Otis Worldwide Corporation $OTIS Shares Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp increased its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 44.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,600 shares of the company’s stock after purchasing an additional 52,200 shares during the period. Alberta Investment Management Corp’s holdings in Otis Worldwide were worth $14,902,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. CIBC Private Wealth Group LLC lifted its stake 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 worth $264,277,000 after acquiring an additional 1,013,876 shares during the period. SG Americas Securities LLC lifted its stake in shares of Otis Worldwide by 12,345.2% in the 4th quarter. SG Americas Securities LLC now owns 499,177 shares of the company’s stock worth $43,603,000 after acquiring an additional 495,166 shares during the period. Pinnacle Financial Partners Inc. lifted its stake in shares of 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 acquiring an additional 12,721 shares during the period. Caprock Group LLC acquired a new stake in shares of Otis Worldwide in the 3rd quarter worth $982,000. Finally, Canoe Financial LP lifted its stake in shares of Otis Worldwide by 15.6% in the 4th quarter. Canoe Financial LP now owns 2,787,870 shares of the company’s stock worth $243,520,000 after acquiring an additional 375,914 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Up 1.6%

Shares of NYSE OTIS opened at $71.86 on Tuesday. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $101.42. The firm has a 50-day moving average price of $74.92 and a 200 day moving average price of $82.99. The stock has a market capitalization of $27.57 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 2.31 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last announced 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). Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The company had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the business earned $0.92 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Equities research analysts expect 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 was paid on Friday, June 12th. Investors of record on Friday, May 15th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, May 15th. Otis Worldwide’s dividend payout ratio (DPR) is 46.81%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Weiss Ratings cut shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Evercore assumed coverage on shares of Otis Worldwide in a research note on Monday, April 13th. They issued an “outperform” rating and a $100.00 target price for the company. Barclays reduced their target price on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Thursday, April 23rd. Finally, UBS Group set a $105.00 target price on shares of Otis Worldwide in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and a consensus target price of $97.58.

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.