National Pension Service Has $53.82 Million Stock Position in Otis Worldwide Corporation $OTIS

National Pension Service decreased its position in Otis Worldwide Corporation (NYSE:OTIS) by 3.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 616,139 shares of the company’s stock after selling 18,752 shares during the period. National Pension Service owned approximately 0.16% of Otis Worldwide worth $53,820,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OTIS. Van ECK Associates Corp grew its holdings in shares of Otis Worldwide by 3,464.3% in the 3rd quarter. Van ECK Associates Corp now owns 2,022,770 shares of the company’s stock valued at $184,942,000 after buying an additional 1,966,019 shares during the period. AQR Capital Management LLC grew its holdings in shares of Otis Worldwide by 125.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company’s stock valued at $236,891,000 after buying an additional 1,445,904 shares during the period. Squarepoint Ops LLC grew its holdings in shares of Otis Worldwide by 199.6% in the 3rd quarter. Squarepoint Ops LLC now owns 2,030,095 shares of the company’s stock valued at $185,612,000 after buying an additional 1,352,530 shares during the period. Independent Franchise Partners LLP acquired a new position in shares of Otis Worldwide in the 3rd quarter valued at $100,435,000. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Otis Worldwide by 54.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,890,482 shares of the company’s stock valued at $264,277,000 after buying an additional 1,013,876 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Trading Down 0.4%

OTIS opened at $70.92 on Friday. The stock has a market capitalization of $27.21 billion, a P/E ratio of 18.86, a P/E/G ratio of 2.31 and a beta of 0.95. Otis Worldwide Corporation has a 12 month low of $69.72 and a 12 month high of $101.42. The firm’s fifty day simple moving average is $76.61 and its 200 day simple moving average is $84.44.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, equities research analysts predict that Otis Worldwide Corporation will post 4.2 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 15th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.76 annualized dividend and a yield of 2.5%. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s payout ratio is presently 46.81%.

Analyst Upgrades and Downgrades

OTIS has been the subject of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a report on Friday, April 24th. Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Royal Bank Of Canada decreased their price target on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, UBS Group set a $105.00 price objective on shares of Otis Worldwide in a research report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and an average target price of $97.64.

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.