Los Angeles Capital Management LLC Sells 114,164 Shares of Otis Worldwide Corporation $OTIS

Los Angeles Capital Management LLC cut its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 67.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,495 shares of the company’s stock after selling 114,164 shares during the period. Los Angeles Capital Management LLC’s holdings in Otis Worldwide were worth $5,133,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in OTIS. Camelot Portfolios LLC bought a new position in shares of Otis Worldwide in the 4th quarter worth $26,000. Stance Capital LLC bought a new position in shares of Otis Worldwide in the 3rd quarter worth $27,000. Elevation Wealth Partners LLC bought a new position in shares of Otis Worldwide in the 4th quarter worth $32,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Otis Worldwide in the 4th quarter worth $33,000. Finally, Board of the Pension Protection Fund bought a new position in shares of Otis Worldwide in the 4th quarter worth $35,000. 88.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on OTIS shares. UBS Group set a $105.00 price target on Otis Worldwide in a research report on Thursday, April 23rd. Barclays reduced their price target on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Thursday, April 23rd. 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 research note on Friday, May 15th. Finally, Morgan Stanley set a $88.00 target price on Otis Worldwide in a research note on Friday, April 24th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Otis Worldwide has a consensus rating of “Hold” and an average target price of $97.64.

Otis Worldwide Stock Performance

Otis Worldwide stock opened at $69.57 on Tuesday. The business’s 50-day simple moving average is $75.54 and its two-hundred day simple moving average is $83.57. The company has a market cap of $26.69 billion, a PE ratio of 18.50, a PEG ratio of 2.29 and a beta of 0.91. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $101.42.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The company had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the company earned $0.92 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, analysts predict that Otis Worldwide Corporation will post 4.2 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 15th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s payout ratio is currently 46.81%.

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.