Morningstar Investment Management LLC Boosts Stake in Otis Worldwide Corporation $OTIS

Morningstar Investment Management LLC lifted its position in Otis Worldwide Corporation (NYSE:OTIS) by 240.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,541 shares of the company’s stock after purchasing an additional 48,413 shares during the quarter. Morningstar Investment Management LLC’s holdings in Otis Worldwide were worth $5,283,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Otis Worldwide by 0.8% in the fourth quarter. State Street Corp now owns 16,128,197 shares of the company’s stock valued at $1,408,798,000 after buying an additional 121,207 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Otis Worldwide by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 10,788,225 shares of the company’s stock valued at $945,020,000 after acquiring an additional 29,636 shares during the period. Norges Bank acquired a new stake in shares of Otis Worldwide in the fourth quarter valued at approximately $770,125,000. Franklin Resources Inc. grew its position in shares of Otis Worldwide by 5.7% during the fourth quarter. Franklin Resources Inc. now owns 7,842,153 shares of the company’s stock worth $685,012,000 after acquiring an additional 422,519 shares during the last quarter. Finally, PineStone Asset Management Inc. grew its position in shares of Otis Worldwide by 3.6% during the fourth quarter. PineStone Asset Management Inc. now owns 4,679,997 shares of the company’s stock worth $408,798,000 after acquiring an additional 163,476 shares during the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Analyst Ratings Changes

OTIS has been the topic of a number of recent research reports. Evercore reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a report on Thursday. UBS Group set a $105.00 price target on shares of Otis Worldwide in a research note on Thursday, April 23rd. Weiss Ratings downgraded shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Finally, Royal Bank Of Canada reduced their target price 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. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $95.45.

Key Otis Worldwide News

Here are the key news stories impacting Otis Worldwide this week:

• Positive Sentiment: Otis’ service segment remains the main growth driver, with modernization up 24% and maintenance trends accelerating, while backlog and order momentum in the Americas support the longer-term outlook. Otis Worldwide: Don’t Expect Meaningful Upside Near-Term, But I Remain Bullish
• Positive Sentiment: Otis declared a quarterly dividend of $0.44 per share, reinforcing its cash-return profile for income-focused investors. Otis Declares Quarterly Dividend of $0.44 per Share
• Neutral Sentiment: The stock is trading below recent historical valuation levels after a sizable year-to-date decline, which may interest value investors but does not change the near-term operating challenges. Is Otis Stock Attractive After Guidance Cuts and Its 19% YTD Slide?
• Neutral Sentiment: Analysts continue to rate Otis as a “Hold,” reflecting a balanced view between steady service growth and weaker equipment demand. Otis Worldwide Corporation (NYSE:OTIS) Given Consensus Rating of “Hold” by Analysts
• Negative Sentiment: Recent earnings commentary points to contracting margins, weaker New Equipment demand, and continued drag from China, which is why investors are focusing on the guidance cut rather than the revenue beat. Otis Worldwide: Strong Service Growth Still Needs To Show Margin Expansion

Otis Worldwide Trading Up 1.7%

Shares of OTIS stock opened at $71.94 on Friday. The company has a market capitalization of $27.61 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 2.64 and a beta of 0.90. The business’s 50 day moving average is $71.95 and its two-hundred day moving average is $79.97. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $94.57.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting the consensus estimate of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the business earned $1.05 earnings per share. The company’s quarterly revenue 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, equities analysts predict that Otis Worldwide Corporation will post 4 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s payout ratio is currently 45.24%.

About Otis Worldwide

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.