Fundsmith Investment Services LTD. Has $109.32 Million Position in Otis Worldwide Corporation $OTIS

Fundsmith Investment Services LTD. lessened its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 23.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,251,513 shares of the company’s stock after selling 392,590 shares during the period. Otis Worldwide makes up 2.0% of Fundsmith Investment Services LTD.’s portfolio, making the stock its 19th biggest position. Fundsmith Investment Services LTD. owned approximately 0.32% of Otis Worldwide worth $109,320,000 as of its most recent SEC filing.

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

Otis Worldwide Price Performance

Otis Worldwide stock opened at $73.44 on Wednesday. The company has a market cap of $28.18 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 2.34 and a beta of 0.91. The firm has a 50-day moving average of $74.83 and a 200-day moving average of $82.88. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $101.42.

Otis Worldwide (NYSE:OTIS) last released 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 net margin of 10.11% and a negative return on equity of 29.39%. The company had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the firm posted $0.92 EPS. Otis Worldwide’s 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. As a group, sell-side analysts expect that Otis Worldwide Corporation will post 4.2 earnings per share for the current year.

Otis Worldwide Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OTIS shares. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Barclays reduced their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Thursday, April 23rd. Sanford C. Bernstein began coverage on Otis Worldwide in a report on Tuesday, June 9th. They set an “outperform” rating and a $97.00 price objective for the company. Wells Fargo & Company dropped their target price on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 1st. Finally, Evercore started coverage on Otis Worldwide in a research note on Monday, April 13th. They issued an “outperform” rating and a $100.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Otis Worldwide has a consensus rating of “Hold” and an average target price of $97.58.

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.