Fisher Asset Management LLC Sells 24,864 Shares of Otis Worldwide Corporation $OTIS

Fisher Asset Management LLC trimmed its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 3.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 624,003 shares of the company’s stock after selling 24,864 shares during the quarter. Fisher Asset Management LLC’s holdings in Otis Worldwide were worth $54,507,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in Otis Worldwide during the third quarter worth about $26,000. Stance Capital LLC acquired a new position in Otis Worldwide in the third quarter valued at approximately $27,000. Camelot Portfolios LLC acquired a new position in Otis Worldwide in the fourth quarter valued at approximately $26,000. Westside Investment Management Inc. lifted its holdings in Otis Worldwide by 100.0% in the third quarter. Westside Investment Management Inc. now owns 336 shares of the company’s stock valued at $31,000 after buying an additional 168 shares during the period. Finally, Physician Wealth Advisors Inc. lifted its holdings in Otis Worldwide by 57.7% in the third quarter. Physician Wealth Advisors Inc. now owns 339 shares of the company’s stock valued at $31,000 after buying an additional 124 shares during the period. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Stock Performance

OTIS opened at $72.82 on Wednesday. The firm’s fifty day moving average is $77.25 and its two-hundred day moving average is $84.81. The firm has a market cap of $27.94 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 2.38 and a beta of 0.95. Otis Worldwide Corporation has a twelve month low of $69.72 and a twelve month high of $101.42.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Equities analysts forecast that Otis Worldwide Corporation will post 4.19 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 15th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is 46.81%.

Analyst Ratings Changes

Several brokerages recently weighed in on OTIS. Wells Fargo & Company cut 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 report on Wednesday, April 1st. Weiss Ratings lowered shares of 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 report on Wednesday, April 8th. Royal Bank Of Canada cut their target price on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Finally, UBS Group set a $105.00 target price on shares of Otis Worldwide in a report on Thursday, April 23rd. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $97.64.

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.