Otis Worldwide Corporation $OTIS Stock Position Trimmed by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 21.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,254 shares of the company’s stock after selling 8,408 shares during the period. Pacer Advisors Inc.’s holdings in Otis Worldwide were worth $2,730,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Camelot Portfolios LLC acquired a new position in shares of Otis Worldwide during the fourth quarter worth approximately $26,000. Stance Capital LLC bought a new position in Otis Worldwide in the 3rd quarter worth approximately $27,000. Garton & Associates Financial Advisors LLC acquired a new stake in Otis Worldwide in the 4th quarter valued at approximately $27,000. Elevation Wealth Partners LLC acquired a new stake in Otis Worldwide in the 4th quarter valued at approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Otis Worldwide during the 4th quarter valued at $33,000. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

OTIS opened at $71.88 on Wednesday. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $101.42. The stock’s fifty day moving average is $74.17 and its 200-day moving average is $82.34. The company has a market capitalization of $27.58 billion, a PE ratio of 19.12, a P/E/G ratio of 2.36 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, equities research analysts forecast that Otis Worldwide Corporation will post 4.2 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 15th were given a dividend of $0.44 per share. 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 dividend yield of 2.4%. Otis Worldwide’s payout ratio is 46.81%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays decreased their price target 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. Morgan Stanley set a $88.00 price objective on shares of Otis Worldwide in a report on Friday, April 24th. Royal Bank Of Canada lowered their target price on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. UBS Group set a $105.00 price target on shares of Otis Worldwide in a research report on Thursday, April 23rd. Finally, Sanford C. Bernstein initiated coverage on shares of Otis Worldwide in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $97.00 price target for the company. One 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $97.58.

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.