California State Teachers Retirement System Sells 16,673 Shares of Otis Worldwide Corporation $OTIS

California State Teachers Retirement System reduced its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 627,151 shares of the company’s stock after selling 16,673 shares during the quarter. California State Teachers Retirement System’s holdings in Otis Worldwide were worth $48,341,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Smartleaf Asset Management LLC raised its position in Otis Worldwide by 5.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company’s stock valued at $202,000 after purchasing an additional 123 shares during the last quarter. Boyd Watterson Asset Management LLC OH grew its holdings in shares of Otis Worldwide by 4.0% during the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company’s stock worth $281,000 after purchasing an additional 124 shares during the last quarter. Moors & Cabot Inc. increased its stake in shares of Otis Worldwide by 2.7% in the fourth quarter. Moors & Cabot Inc. now owns 4,741 shares of the company’s stock valued at $414,000 after buying an additional 126 shares in the last quarter. Composition Wealth LLC increased its stake in shares of Otis Worldwide by 4.2% in the fourth quarter. Composition Wealth LLC now owns 3,258 shares of the company’s stock valued at $285,000 after buying an additional 131 shares in the last quarter. Finally, Stephens Inc. AR lifted its position in Otis Worldwide by 2.6% during the 4th quarter. Stephens Inc. AR now owns 5,222 shares of the company’s stock worth $456,000 after buying an additional 132 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OTIS has been the topic of a number of research analyst reports. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Evercore reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a research note on Tuesday. Finally, Sanford C. Bernstein lowered their price target on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $94.09.

Otis Worldwide Stock Down 2.3%

OTIS stock opened at $71.69 on Friday. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $94.57. The company has a market cap of $27.29 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90. The business’s fifty day moving average is $72.09 and its 200-day moving average is $79.43.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Research analysts anticipate that Otis Worldwide Corporation will post 4 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. 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.