Landscape Capital Management L.L.C. Acquires Shares of 7,372 Otis Worldwide Corporation $OTIS

Landscape Capital Management L.L.C. bought a new stake in Otis Worldwide Corporation (NYSE:OTIS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,372 shares of the company’s stock, valued at approximately $528,000.

Several other institutional investors have also recently made changes to their positions in OTIS. Pinnacle Financial Partners Inc. boosted its holdings in Otis Worldwide by 19.6% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock valued at $7,085,000 after acquiring an additional 12,721 shares during the period. Capital Research Global Investors increased its stake in Otis Worldwide by 0.6% in the fourth quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock worth $248,417,000 after purchasing an additional 18,189 shares during the period. Lazard Freres Gestion S.A.S. increased its stake in Otis Worldwide by 21.9% in the fourth quarter. Lazard Freres Gestion S.A.S. now owns 1,309,160 shares of the company’s stock worth $114,355,000 after purchasing an additional 235,316 shares during the period. Banco Santander S.A. lifted its position in shares of Otis Worldwide by 1,153.2% during the second quarter. Banco Santander S.A. now owns 106,257 shares of the company’s stock worth $7,608,000 after purchasing an additional 97,778 shares during the last quarter. Finally, Danske Bank A S lifted its position in shares of Otis Worldwide by 13.3% during the fourth quarter. Danske Bank A S now owns 225,994 shares of the company’s stock worth $19,741,000 after purchasing an additional 26,500 shares during the last quarter. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Trading Up 0.2%

Shares of OTIS stock opened at $71.65 on Monday. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $94.57. The stock has a fifty day simple moving average of $72.64 and a two-hundred day simple moving average of $77.56. The stock has a market capitalization of $27.28 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 2.52 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Research analysts predict that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. Otis Worldwide’s dividend payout ratio (DPR) is 45.24%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Evercore reissued an “outperform” rating and set a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Sanford C. Bernstein reduced their price target on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Morgan Stanley set a $75.00 price objective on shares of Otis Worldwide in a research report on Monday, August 10th. Finally, Royal Bank Of Canada set a $90.00 target price on shares of Otis Worldwide in a research note on Tuesday, July 28th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $92.91.

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.