20,308 Shares in Otis Worldwide Corporation $OTIS Purchased by Oppenheimer Asset Management Inc.

Key Points

• Oppenheimer Asset Management purchased 20,308 shares of Otis Worldwide worth approximately $1.45 million, while institutional investors and hedge funds collectively own 88.03% of the company.
• Analysts maintain a consensus “Hold” rating, with an average price target of $92.91. Recent target reductions include Bernstein to $90 and Barclays to $77.
• Otis reported quarterly revenue of $3.86 billion, up 7.3% year over year, and earnings of $1.01 per share. The company declared a quarterly dividend of $0.44 per share, representing a 2.4% annualized yield.

Oppenheimer Asset Management Inc. purchased a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 20,308 shares of the company's stock, valued at approximately $1,454,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its holdings in shares of Otis Worldwide by 3.4% in the 1st quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company's stock worth $949,000 after acquiring an additional 304 shares in the last quarter. Empowered Funds LLC increased its holdings in Otis Worldwide by 10.5% during the 1st quarter. Empowered Funds LLC now owns 8,988 shares of the company's stock valued at $928,000 after purchasing an additional 857 shares in the last quarter. Acadian Asset Management LLC raised its position in Otis Worldwide by 63.7% in the 1st quarter. Acadian Asset Management LLC now owns 4,045 shares of the company's stock valued at $417,000 after purchasing an additional 1,574 shares during the last quarter. Baird Financial Group Inc. raised its position in Otis Worldwide by 7.1% in the 2nd quarter. Baird Financial Group Inc. now owns 32,245 shares of the company's stock valued at $3,193,000 after purchasing an additional 2,132 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Otis Worldwide by 13.3% in the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company's stock worth $1,012,000 after purchasing an additional 1,196 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on OTIS shares. Sanford C. Bernstein decreased their target price on Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. UBS Group set a $105.00 price target on Otis Worldwide in a report on Thursday, April 23rd. Barclays reduced their price target on shares of Otis Worldwide from $80.00 to $77.00 and set an "underweight" rating on the stock in a research report on Thursday, April 23rd. Weiss Ratings reissued a "hold (c-)" rating on shares of Otis Worldwide in a report on Wednesday. Finally, Morgan Stanley set a $75.00 price objective on shares of Otis Worldwide in a research report on Monday, August 10th. Four equities 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $92.91.

Otis Worldwide Stock Performance

Shares of OTIS opened at $72.61 on Monday. The business's fifty day moving average price is $72.54 and its two-hundred day moving average price is $78.13. The firm has a market capitalization of $27.64 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 2.56 and a beta of 0.89. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $94.57.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released 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. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The firm's quarterly revenue was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, research analysts forecast that Otis Worldwide Corporation will post 4.03 EPS for the current 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 given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, August 14th. Otis Worldwide's dividend payout ratio (DPR) is presently 45.24%.

Otis Worldwide News Summary

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

• Positive Sentiment: Despite the cuts, Zacks Research still projects earnings growth from approximately $4.04 per share in fiscal 2026 to $4.41 in fiscal 2027 and $4.89 in fiscal 2028. The fiscal 2026 estimate is also slightly above the broader consensus of $4.03 per share. Otis Worldwide analyst estimates
• Neutral Sentiment: An MSN page provides updated analyst estimates and ratings for Otis Worldwide, but the supplied information does not specify individual analyst recommendations or price targets. Otis Worldwide stock: Analyst estimates and ratings
• Negative Sentiment: Zacks lowered its fiscal 2026 EPS forecast to $4.04 from $4.22, fiscal 2027 to $4.41 from $4.67, and fiscal 2028 to $4.89 from $5.23. These reductions point to weaker expected profitability than previously forecast.
• Negative Sentiment: Quarterly estimates were also reduced: Q3 2026 EPS fell to $1.01 from $1.14, Q4 2026 to $1.13 from $1.18, and Q1 2027 to $1.02 from $1.05. Additional cuts affected Q2 and Q3 2027, Q4 2027, and the first two quarters of 2028.

Otis Worldwide 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.

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