Dynamic Technology Lab Private Ltd Invests $1.19 Million in Otis Worldwide Corporation $OTIS

Dynamic Technology Lab Private Ltd bought a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) during the fourth quarter, Holdings Channel reports. The firm bought 13,602 shares of the company’s stock, valued at approximately $1,188,000.

Other hedge funds also recently made changes to their positions in the company. Stance Capital LLC bought a new stake in shares of Otis Worldwide during the 3rd quarter worth $27,000. Camelot Portfolios LLC bought a new stake in shares of Otis Worldwide during the 4th quarter worth $26,000. Elevation Wealth Partners LLC bought a new stake in shares of Otis Worldwide during the 4th quarter worth $32,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Otis Worldwide during the 4th quarter worth $33,000. Finally, Board of the Pension Protection Fund bought a new stake in shares of Otis Worldwide during the 4th quarter worth $35,000. 88.03% of the stock is currently owned by institutional investors.

Otis Worldwide Stock Performance

Shares of OTIS opened at $70.77 on Friday. The business has a 50-day moving average of $75.04 and a 200 day moving average of $83.13. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $101.42. The firm has a market cap of $27.16 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 2.29 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The company’s revenue was up 6.4% compared to the same quarter last year. 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. As a group, research analysts predict that Otis Worldwide Corporation will post 4.2 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 15th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, May 15th. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s payout ratio is presently 46.81%.

Analysts Set New Price Targets

OTIS has been the subject of several recent research reports. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a report on Friday, April 24th. Barclays decreased their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. UBS Group set a $105.00 price objective on Otis Worldwide in a report on Thursday, April 23rd. Weiss Ratings lowered Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Finally, Wolfe Research lowered Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $97.58.

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.