Otis Worldwide Corporation $OTIS Shares Sold by Fiera Capital Corp

Fiera Capital Corp reduced its stake in Otis Worldwide Corporation (NYSE:OTIS) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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’s holdings in Otis Worldwide were worth $438,502,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. CIBC Private Wealth Group LLC raised its stake in shares of Otis Worldwide by 54.0% in the third quarter. CIBC Private Wealth Group LLC now owns 2,890,482 shares of the company’s stock valued at $264,277,000 after acquiring an additional 1,013,876 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Otis Worldwide by 12,345.2% in the fourth quarter. SG Americas Securities LLC now owns 499,177 shares of the company’s stock valued at $43,603,000 after acquiring an additional 495,166 shares in the last quarter. Pinnacle Financial Partners Inc. raised its stake in shares of Otis Worldwide by 19.6% in the third 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 in the last quarter. Caprock Group LLC acquired a new stake in shares of Otis Worldwide in the third quarter valued at $982,000. Finally, Canoe Financial LP raised its stake in shares of Otis Worldwide by 15.6% in the fourth quarter. Canoe Financial LP now owns 2,787,870 shares of the company’s stock valued at $243,520,000 after acquiring an additional 375,914 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Price Performance

Otis Worldwide stock opened at $70.41 on Monday. Otis Worldwide Corporation has a 1-year low of $69.16 and a 1-year high of $101.42. The stock has a market cap of $27.02 billion, a PE ratio of 18.73, a P/E/G ratio of 2.29 and a beta of 0.91. The stock’s fifty day moving average is $75.70 and its two-hundred day moving average is $83.70.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. The firm’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. On average, research analysts expect that Otis Worldwide Corporation will post 4.2 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently announced 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 represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, May 15th. Otis Worldwide’s payout ratio is presently 46.81%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on OTIS shares. Barclays reduced their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research note on Thursday, April 23rd. Morgan Stanley set a $88.00 price target on Otis Worldwide in a research note on Friday, April 24th. Wells Fargo & Company cut their price target 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. Evercore initiated coverage on Otis Worldwide in a research note on Monday, April 13th. They issued an “outperform” rating and a $100.00 price target on the stock. Finally, UBS Group set a $105.00 price target on Otis Worldwide in a research note on Thursday, April 23rd. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $97.64.

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.