Swiss National Bank Boosts Holdings in Otis Worldwide Corporation $OTIS

Swiss National Bank boosted its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 6.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,143,643 shares of the company’s stock after acquiring an additional 68,000 shares during the period. Swiss National Bank owned 0.30% of Otis Worldwide worth $88,152,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC grew its stake in Otis Worldwide by 12,345.2% during the 4th quarter. SG Americas Securities LLC now owns 499,177 shares of the company’s stock worth $43,603,000 after purchasing an additional 495,166 shares in the last quarter. Pinnacle Financial Partners Inc. raised its stake in Otis Worldwide by 19.6% in the third quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock valued at $7,085,000 after buying an additional 12,721 shares in the last quarter. Oak Thistle LLC purchased a new position in shares of Otis Worldwide in the 4th quarter valued at about $2,046,000. Pensionfund Sabic purchased a new stake in Otis Worldwide during the fourth quarter worth approximately $1,136,000. Finally, Capital Research Global Investors grew its position in shares of Otis Worldwide by 0.6% in the 4th quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock valued at $248,417,000 after buying an additional 18,189 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on OTIS shares. Wolfe Research downgraded Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Weiss Ratings cut Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Royal Bank Of Canada lowered their price objective on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Sanford C. Bernstein initiated coverage on shares of Otis Worldwide in a research note on Tuesday, June 9th. They set an “outperform” rating and a $97.00 price target on the stock. Finally, Evercore assumed coverage on Otis Worldwide in a report on Monday, April 13th. They issued an “outperform” rating and a $100.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $96.55.

Otis Worldwide Price Performance

OTIS stock opened at $73.55 on Tuesday. The company’s 50 day simple moving average is $72.08 and its 200-day simple moving average is $80.38. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $101.14. The firm has a market capitalization of $28.22 billion, a PE ratio of 19.56, a P/E/G ratio of 2.64 and a beta of 0.90.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (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 analysts’ expectations of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. Otis Worldwide’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, sell-side analysts anticipate that Otis Worldwide Corporation will post 4.16 earnings per share for the current year.

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.