Independent Franchise Partners LLP Has $92.95 Million Holdings in Otis Worldwide Corporation $OTIS

Independent Franchise Partners LLP cut its position in Otis Worldwide Corporation (NYSE:OTIS) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,064,149 shares of the company’s stock after selling 34,347 shares during the quarter. Otis Worldwide makes up about 0.6% of Independent Franchise Partners LLP’s holdings, making the stock its 27th biggest position. Independent Franchise Partners LLP’s holdings in Otis Worldwide were worth $92,953,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Investment Management Corp of Ontario grew its stake in Otis Worldwide by 58.6% in the 4th quarter. Investment Management Corp of Ontario now owns 29,392 shares of the company’s stock valued at $2,567,000 after buying an additional 10,860 shares during the last quarter. Janus Henderson Group PLC grew its stake in Otis Worldwide by 1.4% in the 4th quarter. Janus Henderson Group PLC now owns 55,161 shares of the company’s stock valued at $4,819,000 after buying an additional 770 shares during the last quarter. Gotham Asset Management LLC grew its stake in Otis Worldwide by 75.0% in the 4th quarter. Gotham Asset Management LLC now owns 155,797 shares of the company’s stock valued at $13,609,000 after buying an additional 66,775 shares during the last quarter. Evolve Private Wealth LLC acquired a new position in Otis Worldwide in the 4th quarter valued at $401,000. Finally, Engineers Gate Manager LP grew its stake in Otis Worldwide by 654.2% in the 4th quarter. Engineers Gate Manager LP now owns 727,362 shares of the company’s stock valued at $63,535,000 after buying an additional 630,915 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OTIS has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their target price 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. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a research report on Friday, April 24th. Evercore began coverage on shares of Otis Worldwide in a research report on Monday, April 13th. They issued an “outperform” rating and a $100.00 price target on the stock. Finally, Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $97.58.

Otis Worldwide Stock Performance

Shares of Otis Worldwide stock opened at $72.75 on Thursday. The firm’s 50-day simple moving average is $74.72 and its 200-day simple moving average is $82.77. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $101.42. The firm has a market cap of $27.91 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 2.40 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the firm posted $0.92 earnings per share. Otis Worldwide’s revenue was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, equities analysts forecast that Otis Worldwide Corporation will post 4.2 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

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

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.