Trust Co. of Vermont Makes New Investment in Otis Worldwide Corporation $OTIS

Trust Co. of Vermont purchased a new position in Otis Worldwide Corporation (NYSE:OTIS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,124 shares of the company’s stock, valued at approximately $868,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pinnacle Financial Partners Inc. raised its position in Otis Worldwide by 19.6% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock worth $7,085,000 after buying an additional 12,721 shares during the last quarter. Capital Research Global Investors lifted its stake in Otis Worldwide by 0.6% during the 4th quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock valued at $248,417,000 after acquiring an additional 18,189 shares during the period. Lazard Freres Gestion S.A.S. boosted its holdings in shares of Otis Worldwide by 21.9% during the 4th quarter. Lazard Freres Gestion S.A.S. now owns 1,309,160 shares of the company’s stock valued at $114,355,000 after acquiring an additional 235,316 shares during the last quarter. Danske Bank A S boosted its holdings in shares of Otis Worldwide by 13.3% during the 4th quarter. Danske Bank A S now owns 225,994 shares of the company’s stock valued at $19,741,000 after acquiring an additional 26,500 shares during the last quarter. Finally, Banco Santander S.A. grew its stake in shares of Otis Worldwide by 1,153.2% in the second quarter. Banco Santander S.A. now owns 106,257 shares of the company’s stock worth $7,608,000 after acquiring an additional 97,778 shares during the period. 88.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OTIS. Morgan Stanley set a $75.00 price objective on shares of Otis Worldwide in a report on Monday, August 10th. Royal Bank Of Canada set a $90.00 target price on shares of Otis Worldwide in a report on Tuesday, July 28th. Sanford C. Bernstein cut their target price on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. UBS Group set a $105.00 target price on shares of Otis Worldwide in a research note on Thursday, April 23rd. Finally, Evercore reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Otis Worldwide 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $92.91.

Otis Worldwide Trading Down 0.1%

Shares of NYSE OTIS opened at $70.50 on Wednesday. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $94.57. The firm has a market capitalization of $26.84 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 2.56 and a beta of 0.89. The firm has a 50 day moving average of $72.54 and a 200 day moving average of $77.86.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Sell-side analysts predict that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Dividend Announcement

The business 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. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, August 14th. Otis Worldwide’s dividend payout ratio is 45.24%.

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.