Copeland Capital Management LLC Has $1.07 Million Stock Holdings in Otis Worldwide Corporation $OTIS

Copeland Capital Management LLC cut its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,781 shares of the company’s stock after selling 376 shares during the quarter. Copeland Capital Management LLC’s holdings in Otis Worldwide were worth $1,068,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Simon Quick Advisors LLC acquired a new stake in Otis Worldwide during the first quarter worth about $443,000. SG Americas Securities LLC acquired a new stake in Otis Worldwide during the first quarter worth about $2,533,000. Quintet Private Bank Europe S.A. grew its position in Otis Worldwide by 3.4% during the first quarter. Quintet Private Bank Europe S.A. now owns 289,936 shares of the company’s stock worth $29,921,000 after buying an additional 9,467 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Otis Worldwide by 362.4% during the first quarter. Assenagon Asset Management S.A. now owns 438,896 shares of the company’s stock worth $45,294,000 after purchasing an additional 343,987 shares during the period. Finally, Kingswood Wealth Advisors LLC acquired a new stake in Otis Worldwide during the first quarter valued at approximately $225,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Price Performance

Shares of OTIS opened at $91.57 on Friday. The company has a market capitalization of $35.94 billion, a P/E ratio of 24.23, a PEG ratio of 4.44 and a beta of 1.00. Otis Worldwide Corporation has a one year low of $84.25 and a one year high of $106.83. The business’s 50 day simple moving average is $88.13 and its 200-day simple moving average is $94.15.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.02. Otis Worldwide had a net margin of 10.68% and a negative return on equity of 30.95%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the previous year, the company posted $1.06 EPS. Otis Worldwide’s revenue was down .2% on a year-over-year basis. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. On average, sell-side analysts anticipate that Otis Worldwide Corporation will post 4.04 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, August 15th. Otis Worldwide’s payout ratio is 44.44%.

Analyst Upgrades and Downgrades

OTIS has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Otis Worldwide from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Morgan Stanley lifted their price objective on Otis Worldwide from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday, July 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Otis Worldwide in a report on Saturday, September 27th. Zacks Research downgraded Otis Worldwide from a “hold” rating to a “strong sell” rating in a report on Monday, September 15th. Finally, Wolfe Research raised Otis Worldwide from an “underperform” rating to a “peer perform” rating in a report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Otis Worldwide has an average rating of “Hold” and an average target price of $103.00.

About Otis Worldwide

Otis Worldwide Corporation engages in manufacturing, installation, and servicing of elevators and escalators in the United States, China, and internationally. The company operates in two segments, New Equipment and Service. The New Equipment segment designs, manufactures, sells, and installs a range of passenger and freight elevators, as well as escalators and moving walkways for residential and commercial buildings, and infrastructure projects.