Alberta Investment Management Corp Buys New Shares in Otis Worldwide Corporation $OTIS

Key Points

• Alberta Investment Management Corp. initiated a position in Otis Worldwide, purchasing 64,200 shares valued at approximately $4.6 million. Institutional investors collectively own 88.03% of the company.
• Otis reported quarterly revenue of $3.86 billion, up 7.3% year over year, and earnings of $1.01 per share, matching analyst expectations. The company guided for fiscal 2026 EPS of $4.01–$4.05.
• Shares opened at $70.53, near their one-year low, while analysts maintain a consensus “Hold” rating with an average price target of $92.91. Otis also declared a quarterly dividend of $0.44 per share, yielding approximately 2.5% annually.

Alberta Investment Management Corp bought a new position in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 64,200 shares of the company's stock, valued at approximately $4,597,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Camelot Portfolios LLC acquired a new position in shares of Otis Worldwide in the fourth 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. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Otis Worldwide in the fourth quarter valued at about $33,000. Reflection Asset Management bought a new stake in shares of Otis Worldwide in the fourth quarter valued at approximately $34,000. Finally, MidFirst Bank acquired a new stake in Otis Worldwide during the fourth quarter worth approximately $35,000. Institutional investors own 88.03% of the company's stock.

Otis Worldwide Price Performance

Shares of NYSE OTIS opened at $70.53 on Tuesday. The company has a 50-day moving average price of $72.56 and a 200-day moving average price of $77.99. The stock has a market capitalization of $26.85 billion, a P/E ratio of 18.13, a P/E/G ratio of 2.56 and a beta of 0.89. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted 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 net margin of 10.17% and a negative return on equity of 28.50%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the business posted $1.05 EPS. The firm's revenue was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, equities research analysts anticipate that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, August 14th. This represents a $1.76 annualized dividend and a yield of 2.5%. Otis Worldwide's dividend payout ratio is presently 45.24%.

Analyst Upgrades and Downgrades

Several research analysts have commented on OTIS shares. Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a research report on Tuesday, July 28th. Evercore reiterated an "outperform" rating and issued a $95.00 price objective on shares of Otis Worldwide in a report on Thursday, July 23rd. UBS Group set a $105.00 target price on Otis Worldwide in a research report on Thursday, April 23rd. Barclays lowered their price target on shares of Otis Worldwide from $80.00 to $77.00 and set an "underweight" rating for the company in a report on Thursday, April 23rd. Finally, Sanford C. Bernstein dropped their price target on shares of Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating on the stock in a research report on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Otis Worldwide currently has an average rating of "Hold" and a consensus price target of $92.91.

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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