Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires Shares of 14,007 Otis Worldwide Corporation $OTIS

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) during the fourth quarter, Holdings Channel.com reports. The fund purchased 14,007 shares of the company’s stock, valued at approximately $1,224,000.

A number of other large investors also recently made changes to their positions in the company. Oakworth Capital Inc. lifted its position in shares of Otis Worldwide by 49.1% during the third quarter. Oakworth Capital Inc. now owns 343 shares of the company’s stock valued at $31,000 after purchasing an additional 113 shares in the last quarter. Cookson Peirce & Co. Inc. lifted its position in shares of Otis Worldwide by 1.8% during the third quarter. Cookson Peirce & Co. Inc. now owns 6,615 shares of the company’s stock valued at $605,000 after purchasing an additional 115 shares in the last quarter. Physician Wealth Advisors Inc. lifted its position in shares of Otis Worldwide by 57.7% during the third quarter. Physician Wealth Advisors Inc. now owns 339 shares of the company’s stock valued at $31,000 after purchasing an additional 124 shares in the last quarter. Boyd Watterson Asset Management LLC OH lifted its position in shares of Otis Worldwide by 4.0% during the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company’s stock valued at $281,000 after purchasing an additional 124 shares in the last quarter. Finally, Composition Wealth LLC lifted its position in shares of Otis Worldwide by 4.2% during the fourth quarter. Composition Wealth LLC now owns 3,258 shares of the company’s stock valued at $285,000 after purchasing an additional 131 shares in the last quarter. 88.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OTIS. Evercore began coverage on shares of Otis Worldwide in a research report on Monday, April 13th. They set an “outperform” rating and a $100.00 price target on the stock. Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a research report on Friday, April 24th. Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Royal Bank Of Canada dropped 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 report on Thursday, April 23rd. Finally, Barclays dropped their price target on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $97.64.

Otis Worldwide Stock Performance

Shares of OTIS stock opened at $72.79 on Friday. The firm has a market cap of $27.93 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 2.38 and a beta of 0.95. Otis Worldwide Corporation has a 52 week low of $69.72 and a 52 week high of $101.42. The firm’s 50-day simple moving average is $77.66 and its two-hundred day simple moving average is $85.10.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). The company 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%.The business’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Analysts forecast that Otis Worldwide Corporation will post 4.19 earnings per share for the current year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be given a $0.44 dividend. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, May 15th. Otis Worldwide’s payout ratio is presently 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.