Landscape Capital Management L.L.C. Takes $2.17 Million Position in Otis Worldwide Corporation $OTIS

Landscape Capital Management L.L.C. bought a new stake in Otis Worldwide Corporation (NYSE:OTIS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 24,875 shares of the company’s stock, valued at approximately $2,173,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in OTIS. State Street Corp grew its stake in Otis Worldwide by 0.8% in the fourth quarter. State Street Corp now owns 16,128,197 shares of the company’s stock valued at $1,408,798,000 after acquiring an additional 121,207 shares during the period. Geode Capital Management LLC grew its stake in Otis Worldwide by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 10,788,225 shares of the company’s stock valued at $945,020,000 after acquiring an additional 29,636 shares during the period. Norges Bank acquired a new position in Otis Worldwide in the fourth quarter valued at about $770,125,000. Franklin Resources Inc. grew its stake in Otis Worldwide by 5.7% in the fourth quarter. Franklin Resources Inc. now owns 7,842,153 shares of the company’s stock valued at $685,012,000 after acquiring an additional 422,519 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Otis Worldwide by 3.1% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,778,152 shares of the company’s stock valued at $436,866,000 after acquiring an additional 145,817 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OTIS. Wells Fargo & Company decreased their target price on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Royal Bank Of Canada cut their price target on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. UBS Group set a $105.00 price target on Otis Worldwide in a report on Thursday, April 23rd. Finally, Barclays cut their price target on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $97.58.

Otis Worldwide Stock Performance

OTIS opened at $70.77 on Monday. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $101.42. The firm has a market capitalization of $27.16 billion, a PE ratio of 18.82, a PEG ratio of 2.31 and a beta of 0.91. The business’s 50-day simple moving average is $75.04 and its 200 day simple moving average is $83.10.

Otis Worldwide (NYSE:OTIS) last released its earnings results 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 company posted $0.92 EPS. The business’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, research analysts forecast that Otis Worldwide Corporation will post 4.2 earnings per share for the current year.

Otis Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, May 15th. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 2.5%. Otis Worldwide’s dividend payout ratio is currently 46.81%.

About Otis Worldwide

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.