Eurizon Capital SGR S.p.A. Invests $6.43 Million in Otis Worldwide Corporation $OTIS

Eurizon Capital SGR S.p.A. acquired a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 73,591 shares of the company’s stock, valued at approximately $6,431,000.

Other institutional investors have also added to or reduced their stakes in the company. Hillsdale Investment Management Inc. increased its stake in Otis Worldwide by 10.1% in the 4th quarter. Hillsdale Investment Management Inc. now owns 11,340 shares of the company’s stock worth $991,000 after acquiring an additional 1,040 shares during the last quarter. Basepoint Wealth LLC bought a new position in Otis Worldwide in the 4th quarter worth about $53,000. Northwestern Mutual Wealth Management Co. increased its stake in Otis Worldwide by 4.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 44,664 shares of the company’s stock worth $3,901,000 after acquiring an additional 1,925 shares during the last quarter. Moors & Cabot Inc. increased its stake in Otis Worldwide by 2.7% in the 4th quarter. Moors & Cabot Inc. now owns 4,741 shares of the company’s stock worth $414,000 after acquiring an additional 126 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in Otis Worldwide by 22.1% in the 4th quarter. Intech Investment Management LLC now owns 20,425 shares of the company’s stock worth $1,784,000 after acquiring an additional 3,699 shares during the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

NYSE OTIS opened at $69.36 on Tuesday. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $101.42. The stock has a 50 day simple moving average of $76.39 and a two-hundred day simple moving average of $84.25. The stock has a market cap of $26.62 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 2.31 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Sell-side analysts predict that Otis Worldwide Corporation will post 4.2 earnings per share for the current year.

Otis Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend 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 46.81%.

Analyst Ratings Changes

OTIS has been the topic of several recent research reports. Evercore initiated coverage on Otis Worldwide in a research report on Monday, April 13th. They set an “outperform” rating and a $100.00 price objective on the stock. Wolfe Research lowered Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Weiss Ratings lowered Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Barclays reduced their price objective 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. Finally, Wells Fargo & Company reduced their price objective on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 1st. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Otis Worldwide has an average rating of “Hold” and an average 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.