Savant Capital LLC Lowers Stake in Otis Worldwide Corporation $OTIS

Savant Capital LLC lessened its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 40.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,661 shares of the company’s stock after selling 13,362 shares during the period. Savant Capital LLC’s holdings in Otis Worldwide were worth $1,717,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Camelot Portfolios LLC purchased a new stake in Otis Worldwide during the fourth quarter valued at about $26,000. Stance Capital LLC purchased a new stake in Otis Worldwide during the third quarter valued at about $27,000. Oakworth Capital Inc. boosted its position in shares of Otis Worldwide by 49.1% in the third quarter. Oakworth Capital Inc. now owns 343 shares of the company’s stock worth $31,000 after buying an additional 113 shares during the period. Physician Wealth Advisors Inc. boosted its position in shares of Otis Worldwide by 57.7% in the third quarter. Physician Wealth Advisors Inc. now owns 339 shares of the company’s stock worth $31,000 after buying an additional 124 shares during the period. Finally, Westside Investment Management Inc. boosted its position in shares of Otis Worldwide by 100.0% in the third quarter. Westside Investment Management Inc. now owns 336 shares of the company’s stock worth $31,000 after buying an additional 168 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

Shares of NYSE OTIS opened at $70.92 on Monday. Otis Worldwide Corporation has a 1-year low of $69.72 and a 1-year high of $101.42. The business has a 50-day moving average of $76.61 and a 200-day moving average of $84.39. The company has a market capitalization of $27.21 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 2.31 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last issued its quarterly 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). Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the company posted $0.92 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Research analysts expect that Otis Worldwide Corporation will post 4.2 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OTIS. Barclays decreased their target price on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Thursday, April 23rd. Morgan Stanley set a $88.00 target price on Otis Worldwide in a research report on Friday, April 24th. UBS Group set a $105.00 target price on Otis Worldwide in a research report on Thursday, April 23rd. Wolfe Research downgraded Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Finally, Weiss Ratings downgraded Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $97.64.

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.