MUFG Securities EMEA plc Purchases 8,465 Shares of Otis Worldwide Corporation $OTIS

MUFG Securities EMEA plc boosted its position in Otis Worldwide Corporation (NYSE:OTIS) by 112.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 15,977 shares of the company’s stock after acquiring an additional 8,465 shares during the period. MUFG Securities EMEA plc’s holdings in Otis Worldwide were worth $1,396,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC raised its stake 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 valued at $264,277,000 after acquiring an additional 1,013,876 shares during the period. SG Americas Securities LLC raised its stake 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 valued at $43,603,000 after acquiring an additional 495,166 shares during the period. Pinnacle Financial Partners Inc. lifted its holdings in Otis Worldwide by 19.6% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock worth $7,085,000 after purchasing an additional 12,721 shares in the last quarter. Caprock Group LLC purchased a new stake in Otis Worldwide during the 3rd quarter worth about $982,000. Finally, Canoe Financial LP lifted its holdings in Otis Worldwide by 15.6% during the 4th quarter. Canoe Financial LP now owns 2,787,870 shares of the company’s stock worth $243,520,000 after purchasing an additional 375,914 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OTIS. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a report on Friday, April 24th. UBS Group set a $105.00 price objective on Otis Worldwide in a report on Thursday, April 23rd. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Barclays dropped their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 23rd. Finally, Wells Fargo & Company dropped their price objective 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. Three 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. According to data from MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and an average target price of $97.64.

Otis Worldwide Stock Up 1.3%

Shares of NYSE OTIS opened at $70.23 on Wednesday. The firm has a market capitalization of $26.95 billion, a P/E ratio of 18.68, a P/E/G ratio of 2.26 and a beta of 0.91. The stock’s 50-day simple moving average is $76.39 and its two-hundred day simple moving average is $84.25. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $101.42.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The business had revenue of $3.57 billion during 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%.Otis Worldwide’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, 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 will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be paid a $0.44 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s dividend payout ratio is currently 46.81%.

About Otis Worldwide

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.