OneDigital Investment Advisors LLC Acquires Shares of 7,120 Otis Worldwide Corporation $OTIS

OneDigital Investment Advisors LLC acquired a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,120 shares of the company’s stock, valued at approximately $510,000.

Several other hedge funds and other institutional investors also recently modified their holdings of OTIS. State Street Corp grew its stake in Otis Worldwide by 0.8% in the fourth quarter. State Street Corp now owns 16,128,197 shares of the company’s stock worth $1,408,798,000 after purchasing an additional 121,207 shares in the last quarter. Geode Capital Management LLC raised its stake in Otis Worldwide by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 10,788,225 shares of the company’s stock valued at $945,020,000 after buying an additional 29,636 shares in the last quarter. Norges Bank acquired a new stake in Otis Worldwide during the fourth quarter valued at approximately $770,125,000. Franklin Resources Inc. lifted its holdings in Otis Worldwide by 5.7% during the 4th quarter. Franklin Resources Inc. now owns 7,842,153 shares of the company’s stock worth $685,012,000 after buying an additional 422,519 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Otis Worldwide by 97.9% during the 4th quarter. Van ECK Associates Corp now owns 4,002,589 shares of the company’s stock worth $349,626,000 after buying an additional 1,979,819 shares during the last quarter. Institutional investors own 88.03% of the company’s stock.

Wall Street Analysts Forecast Growth

OTIS has been the subject of a number of research analyst reports. Evercore reiterated an “outperform” rating and issued a $95.00 price target on shares of Otis Worldwide in a report on Thursday, July 23rd. UBS Group set a $105.00 price objective on Otis Worldwide in a research note on Thursday, April 23rd. Barclays decreased their price objective on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Royal Bank Of Canada set a $90.00 target price on shares of Otis Worldwide in a research note on Tuesday, July 28th. Finally, Sanford C. Bernstein dropped their target price on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $92.91.

Otis Worldwide Stock Down 0.1%

Shares of OTIS stock opened at $70.50 on Wednesday. The company has a market cap of $26.84 billion, a P/E ratio of 18.12, a PEG ratio of 2.56 and a beta of 0.89. The business has a 50 day moving average of $72.54 and a two-hundred day moving average of $77.86. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $94.57.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the prior year, the firm earned $1.05 EPS. The business’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. Analysts expect that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 annualized dividend and a yield of 2.5%. Otis Worldwide’s dividend payout ratio (DPR) is currently 45.24%.

Otis Worldwide Company 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.