Clean Energy Transition LLP Has $52.03 Million Stake in Otis Worldwide Corporation $OTIS

Clean Energy Transition LLP cut its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 11.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 595,603 shares of the company’s stock after selling 74,066 shares during the period. Otis Worldwide comprises 4.3% of Clean Energy Transition LLP’s portfolio, making the stock its 7th biggest holding. Clean Energy Transition LLP’s holdings in Otis Worldwide were worth $52,026,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of OTIS. Norges Bank bought a new position in shares of Otis Worldwide during the fourth quarter worth about $770,125,000. Van ECK Associates Corp grew its holdings in shares of Otis Worldwide by 97.9% during the fourth quarter. Van ECK Associates Corp now owns 4,002,589 shares of the company’s stock worth $349,626,000 after buying an additional 1,979,819 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Otis Worldwide by 125.7% during the third quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company’s stock worth $236,891,000 after buying an additional 1,445,904 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Otis Worldwide by 199.6% during the third quarter. Squarepoint Ops LLC now owns 2,030,095 shares of the company’s stock worth $185,612,000 after buying an additional 1,352,530 shares in the last quarter. Finally, Independent Franchise Partners LLP bought a new position in shares of Otis Worldwide during the third quarter worth about $100,435,000. 88.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on OTIS shares. Barclays decreased their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. UBS Group set a $105.00 price target on Otis Worldwide in a research report on Thursday, April 23rd. Sanford C. Bernstein initiated coverage on Otis Worldwide in a research report on Tuesday. They set an “outperform” rating and a $97.00 price target for the company. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Finally, Weiss Ratings cut Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $97.58.

Otis Worldwide Stock Performance

Shares of NYSE OTIS opened at $70.77 on Friday. The stock has a 50 day moving average price of $75.04 and a 200 day moving average price of $83.13. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $101.42. The stock has a market capitalization of $27.16 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 2.31 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last issued 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 net margin of 10.11% and a negative return on equity of 29.39%. The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the company posted $0.92 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, research analysts forecast that Otis Worldwide Corporation will post 4.2 EPS for the current 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 $0.44 dividend. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. Otis Worldwide’s payout ratio is 46.81%.

Otis Worldwide Company 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.