Northwestern Mutual Wealth Management Co. Takes $1.28 Million Position in Otis Worldwide Corporation $OTIS

Northwestern Mutual Wealth Management Co. purchased a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 17,871 shares of the company’s stock, valued at approximately $1,280,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Quantbot Technologies LP purchased a new stake in shares of Otis Worldwide in the 2nd quarter worth about $8,698,000. Evolve Private Wealth LLC purchased a new position in Otis Worldwide during the 2nd quarter valued at about $323,000. Varma Mutual Pension Insurance Co acquired a new position in Otis Worldwide during the second quarter worth about $12,418,000. Westpac Banking Corp acquired a new position in Otis Worldwide during the second quarter worth about $92,000. Finally, Landscape Capital Management L.L.C. acquired a new position in Otis Worldwide during the second quarter worth about $528,000. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley set a $75.00 price target on shares of Otis Worldwide in a research report on Monday, August 10th. Evercore reissued an “outperform” rating and set a $95.00 price objective on shares of Otis Worldwide in a research note on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a research report on Tuesday, July 28th. Sanford C. Bernstein reduced their target price on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $92.91.

Otis Worldwide Trading Down 0.9%

Shares of OTIS stock opened at $71.56 on Wednesday. The company has a market capitalization of $27.24 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 2.54 and a beta of 0.89. The firm has a 50-day moving average price of $72.61 and a 200 day moving average price of $77.32. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $94.57.

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

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. Otis Worldwide’s dividend payout ratio is presently 45.24%.

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.