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

Fundsmith Investment Services LTD. trimmed its position in Otis Worldwide Corporation (NYSE:OTIS) by 23.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,251,513 shares of the company’s stock after selling 392,590 shares during the quarter. Otis Worldwide makes up 2.0% of Fundsmith Investment Services LTD.’s holdings, making the stock its 19th largest position. Fundsmith Investment Services LTD.’s holdings in Otis Worldwide were worth $109,320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Camelot Portfolios LLC acquired a new position in Otis Worldwide during the fourth quarter worth approximately $26,000. Stance Capital LLC acquired a new stake in shares of Otis Worldwide in the third quarter valued at approximately $27,000. Elevation Wealth Partners LLC acquired a new stake in shares of Otis Worldwide in the fourth quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Otis Worldwide during the 4th quarter worth approximately $33,000. Finally, Board of the Pension Protection Fund acquired a new position in shares of Otis Worldwide during the 4th quarter worth approximately $35,000. Institutional investors own 88.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Barclays cut their price target on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a research note on Friday, April 24th. Weiss Ratings downgraded shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Finally, Sanford C. Bernstein started coverage on shares of Otis Worldwide in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $97.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $97.58.

Otis Worldwide Price Performance

OTIS opened at $73.44 on Wednesday. The business has a fifty day simple moving average of $74.83 and a 200 day simple moving average of $82.88. The company has a market capitalization of $28.18 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $101.42.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The firm had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the business earned $0.92 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Equities analysts anticipate that Otis Worldwide Corporation will post 4.2 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were given a dividend of $0.44 per share. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, May 15th. Otis Worldwide’s payout ratio is 46.81%.

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.