Anchor Capital Advisors LLC Trims Stock Holdings in Otis Worldwide Corporation $OTIS

Anchor Capital Advisors LLC lowered its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 3.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 543,862 shares of the company’s stock after selling 18,135 shares during the quarter. Otis Worldwide comprises about 1.4% of Anchor Capital Advisors LLC’s portfolio, making the stock its 25th largest position. Anchor Capital Advisors LLC owned about 0.14% of Otis Worldwide worth $47,506,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of OTIS. Stance Capital LLC acquired a new position in Otis Worldwide during the third quarter valued at $27,000. Camelot Portfolios LLC purchased a new position in Otis Worldwide during the fourth quarter valued at approximately $26,000. Westside Investment Management Inc. lifted its holdings in Otis Worldwide by 100.0% in the third quarter. Westside Investment Management Inc. now owns 336 shares of the company’s stock valued at $31,000 after acquiring an additional 168 shares during the period. Physician Wealth Advisors Inc. lifted its stake in shares of Otis Worldwide by 57.7% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 339 shares of the company’s stock valued at $31,000 after purchasing an additional 124 shares during the period. Finally, Elevation Wealth Partners LLC purchased a new stake in shares of Otis Worldwide during the 4th quarter worth about $32,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Evercore started coverage on Otis Worldwide in a research report on Monday, April 13th. They set an “outperform” rating and a $100.00 price target on the stock. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a research note on Friday, April 24th. Barclays reduced their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Thursday, April 23rd. Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Finally, UBS Group set a $105.00 price objective on Otis Worldwide in a research report on Thursday, April 23rd. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $97.64.

Otis Worldwide Price Performance

Shares of OTIS opened at $70.23 on Wednesday. The firm has a 50-day simple moving average of $76.39 and a two-hundred day simple moving average of $84.25. The stock has a market cap of $26.95 billion, a PE ratio of 18.68, a P/E/G ratio of 2.26 and a beta of 0.91. Otis Worldwide Corporation has a 1-year low of $69.16 and a 1-year high of $101.42.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data 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 company had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. The business’s 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. As a group, sell-side analysts expect that Otis Worldwide Corporation will post 4.2 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, May 15th. Otis Worldwide’s payout ratio is currently 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.