Los Angeles Capital Management LLC Sells 114,164 Shares of Otis Worldwide Corporation $OTIS

Los Angeles Capital Management LLC decreased its position in Otis Worldwide Corporation (NYSE:OTIS) by 67.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,495 shares of the company’s stock after selling 114,164 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Otis Worldwide were worth $5,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in Otis Worldwide by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 10,788,225 shares of the company’s stock valued at $945,020,000 after purchasing an additional 29,636 shares during the last quarter. Norges Bank bought a new position in Otis Worldwide in the fourth quarter worth $770,125,000. Franklin Resources Inc. raised its holdings in Otis Worldwide by 4.5% in the third quarter. Franklin Resources Inc. now owns 7,419,634 shares of the company’s stock worth $678,377,000 after purchasing an additional 322,255 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Otis Worldwide by 3.1% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,778,152 shares of the company’s stock worth $436,866,000 after purchasing an additional 145,817 shares in the last quarter. Finally, PineStone Asset Management Inc. raised its holdings in Otis Worldwide by 3.6% in the fourth quarter. PineStone Asset Management Inc. now owns 4,679,997 shares of the company’s stock worth $408,798,000 after purchasing an additional 163,476 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

NYSE OTIS opened at $69.57 on Tuesday. The stock has a market capitalization of $26.69 billion, a PE ratio of 18.50, a P/E/G ratio of 2.29 and a beta of 0.91. The business has a 50 day simple moving average of $75.54 and a two-hundred day simple moving average of $83.57. Otis Worldwide Corporation has a 1-year low of $69.16 and a 1-year high of $101.42.

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

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 15th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s dividend payout ratio is 46.81%.

Wall Street Analysts Forecast Growth

OTIS has been the topic of a number of recent research reports. UBS Group set a $105.00 target price on Otis Worldwide in a research note on Thursday, April 23rd. Barclays lowered their target price on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 23rd. Wolfe Research downgraded Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a research note on Friday, April 24th. Finally, Wells Fargo & Company decreased their price objective on 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. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Otis Worldwide currently has a consensus rating of “Hold” and an average price target of $97.64.

Otis Worldwide 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.