Clarkston Capital Partners LLC Cuts Holdings in Otis Worldwide Corporation $OTIS

Clarkston Capital Partners LLC cut its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 86.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,530 shares of the company’s stock after selling 125,024 shares during the period. Clarkston Capital Partners LLC’s holdings in Otis Worldwide were worth $1,505,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Sei Investments Co. increased its position in shares of Otis Worldwide by 1.7% during the 1st quarter. Sei Investments Co. now owns 530,407 shares of the company’s stock valued at $40,883,000 after purchasing an additional 9,058 shares during the last quarter. Lido Advisors LLC lifted its position in Otis Worldwide by 62.1% in the first quarter. Lido Advisors LLC now owns 17,363 shares of the company’s stock worth $1,339,000 after buying an additional 6,649 shares during the last quarter. State of Wyoming boosted its stake in Otis Worldwide by 12.0% during the first quarter. State of Wyoming now owns 6,884 shares of the company’s stock worth $531,000 after buying an additional 736 shares during the period. Cetera Investment Advisers boosted its stake in Otis Worldwide by 6.5% during the first quarter. Cetera Investment Advisers now owns 70,682 shares of the company’s stock worth $5,448,000 after buying an additional 4,329 shares during the period. Finally, First Trust Advisors LP increased its position in Otis Worldwide by 16.3% during the first quarter. First Trust Advisors LP now owns 573,249 shares of the company’s stock valued at $44,186,000 after acquiring an additional 80,364 shares during the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Key Otis Worldwide News

Here are the key news stories impacting Otis Worldwide this week:

• Positive Sentiment: Otis beat Q2 estimates, with EPS of $1.01 matching consensus and revenue of $3.86 billion coming in above forecasts. Article Title
• Positive Sentiment: Service sales remained a bright spot, rising 11% in the quarter, while modernization orders increased and backlog grew 24% year over year, supporting longer-term demand visibility. Article Title
• Positive Sentiment: The board declared a quarterly dividend of $0.44 per share, reinforcing shareholder returns. Article Title
• Neutral Sentiment: Otis raised its full-year revenue outlook to about $15.1 billion-$15.3 billion, but management’s new EPS guidance of $4.01-$4.05 was below prior expectations, limiting enthusiasm. Article Title
• Negative Sentiment: The market is reacting to another guidance cut, which points to margin strain and cost pressures even as sales improved. Article Title
• Negative Sentiment: New Equipment weakness and lower adjusted operating profit suggest the turnaround is still incomplete, weighing on investor sentiment. Article Title

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OTIS. UBS Group set a $105.00 target price on shares of Otis Worldwide in a report on Thursday, April 23rd. Royal Bank Of Canada decreased their price objective on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Evercore restated an “outperform” rating and set a $95.00 target price on shares of Otis Worldwide in a research report on Thursday. Sanford C. Bernstein cut their target price on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Morgan Stanley set a $88.00 price target on Otis Worldwide in a research note on Friday, April 24th. Four equities 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $95.45.

Otis Worldwide Price Performance

NYSE:OTIS opened at $70.87 on Friday. Otis Worldwide Corporation has a 1-year low of $69.16 and a 1-year high of $94.57. The company has a 50-day moving average of $71.94 and a 200 day moving average of $80.02. The firm has a market cap of $27.20 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 2.61 and a beta of 0.90.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates 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%.Otis Worldwide’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Sell-side analysts anticipate that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently announced 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 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 46.81%.

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.