Renaissance Technologies LLC Increases Holdings in Otis Worldwide Corporation $OTIS

Renaissance Technologies LLC increased its position in Otis Worldwide Corporation (NYSE:OTIS) by 30.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,691,200 shares of the company’s stock after acquiring an additional 394,600 shares during the period. Renaissance Technologies LLC’s holdings in Otis Worldwide were worth $130,358,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Camelot Portfolios LLC purchased a new stake in Otis Worldwide during the fourth quarter worth $26,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Otis Worldwide in the fourth quarter valued at $27,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Otis Worldwide during the 4th quarter worth $33,000. Reflection Asset Management purchased a new stake in shares of Otis Worldwide in the 4th quarter worth about $34,000. Finally, MidFirst Bank purchased a new stake in shares of Otis Worldwide in the 4th quarter worth about $35,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide News Summary

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

• Positive Sentiment: Otis’ service segment remains the main growth driver, with modernization up 24% and maintenance trends accelerating, while backlog and order momentum in the Americas support the longer-term outlook. Otis Worldwide: Don’t Expect Meaningful Upside Near-Term, But I Remain Bullish
• Positive Sentiment: Otis declared a quarterly dividend of $0.44 per share, reinforcing its cash-return profile for income-focused investors. Otis Declares Quarterly Dividend of $0.44 per Share
• Neutral Sentiment: The stock is trading below recent historical valuation levels after a sizable year-to-date decline, which may interest value investors but does not change the near-term operating challenges. Is Otis Stock Attractive After Guidance Cuts and Its 19% YTD Slide?
• Neutral Sentiment: Analysts continue to rate Otis as a “Hold,” reflecting a balanced view between steady service growth and weaker equipment demand. Otis Worldwide Corporation (NYSE:OTIS) Given Consensus Rating of “Hold” by Analysts
• Negative Sentiment: Recent earnings commentary points to contracting margins, weaker New Equipment demand, and continued drag from China, which is why investors are focusing on the guidance cut rather than the revenue beat. Otis Worldwide: Strong Service Growth Still Needs To Show Margin Expansion

Otis Worldwide Trading Up 1.7%

NYSE:OTIS opened at $71.94 on Friday. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $94.57. The firm has a market cap of $27.61 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 2.64 and a beta of 0.90. The company’s 50-day moving average is $71.95 and its two-hundred day moving average is $79.97.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. The business 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%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities research analysts forecast that Otis Worldwide Corporation will post 4 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s payout ratio is presently 45.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Royal Bank Of Canada dropped 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. Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Barclays cut 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. UBS Group set a $105.00 target price on Otis Worldwide in a research note on Thursday, April 23rd. Finally, Sanford C. Bernstein lowered their target price on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday. Four research 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. Based on data from MarketBeat, Otis Worldwide presently has a consensus rating of “Hold” and a consensus target price of $95.45.

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.