Otis Worldwide Corporation $OTIS Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 624,003 shares of the company’s stock after selling 24,864 shares during the quarter. Fisher Asset Management LLC owned about 0.16% of Otis Worldwide worth $54,507,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in Otis Worldwide in the third quarter worth approximately $26,000. Stance Capital LLC acquired a new position in Otis Worldwide in the 3rd quarter worth approximately $27,000. Camelot Portfolios LLC acquired a new position in Otis Worldwide in the 4th quarter worth approximately $26,000. Westside Investment Management Inc. grew its holdings in shares of Otis Worldwide by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 336 shares of the company’s stock valued at $31,000 after acquiring an additional 168 shares in the last quarter. Finally, Physician Wealth Advisors Inc. grew its holdings in shares of Otis Worldwide by 57.7% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 339 shares of the company’s stock valued at $31,000 after acquiring an additional 124 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Evercore initiated coverage on shares of Otis Worldwide in a report on Monday, April 13th. They set an “outperform” rating and a $100.00 price target on the stock. Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. 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. Barclays lowered 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. Finally, JPMorgan Chase & Co. downgraded shares of Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 target price on the stock. in a research report on Friday, January 30th. 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $97.64.

Otis Worldwide Stock Performance

NYSE:OTIS opened at $72.82 on Wednesday. The firm’s 50-day moving average is $77.25 and its 200-day moving average is $84.81. Otis Worldwide Corporation has a 52-week low of $69.72 and a 52-week high of $101.42. The company has a market cap of $27.94 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 2.38 and a beta of 0.95.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share (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 company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. The business’s revenue for the quarter 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. Equities analysts predict that Otis Worldwide Corporation will post 4.19 EPS for the current year.

Otis Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 15th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, May 15th. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. Otis Worldwide’s payout ratio 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.