Natixis Advisors LLC Reduces Holdings in Otis Worldwide Corporation $OTIS

Natixis Advisors LLC trimmed its stake in Otis Worldwide Corporation (NYSE:OTIS) by 11.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 332,179 shares of the company’s stock after selling 44,242 shares during the period. Natixis Advisors LLC’s holdings in Otis Worldwide were worth $29,016,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. AXQ Capital LP purchased a new position in shares of Otis Worldwide in the 4th quarter valued at $1,592,000. BNP Paribas grew its position in shares of Otis Worldwide by 5.6% in the 4th quarter. BNP Paribas now owns 53,108 shares of the company’s stock valued at $4,650,000 after buying an additional 2,832 shares during the last quarter. Peapack Gladstone Financial Corp grew its position in shares of Otis Worldwide by 1.8% in the 4th quarter. Peapack Gladstone Financial Corp now owns 107,489 shares of the company’s stock valued at $9,389,000 after buying an additional 1,909 shares during the last quarter. Rothschild Wealth LLC purchased a new position in shares of Otis Worldwide in the 4th quarter valued at $271,000. Finally, Founders Financial Securities LLC grew its position in shares of Otis Worldwide by 5.0% in the 4th quarter. Founders Financial Securities LLC now owns 3,130 shares of the company’s stock valued at $273,000 after buying an additional 148 shares during the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. 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. Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a research report on Friday, April 24th. Weiss Ratings downgraded shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Finally, Evercore initiated coverage on shares of Otis Worldwide in a research report on Monday, April 13th. They set an “outperform” rating and a $100.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $97.64.

Otis Worldwide Stock Performance

OTIS stock opened at $69.84 on Friday. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $101.42. The stock has a market capitalization of $26.80 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 2.28 and a beta of 0.91. The company has a fifty day moving average of $75.86 and a 200-day moving average of $83.82.

Otis Worldwide (NYSE:OTIS) last released 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 firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the business posted $0.92 EPS. The firm’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. Equities analysts forecast that Otis Worldwide Corporation will post 4.2 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 15th will be paid a $0.44 dividend. 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 annualized dividend and a dividend yield of 2.5%. Otis Worldwide’s dividend payout ratio (DPR) is 46.81%.

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.