Regents Gate Capital LLP Invests $13.52 Million in Otis Worldwide Corporation $OTIS

Regents Gate Capital LLP acquired a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 175,425 shares of the company’s stock, valued at approximately $13,522,000. Otis Worldwide makes up about 2.9% of Regents Gate Capital LLP’s investment portfolio, making the stock its 17th largest holding.

Several other large investors have also bought and sold shares of the business. State Street Corp grew its position in Otis Worldwide by 0.8% in the fourth quarter. State Street Corp now owns 16,128,197 shares of the company’s stock valued at $1,408,798,000 after acquiring an additional 121,207 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Otis Worldwide by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 10,788,225 shares of the company’s stock worth $945,020,000 after acquiring an additional 29,636 shares during the last quarter. Norges Bank acquired a new stake in shares of Otis Worldwide in the 4th quarter valued at approximately $770,125,000. Franklin Resources Inc. boosted its stake in shares of Otis Worldwide by 5.7% in the 4th quarter. Franklin Resources Inc. now owns 7,842,153 shares of the company’s stock valued at $685,012,000 after purchasing an additional 422,519 shares in the last quarter. Finally, PineStone Asset Management Inc. grew its holdings in shares of Otis Worldwide by 3.6% during the 4th quarter. PineStone Asset Management Inc. now owns 4,679,997 shares of the company’s stock valued at $408,798,000 after purchasing an additional 163,476 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Price Performance

Otis Worldwide stock opened at $73.50 on Friday. The business has a 50 day moving average of $72.09 and a 200-day moving average of $80.53. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $101.14. The company has a market capitalization of $28.20 billion, a P/E ratio of 19.55, a P/E/G ratio of 2.64 and a beta of 0.90.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, April 22nd. The company reported $0.89 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 for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Equities analysts anticipate that Otis Worldwide Corporation will post 4.16 EPS for the current year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 15th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. Otis Worldwide’s payout ratio is 46.81%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on OTIS shares. Sanford C. Bernstein started coverage on shares of Otis Worldwide in a research report on Tuesday, June 9th. They set an “outperform” rating and a $97.00 price objective for the company. Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a research report on Friday, April 24th. Wells Fargo & Company decreased their target price 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. Evercore started coverage on shares of Otis Worldwide in a report on Monday, April 13th. They set an “outperform” rating and a $100.00 price target for the company. Finally, Barclays dropped their price target on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Otis Worldwide has an average rating of “Hold” and a consensus price target of $96.55.

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.