London Co. of Virginia Decreases Holdings in Otis Worldwide Corporation $OTIS

London Co. of Virginia lowered its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 39.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,121,660 shares of the company’s stock after selling 724,183 shares during the period. London Co. of Virginia’s holdings in Otis Worldwide were worth $86,458,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Pinnacle Financial Partners Inc. lifted its stake in shares of Otis Worldwide by 19.6% in the third quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock worth $7,085,000 after buying an additional 12,721 shares in the last quarter. Oak Thistle LLC purchased a new stake in Otis Worldwide during the 4th quarter valued at about $2,046,000. Capital Research Global Investors grew its stake in Otis Worldwide by 0.6% during the 4th quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock valued at $248,417,000 after acquiring an additional 18,189 shares in the last quarter. Canoe Financial LP raised its holdings in Otis Worldwide by 15.6% in the 4th quarter. Canoe Financial LP now owns 2,787,870 shares of the company’s stock valued at $243,520,000 after acquiring an additional 375,914 shares during the last quarter. Finally, Coerente Capital Management raised its holdings in Otis Worldwide by 11.1% in the 4th quarter. Coerente Capital Management now owns 180,066 shares of the company’s stock valued at $15,729,000 after acquiring an additional 18,038 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on OTIS. Wells Fargo & Company decreased their target price on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Wolfe Research lowered Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Evercore reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Otis Worldwide in a report on Thursday. Weiss Ratings downgraded Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Finally, UBS Group set a $105.00 price objective on Otis Worldwide in a research note on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $95.45.

Otis Worldwide Trading Up 1.7%

Otis Worldwide stock opened at $71.94 on Friday. The company has a 50-day moving average price of $71.95 and a 200 day moving average price of $79.97. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $94.57. The stock has a market cap of $27.61 billion, a P/E ratio of 18.49, a PEG ratio of 2.68 and a beta of 0.90.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the business 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. As a group, analysts forecast that Otis Worldwide Corporation will post 4 EPS for the current year.

Otis Worldwide Dividend Announcement

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

Key Stories Impacting Otis Worldwide

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

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.