London Co. of Virginia Reduces Stock Holdings in Otis Worldwide Corporation $OTIS

Key Points

• London Co. of Virginia cut its Otis Worldwide stake by 39.2% in the first quarter, selling 724,183 shares and leaving it with 1,121,660 shares valued at about $86.5 million.
• Otis reported mixed quarterly results, matching EPS expectations at $1.01 while revenue came in above estimates at $3.86 billion, up 7.3% year over year. The company also set FY 2026 guidance at $4.01-$4.05 EPS.
• The company declared a quarterly dividend of $0.44 per share, equal to an annualized yield of about 2.4%, even as analysts maintain a generally cautious stance with a consensus rating of “Hold.”

London Co. of Virginia lowered its holdings in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 39.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,121,660 shares of the company's stock after selling 724,183 shares during the quarter. London Co. of Virginia owned 0.29% of Otis Worldwide worth $86,458,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its position in Otis Worldwide by 5.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company's stock worth $202,000 after purchasing an additional 123 shares during the period. Boyd Watterson Asset Management LLC OH raised its stake in shares of Otis Worldwide by 4.0% during the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company's stock valued at $281,000 after buying an additional 124 shares during the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Otis Worldwide by 2.7% in the 4th quarter. Moors & Cabot Inc. now owns 4,741 shares of the company's stock valued at $414,000 after buying an additional 126 shares during the period. Composition Wealth LLC lifted its holdings in shares of Otis Worldwide by 4.2% in the 4th quarter. Composition Wealth LLC now owns 3,258 shares of the company's stock valued at $285,000 after buying an additional 131 shares during the period. Finally, Stephens Inc. AR boosted its stake in shares of Otis Worldwide by 2.6% in the fourth quarter. Stephens Inc. AR now owns 5,222 shares of the company's stock worth $456,000 after buying an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 88.03% of the company's stock.

Otis Worldwide Stock Up 1.7%

OTIS stock opened at $71.94 on Friday. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $94.57. The firm has a market cap of $27.61 billion, a P/E ratio of 18.49, a PEG ratio of 2.68 and a beta of 0.90. The company's 50-day simple moving average is $71.95 and its 200-day simple moving average is $79.97.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its quarterly 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 negative return on equity of 28.50% and a net margin of 10.17%.Otis Worldwide's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, analysts anticipate that Otis Worldwide Corporation will post 4 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide's dividend payout ratio (DPR) is presently 45.24%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OTIS. Weiss Ratings lowered Otis Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, May 15th. Evercore reissued an "outperform" rating and issued a $95.00 price target on shares of Otis Worldwide in a report on Thursday. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a research report on Friday, April 24th. Barclays dropped their price objective on shares of Otis Worldwide from $80.00 to $77.00 and set an "underweight" rating on the stock in a research note on Thursday, April 23rd. Finally, Wolfe Research lowered shares of Otis Worldwide from an "outperform" rating to a "peer perform" rating in a report on Wednesday, April 8th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $95.45.

Key Headlines Impacting Otis Worldwide

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

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.

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