Hsbc Holdings PLC Makes New Investment in Otis Worldwide Corporation $OTIS

Hsbc Holdings PLC bought a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,269,413 shares of the company’s stock, valued at approximately $90,918,000. Hsbc Holdings PLC owned about 0.33% of Otis Worldwide at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnacle Financial Partners Inc. boosted its stake in shares of 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 acquiring an additional 12,721 shares during the last quarter. Capital Research Global Investors grew its position in shares of Otis Worldwide by 0.6% during the 4th quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock valued at $248,417,000 after acquiring an additional 18,189 shares during the period. Lazard Freres Gestion S.A.S. increased its stake in shares of Otis Worldwide by 21.9% in the 4th quarter. Lazard Freres Gestion S.A.S. now owns 1,309,160 shares of the company’s stock worth $114,355,000 after purchasing an additional 235,316 shares in the last quarter. Banco Santander S.A. increased its stake in shares of Otis Worldwide by 1,153.2% in the 2nd quarter. Banco Santander S.A. now owns 106,257 shares of the company’s stock worth $7,608,000 after purchasing an additional 97,778 shares in the last quarter. Finally, Danske Bank A S raised its holdings in Otis Worldwide by 13.3% in the 4th quarter. Danske Bank A S now owns 225,994 shares of the company’s stock worth $19,741,000 after purchasing an additional 26,500 shares during the period. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Price Performance

Shares of OTIS stock opened at $72.42 on Thursday. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $94.57. The company’s fifty day moving average price is $72.60 and its 200-day moving average price is $77.19. The company has a market capitalization of $27.57 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 2.52 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting 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 company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. 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. Equities research analysts expect that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be paid 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 2.4%. Otis Worldwide’s dividend payout ratio is 45.24%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on OTIS shares. Sanford C. Bernstein lowered their target price on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. Evercore restated an “outperform” rating and issued a $95.00 price target on shares of Otis Worldwide in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Morgan Stanley set a $75.00 price objective on Otis Worldwide in a research report on Monday, August 10th. Finally, Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a research note on Tuesday, July 28th. Four research 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 presently has a consensus rating of “Hold” and an average price target of $92.91.

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.