London Co. of Virginia Sells 125,007 Shares of Otis Worldwide Corporation $OTIS

London Co. of Virginia lowered its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,845,843 shares of the company’s stock after selling 125,007 shares during the period. London Co. of Virginia’s holdings in Otis Worldwide were worth $161,235,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. &PARTNERS lifted its stake in Otis Worldwide by 39.4% during the fourth quarter. &PARTNERS now owns 9,025 shares of the company’s stock worth $788,000 after purchasing an additional 2,549 shares during the last quarter. ExodusPoint Capital Management LP lifted its stake in Otis Worldwide by 40.9% during the fourth quarter. ExodusPoint Capital Management LP now owns 718,853 shares of the company’s stock worth $62,792,000 after purchasing an additional 208,755 shares during the last quarter. Fullerton Fund Management Co Ltd. bought a new stake in Otis Worldwide during the fourth quarter worth about $234,000. Graham Capital Management L.P. bought a new stake in Otis Worldwide during the fourth quarter worth about $811,000. Finally, Rothschild Wealth LLC bought a new stake in Otis Worldwide during the fourth quarter worth about $271,000. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

Shares of NYSE:OTIS opened at $73.44 on Wednesday. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $101.42. The company has a market cap of $28.18 billion, a PE ratio of 19.53, a P/E/G ratio of 2.34 and a beta of 0.91. The stock’s 50-day moving average is $74.83 and its 200 day moving average is $82.88.

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 analysts’ consensus estimates of $0.91 by ($0.02). Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Analysts expect that Otis Worldwide Corporation will post 4.2 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 15th were issued a dividend of $0.44 per share. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is currently 46.81%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OTIS. Weiss Ratings lowered Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Evercore began coverage on Otis Worldwide in a research note on Monday, April 13th. They set an “outperform” rating and a $100.00 price target for the company. UBS Group set a $105.00 price target on Otis Worldwide in a research note on Thursday, April 23rd. Sanford C. Bernstein assumed coverage on Otis Worldwide in a research note on Tuesday, June 9th. They set an “outperform” rating and a $97.00 price target for the company. Finally, Barclays decreased their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $97.58.

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.