PNC Financial Services Group Inc. Has $26.14 Million Stock Holdings in Otis Worldwide Corporation $OTIS

PNC Financial Services Group Inc. trimmed its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 339,177 shares of the company’s stock after selling 12,923 shares during the period. PNC Financial Services Group Inc. owned about 0.09% of Otis Worldwide worth $26,144,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in OTIS. Camelot Portfolios LLC purchased a new position in shares of Otis Worldwide during the fourth quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC bought a new position in Otis Worldwide during the 4th quarter valued at $27,000. Kohmann Bosshard Financial Services LLC bought a new position in Otis Worldwide during the 4th quarter valued at $33,000. Reflection Asset Management purchased a new position in Otis Worldwide during the 4th quarter worth $34,000. Finally, MidFirst Bank purchased a new position in Otis Worldwide during the 4th quarter worth $35,000. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on OTIS shares. Royal Bank Of Canada dropped their price target on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Morgan Stanley set a $88.00 price objective on shares of Otis Worldwide in a research report on Friday, April 24th. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Barclays dropped their target price on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 23rd. Finally, Weiss Ratings downgraded Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and an average target price of $95.45.

Trending Headlines about 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

Otis Worldwide Stock Performance

NYSE OTIS opened at $71.94 on Friday. The company has a market capitalization of $27.61 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 2.64 and a beta of 0.90. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $94.57. The company has a 50-day simple moving average of $71.95 and a 200 day simple moving average of $79.97.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, meeting 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 firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the previous year, the company earned $1.05 earnings per share. The company’s quarterly 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 fiscal year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.44 per share. 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 dividend payout ratio is 45.24%.

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.