Otis Worldwide Corporation $OTIS Shares Sold by Rathbones Group PLC

Rathbones Group PLC reduced its stake in Otis Worldwide Corporation (NYSE:OTIS) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 391,191 shares of the company’s stock after selling 50,839 shares during the period. Rathbones Group PLC owned approximately 0.10% of Otis Worldwide worth $34,171,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in OTIS. Root Financial Partners LLC acquired a new stake in shares of Otis Worldwide during the third quarter valued at about $26,000. Camelot Portfolios LLC acquired a new stake in shares of Otis Worldwide during the fourth quarter valued at about $26,000. Stance Capital LLC acquired a new stake in shares of Otis Worldwide during the third quarter valued at about $27,000. Rakuten Investment Management Inc. acquired a new stake in shares of Otis Worldwide during the third quarter valued at about $31,000. Finally, Oakworth Capital Inc. grew its stake in shares of Otis Worldwide by 49.1% during the third quarter. Oakworth Capital Inc. now owns 343 shares of the company’s stock valued at $31,000 after acquiring an additional 113 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Stock Up 0.4%

Shares of NYSE OTIS opened at $71.24 on Thursday. The firm’s 50-day moving average price is $78.18 and its two-hundred day moving average price is $85.33. 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 $27.34 billion, a P/E ratio of 18.95, a P/E/G ratio of 2.32 and a beta of 0.95.

Otis Worldwide (NYSE:OTIS) last issued its 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 negative return on equity of 29.39% and a net margin of 10.11%.The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the business earned $0.92 EPS. The business’s 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. As a group, equities research analysts expect that Otis Worldwide Corporation will post 4.19 earnings per share for the current year.

Otis Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be issued a $0.44 dividend. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, May 15th. Otis Worldwide’s dividend payout ratio is 46.81%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. downgraded Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 target price for the company. in a research note on Friday, January 30th. Barclays lowered their target price 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. Wolfe Research downgraded Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Weiss Ratings downgraded Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Finally, Evercore assumed coverage on Otis Worldwide in a research note on Monday, April 13th. They set an “outperform” rating and a $100.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $97.64.

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.