1,718,901 Shares in Otis Worldwide Corporation $OTIS Acquired by Deutsche Bank AG

Deutsche Bank AG acquired a new stake in Otis Worldwide Corporation (NYSE:OTIS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,718,901 shares of the company’s stock, valued at approximately $123,073,000.

Other hedge funds also recently modified their holdings of the company. Camelot Portfolios LLC bought a new position in Otis Worldwide in the 4th quarter valued at about $26,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Otis Worldwide during the fourth quarter worth approximately $27,000. Elevation Wealth Partners LLC boosted its holdings in shares of Otis Worldwide by 1,910.0% during the second quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock worth $29,000 after acquiring an additional 382 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Otis Worldwide during the fourth quarter worth approximately $33,000. Finally, Reflection Asset Management acquired a new position in shares of Otis Worldwide in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Price Performance

Shares of NYSE:OTIS opened at $72.15 on Thursday. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The stock has a market capitalization of $27.46 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 2.48 and a beta of 0.89. The company’s 50 day simple moving average is $72.59 and its 200 day simple moving average is $77.76.

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

Otis Worldwide Announces Dividend

The company 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 annualized dividend and a dividend yield of 2.4%. Otis Worldwide’s dividend payout ratio is currently 45.24%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on OTIS shares. UBS Group set a $105.00 target price on Otis Worldwide in a research note on Thursday, April 23rd. Evercore restated an “outperform” rating and issued a $95.00 price target on shares of Otis Worldwide in a research note on Thursday, July 23rd. Barclays decreased their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada set a $90.00 target price on Otis Worldwide in a report on Tuesday, July 28th. 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’s stock. According to MarketBeat, the company currently 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.