Regents Gate Capital LLP Invests $13.52 Million in Otis Worldwide Corporation $OTIS

Key Points

• Regents Gate Capital LLP initiated a new position in Otis Worldwide, buying 175,425 shares valued at about $13.52 million. The stake represents 2.9% of its portfolio and is its 17th largest holding.
• Otis Worldwide also saw mixed analyst activity, with several firms cutting ratings or price targets. The stock’s current consensus from MarketBeat is a Hold, with an average price target of $96.55.
• The company reported Q1 earnings below expectations, posting $0.89 EPS on $3.57 billion in revenue, while the stock traded down about 2% to $73.50. Otis also recently raised its quarterly dividend to $0.44 per share, implying a 2.4% yield.

Regents Gate Capital LLP bought a new stake in Otis Worldwide Corporation (NYSE:OTIS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 175,425 shares of the company's stock, valued at approximately $13,522,000. Otis Worldwide comprises 2.9% of Regents Gate Capital LLP's investment portfolio, making the stock its 17th biggest position.

A number of other large investors also recently made changes to their positions in the company. Camelot Portfolios LLC acquired a new position in Otis Worldwide in the 4th quarter valued at $26,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Otis Worldwide in the fourth quarter valued at about $27,000. Elevation Wealth Partners LLC acquired a new position in shares of Otis Worldwide in the fourth quarter valued at about $32,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Otis Worldwide in the fourth quarter valued at about $33,000. Finally, Reflection Asset Management bought a new position in Otis Worldwide during the fourth quarter worth about $34,000. Institutional investors own 88.03% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on OTIS. Wolfe Research cut shares of Otis Worldwide from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, April 8th. Wells Fargo & Company decreased their target price on shares of Otis Worldwide from $92.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 1st. Royal Bank Of Canada lowered their target price on shares of Otis Worldwide from $110.00 to $105.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. Weiss Ratings downgraded shares of Otis Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, May 15th. Finally, Barclays cut their price target on Otis Worldwide from $80.00 to $77.00 and set an "underweight" rating for the company in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Otis Worldwide currently has an average rating of "Hold" and a consensus price target of $96.55.

Otis Worldwide Stock Down 2.0%

OTIS opened at $73.50 on Friday. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $101.14. The company has a 50-day simple moving average of $72.09 and a 200 day simple moving average of $80.53. The stock has a market capitalization of $28.20 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 2.64 and a beta of 0.90.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.02). The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.77 billion. Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The company's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Sell-side analysts anticipate that Otis Worldwide Corporation will post 4.16 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were given a dividend of $0.44 per share. The ex-dividend date was Friday, May 15th. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. This is a positive change from Otis Worldwide's previous quarterly dividend of $0.42. Otis Worldwide's dividend payout ratio (DPR) is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.