Clean Energy Transition LLP Has $52.03 Million Stake in Otis Worldwide Corporation $OTIS

Clean Energy Transition LLP lessened its stake in Otis Worldwide Corporation (NYSE:OTIS) by 11.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 595,603 shares of the company’s stock after selling 74,066 shares during the quarter. Otis Worldwide comprises about 4.3% of Clean Energy Transition LLP’s investment portfolio, making the stock its 7th largest holding. Clean Energy Transition LLP owned about 0.15% of Otis Worldwide worth $52,026,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OTIS. Camelot Portfolios LLC bought a new stake in Otis Worldwide in the fourth quarter valued at about $26,000. Stance Capital LLC bought a new stake in Otis Worldwide in the third quarter valued at about $27,000. Elevation Wealth Partners LLC bought a new stake in Otis Worldwide in the fourth quarter valued at about $32,000. Kohmann Bosshard Financial Services LLC bought a new stake in Otis Worldwide in the fourth quarter valued at about $33,000. Finally, Board of the Pension Protection Fund bought a new stake in Otis Worldwide in the fourth quarter valued at about $35,000. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

Shares of Otis Worldwide stock opened at $70.77 on Friday. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $101.42. The business has a 50-day moving average of $75.04 and a two-hundred day moving average of $83.13. The company has a market capitalization of $27.16 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 2.31 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the company earned $0.92 earnings per share. The firm’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. On average, equities analysts anticipate that Otis Worldwide Corporation will post 4.2 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 15th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, May 15th. Otis Worldwide’s dividend payout ratio is currently 46.81%.

Wall Street Analyst Weigh In

A number of research firms recently commented on OTIS. Barclays dropped their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Wells Fargo & Company dropped their price objective on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. Sanford C. Bernstein began coverage on Otis Worldwide in a report on Tuesday. They issued an “outperform” rating and a $97.00 price objective for the company. UBS Group set a $105.00 price objective on Otis Worldwide in a report on Thursday, April 23rd. Finally, Wolfe Research downgraded Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $97.58.

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.