Otis Worldwide Corporation $OTIS Shares Sold by Savant Capital LLC

Savant Capital LLC lessened its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 40.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 19,661 shares of the company’s stock after selling 13,362 shares during the period. Savant Capital LLC’s holdings in Otis Worldwide were worth $1,717,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of OTIS. Van ECK Associates Corp grew its stake in Otis Worldwide by 3,464.3% during the 3rd quarter. Van ECK Associates Corp now owns 2,022,770 shares of the company’s stock valued at $184,942,000 after purchasing an additional 1,966,019 shares in the last quarter. AQR Capital Management LLC raised its stake in Otis Worldwide by 125.7% during the third quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company’s stock valued at $236,891,000 after buying an additional 1,445,904 shares in the last quarter. Squarepoint Ops LLC raised its stake in Otis Worldwide by 199.6% during the third quarter. Squarepoint Ops LLC now owns 2,030,095 shares of the company’s stock valued at $185,612,000 after buying an additional 1,352,530 shares in the last quarter. Independent Franchise Partners LLP acquired a new stake in Otis Worldwide during the third quarter valued at approximately $100,435,000. Finally, CIBC Private Wealth Group LLC raised its stake in Otis Worldwide by 54.0% during the third quarter. CIBC Private Wealth Group LLC now owns 2,890,482 shares of the company’s stock valued at $264,277,000 after buying an additional 1,013,876 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Up 0.1%

Shares of NYSE OTIS opened at $70.92 on Monday. The stock’s 50 day moving average price is $76.61 and its two-hundred day moving average price is $84.39. Otis Worldwide Corporation has a 52-week low of $69.72 and a 52-week high of $101.42. The stock has a market capitalization of $27.21 billion, a P/E ratio of 18.86, a PEG 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 for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The company had revenue of $3.57 billion for 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 firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, analysts anticipate that Otis Worldwide Corporation will post 4.2 EPS for the current year.

Otis Worldwide Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 15th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s payout ratio is currently 46.81%.

Wall Street Analyst Weigh In

Several analysts have issued reports on OTIS shares. Barclays cut their price objective 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. Weiss Ratings cut Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. UBS Group set a $105.00 price objective on Otis Worldwide in a research note on Thursday, April 23rd. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Finally, Wells Fargo & Company cut their price objective on 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. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $97.64.

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.