Otis Worldwide Corporation $OTIS Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP lessened its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 40.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,363 shares of the company’s stock after selling 11,713 shares during the quarter. Aigen Investment Management LP’s holdings in Otis Worldwide were worth $1,517,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in OTIS. Camelot Portfolios LLC acquired a new position in shares of Otis Worldwide during the 4th quarter worth $26,000. Stance Capital LLC acquired a new position in Otis Worldwide in the 3rd quarter valued at about $27,000. Elevation Wealth Partners LLC acquired a new position in Otis Worldwide in the 4th quarter valued at about $32,000. Kohmann Bosshard Financial Services LLC acquired a new position in Otis Worldwide in the 4th quarter valued at about $33,000. Finally, Board of the Pension Protection Fund acquired a new position in Otis Worldwide in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Price Performance

OTIS opened at $70.77 on Friday. The stock has a market capitalization of $27.16 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 2.31 and a beta of 0.91. The business has a 50-day moving average of $75.04 and a two-hundred day moving average of $83.13. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $101.42.

Otis Worldwide (NYSE:OTIS) last posted its quarterly 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). The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Equities 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 declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 15th were issued a $0.44 dividend. This is a positive change 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 yield of 2.5%. Otis Worldwide’s dividend payout ratio (DPR) is presently 46.81%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on OTIS shares. Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a research note on Friday, April 24th. Royal Bank Of Canada cut their target price on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Weiss Ratings downgraded shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Barclays cut their target price on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Thursday, April 23rd. Finally, Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.