Franklin Resources Inc. Grows Stock Holdings in Otis Worldwide Corporation $OTIS

Franklin Resources Inc. lifted its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,842,153 shares of the company’s stock after purchasing an additional 422,519 shares during the period. Franklin Resources Inc. owned 2.02% of Otis Worldwide worth $685,012,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Stance Capital LLC purchased a new position in Otis Worldwide during the 3rd quarter valued at about $27,000. Camelot Portfolios LLC bought a new stake in shares of Otis Worldwide in the 4th quarter worth approximately $26,000. Elevation Wealth Partners LLC purchased a new position in shares of Otis Worldwide during the fourth quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Otis Worldwide during the fourth quarter valued at approximately $33,000. Finally, Board of the Pension Protection Fund bought a new position in shares of Otis Worldwide during the fourth quarter valued at approximately $35,000. 88.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on OTIS. Royal Bank Of Canada cut their price target on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Barclays cut their target price on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research note on Thursday, April 23rd. UBS Group set a $105.00 price target on shares of Otis Worldwide in a research report on Thursday, April 23rd. Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Finally, Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Otis Worldwide presently has a consensus rating of “Hold” and a consensus target price of $97.64.

Otis Worldwide Trading Down 1.1%

Shares of OTIS stock opened at $69.57 on Tuesday. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $101.42. The stock has a market cap of $26.69 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 2.29 and a beta of 0.91. The company’s fifty day moving average price is $75.54 and its 200-day moving average price is $83.57.

Otis Worldwide (NYSE:OTIS) last issued 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 period last year, the business earned $0.92 earnings per share. The company’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. On average, sell-side analysts forecast that Otis Worldwide Corporation will post 4.2 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

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

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.