EFG International AG Makes New Investment in Otis Worldwide Corporation $OTIS

EFG International AG acquired a new stake in Otis Worldwide Corporation (NYSE:OTIS) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,391 shares of the company’s stock, valued at approximately $672,000.

Other institutional investors have also added to or reduced their stakes in the company. Ancora Advisors LLC purchased a new stake in shares of Otis Worldwide during the 2nd quarter valued at approximately $138,000. Primecap Management Co. CA purchased a new position in Otis Worldwide in the 2nd quarter valued at approximately $147,170,000. Canada Pension Plan Investment Board bought a new stake in Otis Worldwide during the 2nd quarter valued at $223,003,000. Legal & General Group Plc bought a new stake in Otis Worldwide during the 2nd quarter valued at $177,515,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Otis Worldwide during the second quarter worth $19,529,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OTIS has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Evercore reissued an “outperform” rating and set a $95.00 price objective on shares of Otis Worldwide in a report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 target price on Otis Worldwide in a research note 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 for the company in a report on Thursday, July 23rd. Finally, Morgan Stanley set a $75.00 price target on Otis Worldwide in a research report on Monday, August 10th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $92.91.

Otis Worldwide Stock Performance

Otis Worldwide stock opened at $71.47 on Friday. The stock has a market cap of $27.21 billion, a P/E ratio of 18.37, a PEG ratio of 2.55 and a beta of 0.89. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $94.57. The firm’s fifty day moving average price is $72.57 and its 200-day moving average price is $77.06.

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

Otis Worldwide Announces Dividend

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