Morningstar Investment Management LLC Sells 11,481 Shares of Otis Worldwide Corporation $OTIS

Morningstar Investment Management LLC lessened its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 36.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,128 shares of the company’s stock after selling 11,481 shares during the period. Morningstar Investment Management LLC’s holdings in Otis Worldwide were worth $1,758,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Root Financial Partners LLC purchased a new stake in Otis Worldwide in the 3rd quarter worth approximately $26,000. Camelot Portfolios LLC purchased a new stake in Otis Worldwide in the 4th quarter worth approximately $26,000. Stance Capital LLC purchased a new stake in Otis Worldwide in the 3rd quarter worth approximately $27,000. Rakuten Investment Management Inc. purchased a new stake in Otis Worldwide in the 3rd quarter worth approximately $31,000. Finally, Oakworth Capital Inc. increased its holdings in Otis Worldwide by 49.1% in the 3rd quarter. Oakworth Capital Inc. now owns 343 shares of the company’s stock worth $31,000 after acquiring an additional 113 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

Shares of OTIS opened at $72.79 on Tuesday. Otis Worldwide Corporation has a 1 year low of $69.72 and a 1 year high of $101.42. The company has a 50 day simple moving average of $77.46 and a two-hundred day simple moving average of $84.94. The firm has a market cap of $27.93 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 2.38 and a beta of 0.95.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data 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 company 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 quarterly revenue was up 6.4% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, sell-side analysts anticipate that Otis Worldwide Corporation will post 4.19 earnings per share for the current year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.44 per share. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. Otis Worldwide’s payout ratio is 46.81%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Evercore assumed coverage on shares of Otis Worldwide in a report on Monday, April 13th. They issued an “outperform” rating and a $100.00 target price for the company. Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a report on Friday, April 24th. Barclays reduced their target price on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Royal Bank Of Canada reduced their target price on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $97.64.

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.