 50-day simple moving average of $72.90 and a 200 day simple moving average of $81.56. The company has a market capitalization of $28.04 billion, a P/E ratio of 19.44, a PEG ratio of 2.60 and a beta of 0.90. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $101.42.

Otis Worldwide (NYSE:OTIS) last released 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). Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the business posted $0.92 EPS. The firm’s quarterly 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. Equities analysts anticipate that Otis Worldwide Corporation will post 4.19 EPS for the current year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 15th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, May 15th. Otis Worldwide’s payout ratio is 46.81%.

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.