USS Investment Management Ltd Boosts Holdings in Otis Worldwide Corporation $OTIS

USS Investment Management Ltd increased its position in Otis Worldwide Corporation (NYSE:OTIS) by 3.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,767,235 shares of the company’s stock after purchasing an additional 65,250 shares during the period. USS Investment Management Ltd owned approximately 0.46% of Otis Worldwide worth $136,210,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Otis Worldwide in the fourth quarter worth about $770,125,000. Millennium Management LLC grew its holdings in shares of Otis Worldwide by 1,047.0% during the fourth quarter. Millennium Management LLC now owns 2,387,466 shares of the company’s stock valued at $208,545,000 after buying an additional 2,179,314 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Otis Worldwide by 97.9% during the fourth quarter. Van ECK Associates Corp now owns 4,002,589 shares of the company’s stock valued at $349,626,000 after buying an additional 1,979,819 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Otis Worldwide by 125.7% during the third quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company’s stock valued at $236,891,000 after acquiring an additional 1,445,904 shares in the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of Otis Worldwide by 199.6% during the third quarter. Squarepoint Ops LLC now owns 2,030,095 shares of the company’s stock valued at $185,612,000 after acquiring an additional 1,352,530 shares in the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on OTIS shares. Morgan Stanley set a $88.00 price objective on shares of Otis Worldwide in a report on Friday, April 24th. Wolfe Research lowered Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Sanford C. Bernstein began coverage on Otis Worldwide in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $97.00 price target for the company. Evercore initiated coverage on Otis Worldwide in a report on Monday, April 13th. They set an “outperform” rating and a $100.00 price target on the stock. Finally, UBS Group set a $105.00 price objective on Otis Worldwide in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $97.58.

Otis Worldwide Trading Down 1.9%

Shares of OTIS stock opened at $71.52 on Wednesday. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $101.42. The firm’s 50 day moving average is $73.32 and its 200 day moving average is $81.85. The stock has a market capitalization of $27.44 billion, a P/E ratio of 19.02, a P/E/G ratio of 2.38 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates 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 company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, equities analysts predict that Otis Worldwide Corporation will post 4.2 earnings per share for the current year.

Otis Worldwide Increases Dividend

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

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.