Otis Worldwide Corporation $OTIS Stake Decreased by Rathbones Group PLC

Rathbones Group PLC lessened its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 11.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 391,191 shares of the company’s stock after selling 50,839 shares during the quarter. Rathbones Group PLC’s holdings in Otis Worldwide were worth $34,171,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Lazard Freres Gestion S.A.S. raised its holdings in shares of Otis Worldwide by 21.9% during the fourth quarter. Lazard Freres Gestion S.A.S. now owns 1,309,160 shares of the company’s stock valued at $114,355,000 after buying an additional 235,316 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Otis Worldwide by 1,158.7% during the fourth quarter. IFP Advisors Inc now owns 22,404 shares of the company’s stock valued at $1,957,000 after buying an additional 20,624 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Otis Worldwide during the fourth quarter valued at approximately $1,224,000. Larson Financial Group LLC raised its holdings in shares of Otis Worldwide by 15.3% during the fourth quarter. Larson Financial Group LLC now owns 8,713 shares of the company’s stock valued at $761,000 after buying an additional 1,154 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Otis Worldwide by 6.0% during the fourth quarter. ProShare Advisors LLC now owns 84,758 shares of the company’s stock valued at $7,404,000 after buying an additional 4,830 shares during the last quarter. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

NYSE OTIS opened at $71.24 on Thursday. Otis Worldwide Corporation has a 12 month low of $69.72 and a 12 month high of $101.42. The firm has a market capitalization of $27.34 billion, a PE ratio of 18.95, a P/E/G ratio of 2.32 and a beta of 0.95. The company’s 50 day simple moving average is $78.18 and its 200 day simple moving average is $85.33.

Otis Worldwide (NYSE:OTIS) last posted 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 company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business earned $0.92 EPS. Otis Worldwide’s 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. Sell-side analysts anticipate that Otis Worldwide Corporation will post 4.19 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently declared 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. This represents a $1.76 annualized dividend and a yield of 2.5%. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, May 15th. Otis Worldwide’s dividend payout ratio (DPR) is presently 46.81%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OTIS. UBS Group set a $105.00 price target on Otis Worldwide in a report on Thursday, April 23rd. Weiss Ratings cut Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a 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. Wells Fargo & Company lowered their price objective 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. Finally, Evercore assumed coverage on shares of Otis Worldwide in a research note on Monday, April 13th. They set an “outperform” rating and a $100.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Otis Worldwide has a consensus rating of “Hold” and a consensus target price of $97.64.

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.