Plato Investment Management Ltd Makes New Investment in Otis Worldwide Corporation $OTIS

Plato Investment Management Ltd acquired a new stake in Otis Worldwide Corporation (NYSE:OTIS) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,718 shares of the company’s stock, valued at approximately $1,404,000.

Several other institutional investors have also recently made changes to their positions in OTIS. Camelot Portfolios LLC purchased a new position in Otis Worldwide in the 4th quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in Otis Worldwide during the 4th quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Otis Worldwide during the fourth quarter valued at approximately $33,000. Reflection Asset Management purchased a new position in shares of Otis Worldwide in the fourth quarter worth $34,000. Finally, MidFirst Bank bought a new position in shares of Otis Worldwide during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Down 2.9%

Otis Worldwide stock opened at $70.53 on Tuesday. The company has a market cap of $26.85 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 2.56 and a beta of 0.89. The firm’s fifty day moving average is $72.56 and its 200 day moving average is $77.99. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $94.57.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the business earned $1.05 earnings per share. Otis Worldwide’s quarterly revenue was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities research analysts anticipate that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. Otis Worldwide’s dividend payout ratio (DPR) is presently 45.24%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on OTIS shares. Barclays cut their target price on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Thursday, April 23rd. Morgan Stanley set a $75.00 price objective on shares of Otis Worldwide in a report on Monday, August 10th. Sanford C. Bernstein cut their price objective on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Evercore reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada set a $90.00 price target on Otis Worldwide in a research note on Tuesday, July 28th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Otis Worldwide has a consensus rating of “Hold” and a consensus price target of $92.91.

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.