Pacer Advisors Inc. Decreases Stock Holdings in Otis Worldwide Corporation $OTIS

Pacer Advisors Inc. lowered its position in Otis Worldwide Corporation (NYSE:OTIS) by 36.3% during the first quarter, Holdings Channel reports. The institutional investor owned 19,912 shares of the company’s stock after selling 11,342 shares during the quarter. Pacer Advisors Inc.’s holdings in Otis Worldwide were worth $1,535,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of OTIS. Groupama Asset Managment lifted its position in Otis Worldwide by 245.7% during the first quarter. Groupama Asset Managment now owns 9,848 shares of the company’s stock valued at $759,000 after acquiring an additional 6,999 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in Otis Worldwide in the first quarter worth $9,821,000. GKV Capital Management Co. Inc. purchased a new position in Otis Worldwide in the first quarter worth $173,000. Groupe la Francaise increased its position in shares of Otis Worldwide by 12.1% during the first quarter. Groupe la Francaise now owns 60,411 shares of the company’s stock worth $4,656,000 after purchasing an additional 6,511 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new position in shares of Otis Worldwide during the first quarter worth $961,000. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

NYSE:OTIS opened at $74.01 on Friday. The firm’s fifty day moving average is $72.23 and its two-hundred day moving average is $78.80. The firm has a market cap of $28.17 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 2.62 and a beta of 0.89. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $94.57.

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

Otis Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be paid a $0.44 dividend. 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 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is currently 45.24%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OTIS. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a research report on Friday, April 24th. Evercore reaffirmed an “outperform” rating and set a $95.00 target price on shares of Otis Worldwide in a research report on Thursday, July 23rd. UBS Group set a $105.00 price target on Otis Worldwide in a research note on Thursday, April 23rd. Weiss Ratings lowered Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Finally, Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a report on Tuesday, July 28th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $94.09.

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.