Otis Worldwide Corporation $OTIS Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC reduced its stake in Otis Worldwide Corporation (NYSE:OTIS) by 11.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 332,179 shares of the company’s stock after selling 44,242 shares during the quarter. Natixis Advisors LLC owned 0.09% of Otis Worldwide worth $29,016,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in OTIS. Norges Bank acquired a new position in shares of Otis Worldwide in the 4th quarter worth approximately $770,125,000. Van ECK Associates Corp lifted its holdings in Otis Worldwide by 3,464.3% during the 3rd quarter. Van ECK Associates Corp now owns 2,022,770 shares of the company’s stock worth $184,942,000 after buying an additional 1,966,019 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Otis Worldwide by 125.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company’s stock worth $236,891,000 after buying an additional 1,445,904 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in Otis Worldwide by 199.6% during the 3rd quarter. Squarepoint Ops LLC now owns 2,030,095 shares of the company’s stock worth $185,612,000 after buying an additional 1,352,530 shares in the last quarter. Finally, Independent Franchise Partners LLP acquired a new stake in Otis Worldwide during the 3rd quarter worth approximately $100,435,000. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Trading Down 0.1%

Shares of NYSE:OTIS opened at $69.84 on Friday. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $101.42. The company’s 50 day moving average is $75.86 and its two-hundred day moving average is $83.82. The company has a market cap of $26.80 billion, a PE ratio of 18.57, a P/E/G ratio of 2.28 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 analysts’ consensus estimates 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 firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the company posted $0.92 earnings per share. The company’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. As a group, equities research analysts expect that Otis Worldwide Corporation will post 4.2 EPS for the current year.

Otis Worldwide Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s payout ratio is currently 46.81%.

Analysts Set New Price Targets

A number of research firms have issued reports on OTIS. Evercore began coverage on shares of Otis Worldwide in a report on Monday, April 13th. They set an “outperform” rating and a $100.00 target price on the stock. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. UBS Group set a $105.00 target price on shares of Otis Worldwide in a report on Thursday, April 23rd. 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, Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a report on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.