Otis Worldwide Corporation $OTIS Stake Lessened by Independent Franchise Partners LLP

Independent Franchise Partners LLP cut its stake in Otis Worldwide Corporation (NYSE:OTIS) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,064,149 shares of the company’s stock after selling 34,347 shares during the period. Otis Worldwide makes up approximately 0.6% of Independent Franchise Partners LLP’s investment portfolio, making the stock its 27th biggest position. Independent Franchise Partners LLP owned approximately 0.27% of Otis Worldwide worth $92,953,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in OTIS. Camelot Portfolios LLC bought a new position in shares of Otis Worldwide in the fourth quarter valued at approximately $26,000. Stance Capital LLC bought a new position in shares of Otis Worldwide in the third quarter valued at approximately $27,000. Elevation Wealth Partners LLC bought a new position in shares of Otis Worldwide in the fourth quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Otis Worldwide in the fourth quarter valued at approximately $33,000. Finally, Board of the Pension Protection Fund bought a new position in shares of Otis Worldwide in the fourth quarter valued at approximately $35,000. 88.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group set a $105.00 price objective on shares of Otis Worldwide in a report on Thursday, April 23rd. 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. Wolfe Research cut shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a report on Friday, April 24th. Finally, 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 report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Otis Worldwide currently has a consensus rating of “Hold” and an average price target of $97.58.

Otis Worldwide Stock Down 1.0%

OTIS stock opened at $72.75 on Thursday. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $101.42. The company has a market cap of $27.91 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.40 and a beta of 0.91. The company has a 50 day moving average of $74.72 and a two-hundred day moving average of $82.77.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (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 company had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the company earned $0.92 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, research analysts anticipate that Otis Worldwide Corporation will post 4.2 EPS for the current year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 15th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s payout ratio is 46.81%.

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.