Clarkston Capital Partners LLC Trims Holdings in Otis Worldwide Corporation $OTIS

Clarkston Capital Partners LLC trimmed its stake in Otis Worldwide Corporation (NYSE:OTIS) by 8.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 144,554 shares of the company’s stock after selling 13,144 shares during the period. Clarkston Capital Partners LLC’s holdings in Otis Worldwide were worth $12,627,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Camelot Portfolios LLC purchased a new stake in shares of Otis Worldwide in the 4th quarter valued at approximately $26,000. Stance Capital LLC purchased a new stake in shares of Otis Worldwide in the 3rd quarter valued at approximately $27,000. Elevation Wealth Partners LLC purchased a new stake in shares of Otis Worldwide in the 4th quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Otis Worldwide in the 4th quarter valued at approximately $33,000. Finally, Board of the Pension Protection Fund purchased a new stake in shares of Otis Worldwide in the 4th quarter valued at approximately $35,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Stock Performance

Shares of OTIS stock opened at $70.77 on Friday. The stock has a market capitalization of $27.16 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 2.29 and a beta of 0.91. The company has a 50 day moving average price of $75.04 and a 200 day moving average price of $83.13. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $101.42.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. 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, research analysts forecast 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 was paid on Friday, June 12th. Investors of record on Friday, May 15th were issued a $0.44 dividend. 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. The ex-dividend date was Friday, May 15th. Otis Worldwide’s dividend payout ratio (DPR) is presently 46.81%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OTIS. Barclays reduced their price target on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research note on Thursday, April 23rd. Wells Fargo & Company reduced their price target on shares of 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. Weiss Ratings downgraded shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Evercore began coverage on shares of Otis Worldwide in a research note on Monday, April 13th. They issued an “outperform” rating and a $100.00 price target on the stock. Finally, Royal Bank Of Canada reduced 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 note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $97.58.

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.