24,025 Otis Worldwide Corporation $OTIS Shares Acquired by Oppenheimer & Co. Inc.

Key Points

• Oppenheimer & Co. increased its Otis Worldwide stake by 56.2% in the third quarter, acquiring 24,025 additional shares for a total holding of 66,772 shares valued at approximately $4.3 million. Institutional investors and hedge funds own 88.03% of the company.
• Otis reported quarterly earnings of $1.05 per share and revenue of $3.91 billion, exceeding analyst estimates, with revenue up 6.1% year over year. However, margin pressure, weaker China performance and unchanged full-year guidance remain concerns.
• The company declared a quarterly dividend of $0.44 per share, equivalent to $1.76 annually and a 2.4% yield. Analysts remain mixed, with Otis carrying an average “Hold” rating and a consensus price target of $91.20.

Oppenheimer & Co. Inc. boosted its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 56.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,772 shares of the company's stock after purchasing an additional 24,025 shares during the period. Oppenheimer & Co. Inc.'s holdings in Otis Worldwide were worth $4,295,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in OTIS. Turtle Creek Wealth Advisors LLC increased its holdings in Otis Worldwide by 1.9% in the first quarter. Turtle Creek Wealth Advisors LLC now owns 9,086 shares of the company's stock valued at $700,000 after purchasing an additional 169 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Otis Worldwide by 1.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,871 shares of the company's stock worth $1,280,000 after purchasing an additional 169 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of Otis Worldwide by 2.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 7,102 shares of the company's stock worth $547,000 after buying an additional 170 shares in the last quarter. Washington Trust Advisors Inc. boosted its stake in Otis Worldwide by 8.0% during the second quarter. Washington Trust Advisors Inc. now owns 2,567 shares of the company's stock worth $184,000 after acquiring an additional 190 shares in the last quarter. Finally, Eastern Bank grew its holdings in Otis Worldwide by 2.7% in the third quarter. Eastern Bank now owns 7,142 shares of the company's stock worth $459,000 after purchasing an additional 190 shares during the period. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OTIS. Wells Fargo & Company dropped their price target on shares of Otis Worldwide from $77.00 to $75.00 and set an "underweight" rating on the stock in a research report on Thursday. Evercore reissued an "outperform" rating and set a $95.00 price target on shares of Otis Worldwide in a research report on Thursday, July 23rd. Morgan Stanley set a $75.00 target price on shares of Otis Worldwide in a research report on Monday, August 10th. Sanford C. Bernstein boosted their target price on Otis Worldwide from $90.00 to $94.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a research report on Tuesday, July 28th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Otis Worldwide has an average rating of "Hold" and an average price target of $91.20.

Otis Worldwide Stock Up 2.5%

Otis Worldwide stock opened at $74.69 on Friday. The firm has a fifty day simple moving average of $69.60 and a two-hundred day simple moving average of $76.50. Otis Worldwide Corporation has a twelve month low of $63.58 and a twelve month high of $94.57. The company has a market capitalization of $28.43 billion, a PE ratio of 18.58, a P/E/G ratio of 2.56 and a beta of 0.87.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.04. The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.85 billion. Otis Worldwide had a negative return on equity of 28.45% and a net margin of 10.28%. Otis Worldwide's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.05 EPS. As a group, equities analysts expect that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, November 13th. Otis Worldwide's dividend payout ratio is currently 45.24%.

Trending Headlines about Otis Worldwide

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

• Positive Sentiment: Otis reported third-quarter adjusted earnings of $1.05 per share and revenue of approximately $3.9 billion, exceeding analyst estimates. Revenue rose 6% year over year, led by an 8% increase in Service sales and a 10% rise in modernization orders. Otis Reports Third Quarter 2026 Results
• Positive Sentiment: Service operating margin improved 100 basis points sequentially to 24.2%, while the company broadly maintained its full-year 2026 outlook. Otis also reported $337 million in quarterly operating cash flow and $272 million in adjusted free cash flow.
• Positive Sentiment: The board declared a quarterly dividend of $0.44 per share, payable December 11, supporting the company’s shareholder-return appeal. Otis has returned approximately $1.3 billion to shareholders through dividends and share repurchases during the year. Otis Declares Quarterly Dividend
• Neutral Sentiment: BNP Paribas raised its price target to $90 from $86, indicating improved expectations, while Evercore ISI lowered its target to $95 from $100. The divergent revisions suggest analysts see upside but remain cautious about execution.
• Negative Sentiment: Adjusted operating profit declined $6 million despite higher sales, reflecting a margin squeeze in New Equipment. China weakness also offset some of the company’s growth, and full-year adjusted earnings guidance was not increased.
• Negative Sentiment: Wells Fargo lowered its price target to $75 from $77 and retained an “underweight” rating, leaving limited implied upside and highlighting continued concerns about profitability.

Otis Worldwide Company Profile

Otis Worldwide Corporation NYSE: OTIS is a global manufacturer and service provider for the elevator and escalator industry. The company designs, manufactures, installs, modernizes and maintains elevators, escalators and moving walkways for commercial buildings, residential developments, transportation hubs and other infrastructure projects.

Otis provides equipment for new construction as well as maintenance, repair and modernization services for existing systems. Its service operations support equipment from Otis and other manufacturers, helping building owners and operators manage the safety, performance and lifecycle of vertical transportation systems.

The company traces its history to 1853, when Elisha Otis demonstrated a safety device for elevators.

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