Clarkston Capital Partners LLC Decreases Stake in Otis Worldwide Corporation $OTIS

Clarkston Capital Partners LLC reduced its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 8.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,554 shares of the company’s stock after selling 13,144 shares during the period. Clarkston Capital Partners LLC’s holdings in Otis Worldwide were worth $12,627,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stance Capital LLC purchased a new position in shares of Otis Worldwide in the third quarter worth about $27,000. Camelot Portfolios LLC purchased a new position in shares of Otis Worldwide in the fourth quarter worth about $26,000. Elevation Wealth Partners LLC purchased a new position in shares of Otis Worldwide in the fourth quarter worth about $32,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Otis Worldwide in the fourth quarter worth about $33,000. Finally, Board of the Pension Protection Fund purchased a new position in shares of Otis Worldwide in the fourth quarter worth about $35,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Price Performance

Shares of OTIS stock opened at $70.77 on Friday. The firm’s 50-day moving average is $75.04 and its two-hundred day moving average is $83.13. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $101.42. The company has a market capitalization of $27.16 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 2.29 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last issued its earnings results 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 negative return on equity of 29.39% and a net margin of 10.11%.The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the firm earned $0.92 earnings per share. Otis Worldwide’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. Sell-side analysts forecast that Otis Worldwide Corporation will post 4.2 EPS for the current year.

Otis Worldwide Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 15th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Friday, May 15th. Otis Worldwide’s payout ratio is presently 46.81%.

Wall Street Analyst Weigh In

OTIS has been the topic of several research reports. Royal Bank Of Canada decreased their price target on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Sanford C. Bernstein initiated coverage on shares of Otis Worldwide in a research note on Tuesday. They issued an “outperform” rating and a $97.00 price target on the stock. Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a research note on Friday, April 24th. Finally, Wells Fargo & Company decreased their price target on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $97.58.

Otis Worldwide Company 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.