Otis Worldwide Corporation $OTIS Shares Bought by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG grew its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 154.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,851 shares of the company’s stock after buying an additional 19,947 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Otis Worldwide were worth $2,113,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Turtle Creek Wealth Advisors LLC lifted its holdings in Otis Worldwide by 1.9% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 9,086 shares of the company’s stock valued at $700,000 after purchasing an additional 169 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Otis Worldwide by 1.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 17,871 shares of the company’s stock valued at $1,280,000 after buying an additional 169 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of Otis Worldwide by 2.5% in the first quarter. Kestra Private Wealth Services LLC now owns 7,102 shares of the company’s stock valued at $547,000 after purchasing an additional 170 shares during the period. Washington Trust Advisors Inc. grew its holdings in shares of Otis Worldwide by 8.0% in the second quarter. Washington Trust Advisors Inc. now owns 2,567 shares of the company’s stock valued at $184,000 after purchasing an additional 190 shares during the period. Finally, Eastern Bank increased its position in Otis Worldwide by 2.7% during the third quarter. Eastern Bank now owns 7,142 shares of the company’s stock worth $459,000 after purchasing an additional 190 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Price Performance

Shares of NYSE:OTIS traded up $0.82 during midday trading on Tuesday, reaching $71.86. 1,068,822 shares of the company’s stock were exchanged, compared to its average volume of 3,893,500. The firm’s 50 day simple moving average is $69.29 and its two-hundred day simple moving average is $72.37. The stock has a market cap of $27.36 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 2.50 and a beta of 0.87. Otis Worldwide Corporation has a fifty-two week low of $63.58 and a fifty-two week high of $94.57.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. Otis Worldwide’s revenue for the quarter was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Equities research analysts predict that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 14th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, August 14th. Otis Worldwide’s dividend payout ratio is 45.24%.

Wall Street Analyst Weigh In

A number of brokerages have commented on OTIS. Royal Bank Of Canada set a $90.00 target price on shares of Otis Worldwide in a research note on Tuesday, July 28th. Wells Fargo & Company initiated coverage on shares of Otis Worldwide in a research note on Thursday, September 24th. They issued an “underweight” rating and a $77.00 price target for the company. Sanford C. Bernstein restated an “outperform” rating on shares of Otis Worldwide in a report on Monday, September 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Finally, Evercore reiterated an “outperform” rating and issued a $95.00 price objective on shares of Otis Worldwide in a report on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Otis Worldwide currently has a consensus rating of “Hold” and an average target price of $91.00.

Otis Worldwide Profile

Otis Worldwide Corporation (NYSE: OTIS) is a global manufacturer and service provider for the elevator and escalator industry. The company designs, manufactures, installs, modernizes and maintains elevators, escalators and moving walkways for commercial buildings, residential developments, transportation hubs and other infrastructure projects.

Otis provides equipment for new construction as well as maintenance, repair and modernization services for existing systems. Its service operations support equipment from Otis and other manufacturers, helping building owners and operators manage the safety, performance and lifecycle of vertical transportation systems.

The company traces its history to 1853, when Elisha Otis demonstrated a safety device for elevators.