Arrowstreet Capital Limited Partnership Has $93.88 Million Stock Holdings in Otis Worldwide Corporation $OTIS

Arrowstreet Capital Limited Partnership lifted its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 68.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,217,914 shares of the company’s stock after purchasing an additional 493,858 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.32% of Otis Worldwide worth $93,877,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Pinnacle Financial Partners Inc. lifted its holdings in Otis Worldwide by 19.6% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock valued at $7,085,000 after purchasing an additional 12,721 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Otis Worldwide in the fourth quarter valued at $2,046,000. Capital Research Global Investors raised its position in shares of Otis Worldwide by 0.6% in the fourth quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock valued at $248,417,000 after purchasing an additional 18,189 shares during the period. Canoe Financial LP lifted its stake in shares of Otis Worldwide by 15.6% during the 4th quarter. Canoe Financial LP now owns 2,787,870 shares of the company’s stock worth $243,520,000 after buying an additional 375,914 shares during the last quarter. Finally, Coerente Capital Management boosted its holdings in shares of Otis Worldwide by 11.1% during the 4th quarter. Coerente Capital Management now owns 180,066 shares of the company’s stock worth $15,729,000 after buying an additional 18,038 shares during the period. Institutional investors own 88.03% of the company’s stock.

Trending Headlines about 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

Otis Worldwide Stock Performance

NYSE:OTIS opened at $71.94 on Friday. The company has a market cap of $27.61 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 2.68 and a beta of 0.90. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $94.57. The stock has a fifty day moving average price of $71.95 and a 200-day moving average price of $79.97.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations 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 last year, the business earned $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Research analysts predict that Otis Worldwide Corporation will post 4 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The company also recently disclosed 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. This represents a $1.76 dividend on an annualized basis 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 45.24%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OTIS. Sanford C. Bernstein cut their price objective on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday. Royal Bank Of Canada lowered their target price on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Barclays dropped their price target on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Weiss Ratings downgraded Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Finally, Evercore reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Otis Worldwide in a report on Thursday. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Otis Worldwide presently has a consensus rating of “Hold” and a consensus target price of $95.45.

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.