Sarasin & Partners LLP Reduces Stock Holdings in Otis Worldwide Corporation $OTIS

Sarasin & Partners LLP trimmed its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 94.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,891 shares of the company’s stock after selling 516,392 shares during the period. Sarasin & Partners LLP’s holdings in Otis Worldwide were worth $2,140,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. DMKC Advisory Services LLC lifted its position in shares of Otis Worldwide by 24.6% during the 2nd quarter. DMKC Advisory Services LLC now owns 38,387 shares of the company’s stock valued at $2,748,000 after buying an additional 7,591 shares during the last quarter. Arlington Partners LLC raised its stake in Otis Worldwide by 16.0% in the 2nd quarter. Arlington Partners LLC now owns 3,539 shares of the company’s stock valued at $253,000 after acquiring an additional 487 shares during the period. Canandaigua National Bank & Trust Co. bought a new stake in Otis Worldwide in the 2nd quarter valued at about $2,625,000. Bangor Savings Bank lifted its holdings in Otis Worldwide by 44.3% during the second quarter. Bangor Savings Bank now owns 1,589 shares of the company’s stock valued at $114,000 after purchasing an additional 488 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Otis Worldwide by 177.6% during the second quarter. Versant Capital Management Inc now owns 4,752 shares of the company’s stock valued at $340,000 after purchasing an additional 3,040 shares during the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Trading Up 0.9%

Shares of NYSE:OTIS opened at $73.78 on Friday. The company has a 50 day moving average of $72.17 and a 200 day moving average of $78.84. The stock has a market cap of $28.09 billion, a P/E ratio of 18.97, a P/E/G ratio of 2.59 and a beta of 0.89. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $94.57.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. Otis Worldwide’s revenue was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities analysts forecast that Otis Worldwide Corporation will post 4 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, August 14th. Otis Worldwide’s dividend payout ratio (DPR) is 45.24%.

Analyst Ratings Changes

A number of equities analysts have weighed in on OTIS shares. Barclays cut their target price on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Thursday, April 23rd. Evercore restated an “outperform” rating and set a $95.00 target price on shares of Otis Worldwide in a research report on Thursday, July 23rd. Sanford C. Bernstein cut their price target on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Morgan Stanley set a $88.00 price target on Otis Worldwide in a research report on Friday, April 24th. Finally, Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a research note on Tuesday, July 28th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Otis Worldwide has a consensus rating of “Hold” and a consensus price target of $94.09.

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.