Railway Pension Investments Ltd Sells 15,200 Shares of Otis Worldwide Corporation $OTIS

Railway Pension Investments Ltd decreased its position in Otis Worldwide Corporation (NYSE:OTIS) by 3.7% during the 2nd quarter, Holdings Channel reports. The firm owned 394,800 shares of the company’s stock after selling 15,200 shares during the quarter. Railway Pension Investments Ltd’s holdings in Otis Worldwide were worth $28,268,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in OTIS. Garton & Associates Financial Advisors LLC bought a new stake in Otis Worldwide during the 4th quarter worth about $27,000. Orion Capital Management LLC acquired a new position in shares of Otis Worldwide during the 2nd quarter worth about $27,000. Reflection Asset Management acquired a new stake in Otis Worldwide in the fourth quarter worth $34,000. MidFirst Bank acquired a new stake in Otis Worldwide during the 4th quarter worth $35,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Otis Worldwide during the 2nd quarter valued at about $28,000. Institutional investors own 88.03% of the company’s stock.

Analyst Ratings Changes

OTIS has been the topic of a number of research analyst reports. Evercore restated an “outperform” rating and set a $95.00 price objective on shares of Otis Worldwide in a report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a research report on Tuesday, July 28th. Sanford C. Bernstein decreased their price objective on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Morgan Stanley set a $75.00 price target on Otis Worldwide in a research report on Monday, August 10th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $92.91.

Otis Worldwide Price Performance

OTIS stock opened at $71.34 on Tuesday. The stock has a market capitalization of $27.16 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 2.53 and a beta of 0.89. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $94.57. The business’s fifty day moving average price is $72.52 and its two-hundred day moving average price is $76.81.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.01. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the business posted $1.05 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Research analysts expect that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Dividend Announcement

The company 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 $0.44 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. Otis Worldwide’s payout ratio is presently 45.24%.

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.