Sei Investments Co. Raises Stock Holdings in Otis Worldwide Corporation $OTIS

Sei Investments Co. raised its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 530,407 shares of the company’s stock after purchasing an additional 9,058 shares during the quarter. Sei Investments Co. owned 0.14% of Otis Worldwide worth $40,883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pinnacle Financial Partners Inc. grew 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 worth $7,085,000 after acquiring an additional 12,721 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of Otis Worldwide in the 4th quarter valued at about $2,046,000. Capital Research Global Investors lifted its position in shares of Otis Worldwide by 0.6% during 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 last quarter. Canoe Financial LP lifted its position in shares of Otis Worldwide by 15.6% during the fourth quarter. Canoe Financial LP now owns 2,787,870 shares of the company’s stock worth $243,520,000 after purchasing an additional 375,914 shares during the last quarter. Finally, Coerente Capital Management grew its stake in Otis Worldwide by 11.1% in the fourth quarter. Coerente Capital Management now owns 180,066 shares of the company’s stock worth $15,729,000 after purchasing an additional 18,038 shares in the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on OTIS shares. Wells Fargo & Company cut their price objective on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Wolfe Research lowered Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Weiss Ratings downgraded Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Sanford C. Bernstein dropped 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. Finally, Royal Bank Of Canada reduced their price objective on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Otis Worldwide currently has a consensus rating of “Hold” and a consensus target price of $95.45.

Otis Worldwide Stock Up 0.0%

Shares of NYSE OTIS opened at $71.94 on Monday. The firm’s 50-day moving average price is $71.95 and its two-hundred day moving average price is $79.90. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $94.57. The stock has a market capitalization of $27.39 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.58 and a beta of 0.90.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. The company had revenue of $3.86 billion during 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 was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, equities research analysts expect that Otis Worldwide Corporation will post 4 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, August 14th. Otis Worldwide’s dividend payout ratio is presently 45.24%.

Otis Worldwide News Summary

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

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.