London Co. of Virginia Decreases Stock Holdings in Otis Worldwide Corporation $OTIS

London Co. of Virginia reduced its position in Otis Worldwide Corporation (NYSE:OTIS) by 6.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,845,843 shares of the company’s stock after selling 125,007 shares during the quarter. London Co. of Virginia owned approximately 0.47% of Otis Worldwide worth $161,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of OTIS. Camelot Portfolios LLC purchased a new stake in Otis Worldwide in the fourth quarter worth $26,000. Stance Capital LLC purchased a new stake in Otis Worldwide in the third quarter worth $27,000. Elevation Wealth Partners LLC purchased a new stake in Otis Worldwide in the fourth quarter worth $32,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Otis Worldwide in the fourth quarter worth $33,000. Finally, Board of the Pension Protection Fund purchased a new stake in Otis Worldwide in the fourth quarter worth $35,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Stock Up 2.3%

Otis Worldwide stock opened at $73.44 on Wednesday. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $101.42. The business has a 50-day simple moving average of $74.83 and a 200 day simple moving average of $82.88. The stock has a market cap of $28.18 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 2.34 and a beta of 0.91.

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

Otis Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were given a dividend of $0.44 per share. The ex-dividend date was Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is presently 46.81%.

Analysts Set New Price Targets

A number of analysts have issued reports on OTIS shares. Wolfe Research downgraded Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. 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. UBS Group set a $105.00 target price on Otis Worldwide 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. Finally, Wells Fargo & Company decreased their target price on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 1st. One research 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Otis Worldwide currently 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.