California Public Employees Retirement System Trims Position in Otis Worldwide Corporation $OTIS

California Public Employees Retirement System lowered its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 1.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 691,400 shares of the company’s stock after selling 13,473 shares during the period. California Public Employees Retirement System owned approximately 0.18% of Otis Worldwide worth $53,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of OTIS. Jones Financial Companies Lllp boosted its position in Otis Worldwide by 3.4% in the 1st quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock valued at $949,000 after buying an additional 304 shares during the period. Empowered Funds LLC raised its holdings in shares of Otis Worldwide by 10.5% in the 1st quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock valued at $928,000 after purchasing an additional 857 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Otis Worldwide by 63.7% during the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock worth $417,000 after purchasing an additional 1,574 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Otis Worldwide by 7.1% in the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock valued at $3,193,000 after buying an additional 2,132 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in Otis Worldwide by 13.3% in the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock valued at $1,012,000 after buying an additional 1,196 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Trading Up 0.1%

Shares of OTIS opened at $73.55 on Tuesday. The stock’s 50 day moving average is $72.08 and its two-hundred day moving average is $80.38. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $101.14. The firm has a market capitalization of $28.22 billion, a PE ratio of 19.56, a P/E/G ratio of 2.64 and a beta of 0.90.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. Otis Worldwide’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, sell-side analysts predict that Otis Worldwide Corporation will post 4.16 EPS for the current year.

Wall Street Analyst Weigh In

OTIS has been the subject of a number of recent analyst reports. Barclays decreased their price target on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Royal Bank Of Canada cut their target price on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. UBS Group set a $105.00 price target on Otis Worldwide in a report on Thursday, April 23rd. Finally, Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $96.55.

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.