Otis Worldwide Corporation $OTIS Shares Sold by Rathbones Group PLC

Rathbones Group PLC lowered its position in Otis Worldwide Corporation (NYSE:OTIS) by 9.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 356,023 shares of the company’s stock after selling 35,168 shares during the period. Rathbones Group PLC’s holdings in Otis Worldwide were worth $27,442,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Groupama Asset Managment raised its position in Otis Worldwide by 245.7% during the 1st quarter. Groupama Asset Managment now owns 9,848 shares of the company’s stock worth $759,000 after buying an additional 6,999 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Otis Worldwide in the 1st quarter valued at $9,821,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Otis Worldwide in the 1st quarter valued at $173,000. Groupe la Francaise increased its stake in shares of Otis Worldwide by 12.1% in the first quarter. Groupe la Francaise now owns 60,411 shares of the company’s stock worth $4,656,000 after acquiring an additional 6,511 shares during the period. Finally, Western Wealth Management LLC acquired a new stake in shares of Otis Worldwide in the first quarter worth $961,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

OTIS stock opened at $71.98 on Monday. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $94.57. The firm’s fifty day moving average is $72.08 and its 200 day moving average is $79.31. The firm has a market cap of $27.40 billion, a PE ratio of 18.50, a P/E/G ratio of 2.55 and a beta of 0.90.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm posted $1.05 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Research analysts predict that Otis Worldwide Corporation will post 4 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

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

Wall Street Analyst Weigh In

OTIS has been the subject of a number of research reports. Barclays decreased their target price on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Thursday, April 23rd. Weiss Ratings downgraded Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a research note on Tuesday, July 28th. Morgan Stanley set a $88.00 target price on Otis Worldwide in a research note on Friday, April 24th. Finally, Sanford C. Bernstein reduced their price target on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $94.09.

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.