Healthcare of Ontario Pension Plan Trust Fund Acquires 9,018 Shares of Otis Worldwide Corporation $OTIS

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 58.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,424 shares of the company’s stock after buying an additional 9,018 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Otis Worldwide were worth $1,883,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Camelot Portfolios LLC bought a new stake in Otis Worldwide during the fourth quarter valued at about $26,000. Garton & Associates Financial Advisors LLC purchased a new position in Otis Worldwide in the fourth quarter valued at about $27,000. Kohmann Bosshard Financial Services LLC bought a new position in Otis Worldwide in the fourth quarter worth about $33,000. Reflection Asset Management bought a new position in Otis Worldwide in the fourth quarter worth about $34,000. Finally, MidFirst Bank purchased a new stake in shares of Otis Worldwide during the fourth quarter valued at about $35,000. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OTIS has been the topic of a number of analyst reports. Sanford C. Bernstein cut their price objective on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. Barclays decreased 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 report on Thursday, April 23rd. Royal Bank Of Canada set a $90.00 target price on shares of Otis Worldwide in a research note on Tuesday. Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Finally, Evercore reaffirmed an “outperform” rating and set a $95.00 price target on shares of Otis Worldwide in a research 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $94.09.

Otis Worldwide Trading Up 0.4%

NYSE OTIS opened at $71.98 on Friday. The company has a fifty day simple moving average of $72.08 and a two-hundred day simple moving average of $79.38. The stock has a market cap of $27.40 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.54 and a beta of 0.90. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $94.57.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting the consensus estimate of $1.01. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The business’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. As a group, sell-side analysts forecast that Otis Worldwide Corporation will post 4 earnings per share for the current year.

Otis Worldwide Announces Dividend

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