Otis Worldwide Corporation $OTIS Shares Sold by Fiera Capital Corp

Fiera Capital Corp cut its stake in Otis Worldwide Corporation (NYSE:OTIS) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,020,052 shares of the company’s stock after selling 124,171 shares during the period. Otis Worldwide makes up about 1.4% of Fiera Capital Corp’s holdings, making the stock its 21st largest holding. Fiera Capital Corp owned approximately 1.29% of Otis Worldwide worth $438,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in OTIS. Norges Bank purchased a new stake in shares of Otis Worldwide in the fourth quarter valued at approximately $770,125,000. Van ECK Associates Corp grew its position in shares of Otis Worldwide by 3,464.3% in the third quarter. Van ECK Associates Corp now owns 2,022,770 shares of the company’s stock valued at $184,942,000 after purchasing an additional 1,966,019 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Otis Worldwide by 125.7% in the third quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company’s stock valued at $236,891,000 after purchasing an additional 1,445,904 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of Otis Worldwide by 199.6% in the third quarter. Squarepoint Ops LLC now owns 2,030,095 shares of the company’s stock valued at $185,612,000 after purchasing an additional 1,352,530 shares in the last quarter. Finally, Independent Franchise Partners LLP purchased a new stake in shares of Otis Worldwide in the third quarter valued at approximately $100,435,000. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on OTIS shares. Weiss Ratings lowered Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Wolfe Research lowered Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. 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. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a research report on Friday, April 24th. Finally, Evercore began coverage on Otis Worldwide in a research report on Monday, April 13th. They issued an “outperform” rating and a $100.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Otis Worldwide presently has a consensus rating of “Hold” and an average price target of $97.64.

Otis Worldwide Stock Up 0.1%

OTIS opened at $70.41 on Monday. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $101.42. The business has a fifty day simple moving average of $75.70 and a 200-day simple moving average of $83.70. The firm has a market cap of $27.02 billion, a P/E ratio of 18.73, a P/E/G ratio of 2.29 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last released 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). Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. The company’s quarterly 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. Sell-side analysts expect that Otis Worldwide Corporation will post 4.2 earnings per share for the current year.

Otis Worldwide Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 15th will be given a dividend of $0.44 per share. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, May 15th. Otis Worldwide’s dividend payout ratio (DPR) is 46.81%.

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.