Arrowstreet Capital Limited Partnership Has $93.88 Million Holdings in Otis Worldwide Corporation $OTIS

Arrowstreet Capital Limited Partnership raised its position in Otis Worldwide Corporation (NYSE:OTIS) by 68.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,217,914 shares of the company’s stock after purchasing an additional 493,858 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Otis Worldwide were worth $93,877,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Pinnacle Financial Partners Inc. raised its holdings in Otis Worldwide by 19.6% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock valued at $7,085,000 after buying an additional 12,721 shares during the last quarter. Oak Thistle LLC bought a new stake in Otis Worldwide during the 4th quarter worth approximately $2,046,000. Capital Research Global Investors increased its position in Otis Worldwide by 0.6% in the 4th quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock valued at $248,417,000 after acquiring an additional 18,189 shares during the period. Canoe Financial LP increased its position in Otis Worldwide by 15.6% in the 4th quarter. Canoe Financial LP now owns 2,787,870 shares of the company’s stock valued at $243,520,000 after acquiring an additional 375,914 shares during the period. Finally, Coerente Capital Management raised its stake in shares of Otis Worldwide by 11.1% during the fourth quarter. Coerente Capital Management now owns 180,066 shares of the company’s stock valued at $15,729,000 after acquiring an additional 18,038 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Stock Up 1.7%

NYSE:OTIS opened at $71.94 on Friday. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $94.57. The company has a fifty day moving average of $71.95 and a 200-day moving average of $79.97. The firm has a market capitalization of $27.61 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.68 and a beta of 0.90.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period last year, the company posted $1.05 earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, analysts anticipate that Otis Worldwide Corporation will post 4 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 annualized dividend and a yield of 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is presently 45.24%.

Analyst Ratings Changes

A number of research firms recently weighed in on OTIS. Wells Fargo & Company decreased their price objective on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. Sanford C. Bernstein reduced their price target on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday. Royal Bank Of Canada decreased their price target on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Barclays lowered their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Thursday, April 23rd. Finally, UBS Group set a $105.00 price objective on Otis Worldwide in a research note on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $95.45.

Trending Headlines about Otis Worldwide

Here are the key news stories impacting Otis Worldwide this week:

• Positive Sentiment: Otis’ service segment remains the main growth driver, with modernization up 24% and maintenance trends accelerating, while backlog and order momentum in the Americas support the longer-term outlook. Otis Worldwide: Don’t Expect Meaningful Upside Near-Term, But I Remain Bullish
• Positive Sentiment: Otis declared a quarterly dividend of $0.44 per share, reinforcing its cash-return profile for income-focused investors. Otis Declares Quarterly Dividend of $0.44 per Share
• Neutral Sentiment: The stock is trading below recent historical valuation levels after a sizable year-to-date decline, which may interest value investors but does not change the near-term operating challenges. Is Otis Stock Attractive After Guidance Cuts and Its 19% YTD Slide?
• Neutral Sentiment: Analysts continue to rate Otis as a “Hold,” reflecting a balanced view between steady service growth and weaker equipment demand. Otis Worldwide Corporation (NYSE:OTIS) Given Consensus Rating of “Hold” by Analysts
• Negative Sentiment: Recent earnings commentary points to contracting margins, weaker New Equipment demand, and continued drag from China, which is why investors are focusing on the guidance cut rather than the revenue beat. Otis Worldwide: Strong Service Growth Still Needs To Show Margin Expansion

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.