North Dakota State Investment Board Invests $1.77 Million in Otis Worldwide Corporation $OTIS

North Dakota State Investment Board bought a new position in Otis Worldwide Corporation (NYSE:OTIS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 20,285 shares of the company’s stock, valued at approximately $1,772,000.

Other institutional investors have also recently made changes to their positions in the company. Root Financial Partners LLC bought a new stake in shares of Otis Worldwide in the 3rd quarter worth about $26,000. Camelot Portfolios LLC bought a new stake in shares of Otis Worldwide in the 4th quarter worth about $26,000. Stance Capital LLC bought a new stake in shares of Otis Worldwide in the 3rd quarter worth about $27,000. Rakuten Investment Management Inc. bought a new stake in shares of Otis Worldwide in the 3rd quarter worth about $31,000. Finally, Oakworth Capital Inc. lifted its holdings in shares of Otis Worldwide by 49.1% in the 3rd quarter. Oakworth Capital Inc. now owns 343 shares of the company’s stock worth $31,000 after acquiring an additional 113 shares during the last quarter. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

OTIS stock opened at $70.84 on Wednesday. The company has a market capitalization of $27.18 billion, a PE ratio of 18.84, a P/E/G ratio of 2.33 and a beta of 0.95. The firm’s 50-day moving average is $78.51 and its 200 day moving average is $85.48. Otis Worldwide Corporation has a 12 month low of $69.72 and a 12 month high of $101.42.

Otis Worldwide (NYSE:OTIS) last posted 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 business had revenue of $3.57 billion for 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% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Sell-side analysts forecast that Otis Worldwide Corporation will post 4.19 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 given a dividend of $0.44 per share. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. Otis Worldwide’s payout ratio is 46.81%.

Analyst Upgrades and Downgrades

OTIS has been the subject of several analyst reports. Barclays lowered their target price 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. Royal Bank Of Canada reduced their price target on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a research note on Friday, April 24th. New Street Research set a $98.00 price target on shares of Otis Worldwide in a research note on Friday, January 30th. Finally, Weiss Ratings downgraded shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company 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.