Otis Worldwide Corporation $OTIS Shares Sold by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC lessened its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 86.5% in the 1st quarter, HoldingsChannel reports. The firm owned 19,530 shares of the company’s stock after selling 125,024 shares during the quarter. Clarkston Capital Partners LLC’s holdings in Otis Worldwide were worth $1,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OTIS. Sei Investments Co. boosted its holdings in Otis Worldwide by 1.7% in the first quarter. Sei Investments Co. now owns 530,407 shares of the company’s stock valued at $40,883,000 after purchasing an additional 9,058 shares during the last quarter. Lido Advisors LLC grew its position in Otis Worldwide by 62.1% during the 1st quarter. Lido Advisors LLC now owns 17,363 shares of the company’s stock worth $1,339,000 after purchasing an additional 6,649 shares during the period. State of Wyoming raised its stake in shares of Otis Worldwide by 12.0% during the 1st quarter. State of Wyoming now owns 6,884 shares of the company’s stock valued at $531,000 after buying an additional 736 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Otis Worldwide by 6.5% during the 1st quarter. Cetera Investment Advisers now owns 70,682 shares of the company’s stock valued at $5,448,000 after buying an additional 4,329 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Otis Worldwide by 16.3% in the 1st quarter. First Trust Advisors LP now owns 573,249 shares of the company’s stock valued at $44,186,000 after buying an additional 80,364 shares during the period. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Key Otis Worldwide News

Here are the key news stories impacting Otis Worldwide this week:

• Positive Sentiment: Otis beat Q2 estimates, with EPS of $1.01 matching consensus and revenue of $3.86 billion coming in above forecasts. Article Title
• Positive Sentiment: Service sales remained a bright spot, rising 11% in the quarter, while modernization orders increased and backlog grew 24% year over year, supporting longer-term demand visibility. Article Title
• Positive Sentiment: The board declared a quarterly dividend of $0.44 per share, reinforcing shareholder returns. Article Title
• Neutral Sentiment: Otis raised its full-year revenue outlook to about $15.1 billion-$15.3 billion, but management’s new EPS guidance of $4.01-$4.05 was below prior expectations, limiting enthusiasm. Article Title
• Negative Sentiment: The market is reacting to another guidance cut, which points to margin strain and cost pressures even as sales improved. Article Title
• Negative Sentiment: New Equipment weakness and lower adjusted operating profit suggest the turnaround is still incomplete, weighing on investor sentiment. Article Title

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. UBS Group set a $105.00 target price on Otis Worldwide in a research note on Thursday, April 23rd. Wolfe Research downgraded Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Royal Bank Of Canada lowered their price objective on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Weiss Ratings cut shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Finally, Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a report on Friday, April 24th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $95.45.

Otis Worldwide Stock Up 0.7%

Otis Worldwide stock opened at $70.87 on Friday. The company has a fifty day simple moving average of $71.94 and a 200-day simple moving average of $80.02. The firm has a market capitalization of $27.20 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.61 and a beta of 0.90. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $94.57.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. Otis Worldwide’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, research analysts anticipate that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, August 14th. Otis Worldwide’s payout ratio is currently 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.