Sarasin & Partners LLP Decreases Holdings in Otis Worldwide Corporation $OTIS

Sarasin & Partners LLP trimmed its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 94.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,891 shares of the company’s stock after selling 516,392 shares during the period. Sarasin & Partners LLP’s holdings in Otis Worldwide were worth $2,140,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. DMKC Advisory Services LLC boosted its stake in shares of Otis Worldwide by 24.6% during the second quarter. DMKC Advisory Services LLC now owns 38,387 shares of the company’s stock valued at $2,748,000 after purchasing an additional 7,591 shares during the period. Arlington Partners LLC increased its stake in shares of Otis Worldwide by 16.0% in the second quarter. Arlington Partners LLC now owns 3,539 shares of the company’s stock worth $253,000 after buying an additional 487 shares during the period. Canandaigua National Bank & Trust Co. bought a new stake in Otis Worldwide during the 2nd quarter valued at $2,625,000. Bangor Savings Bank boosted its position in Otis Worldwide by 44.3% during the 2nd quarter. Bangor Savings Bank now owns 1,589 shares of the company’s stock valued at $114,000 after buying an additional 488 shares during the period. Finally, Versant Capital Management Inc boosted its position in Otis Worldwide by 177.6% during the 2nd quarter. Versant Capital Management Inc now owns 4,752 shares of the company’s stock valued at $340,000 after buying an additional 3,040 shares during the period. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Otis Worldwide Price Performance

OTIS stock opened at $73.78 on Friday. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The firm has a 50-day moving average of $72.17 and a 200 day moving average of $78.84. The company has a market cap of $28.09 billion, a P/E ratio of 18.97, a PEG ratio of 2.59 and a beta of 0.89.

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

Otis Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, August 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. Otis Worldwide’s payout ratio is currently 45.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OTIS shares. Evercore reissued an “outperform” rating and issued a $95.00 price target on shares of Otis Worldwide in a report on Thursday, July 23rd. Barclays reduced their target price on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research note on Thursday, April 23rd. Sanford C. Bernstein decreased their target price on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 price target on Otis Worldwide in a research note on Tuesday, July 28th. Finally, Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a report on Friday, April 24th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $94.09.

About Otis Worldwide

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.