Allworth Financial LP Buys New Position in Otis Worldwide Corporation $OTIS

Key Points

• Allworth Financial LP initiated a position in Otis Worldwide by purchasing 43,593 shares worth approximately $3.12 million in the second quarter. Institutional investors and hedge funds collectively own 88.03% of the company.
• Otis reported quarterly revenue of $3.86 billion, up 7.3% year over year, while earnings of $1.01 per share matched analysts’ expectations. The company reaffirmed fiscal 2026 EPS guidance of $4.01–$4.05.
• Otis declared a quarterly dividend of $0.44 per share, equivalent to an annualized $1.76 payout and a 2.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $92.91, compared with the stock’s $71.65 price.

Allworth Financial LP bought a new position in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 43,593 shares of the company's stock, valued at approximately $3,121,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. AG bought a new position in shares of Otis Worldwide in the second quarter valued at approximately $3,023,000. Shelter Ins Retirement Plan bought a new stake in Otis Worldwide during the second quarter worth $1,145,600,000. Mystic Asset Management Inc. bought a new stake in shares of Otis Worldwide in the 2nd quarter worth $229,000. Vise Technologies Inc. bought a new stake in shares of Otis Worldwide in the 2nd quarter worth $606,000. Finally, MSH Capital Advisors LLC bought a new stake in shares of Otis Worldwide in the 2nd quarter worth $555,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Stock Down 0.2%

OTIS opened at $71.65 on Friday. The business's fifty day simple moving average is $72.64 and its 200 day simple moving average is $77.62. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $94.57. The stock has a market cap of $27.28 billion, a PE ratio of 18.42, a P/E/G ratio of 2.53 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, meeting 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 for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, equities analysts anticipate that Otis Worldwide Corporation will post 4.02 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The firm 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. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide's dividend payout ratio (DPR) is 45.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OTIS. Morgan Stanley set a $75.00 target price on Otis Worldwide in a research note on Monday, August 10th. Weiss Ratings restated a "hold (c-)" rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Evercore reissued an "outperform" rating and set a $95.00 price objective on shares of Otis Worldwide in a report on Thursday, July 23rd. Sanford C. Bernstein decreased their target price on Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating for the company in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada set a $90.00 target price on shares of Otis Worldwide in a research report on Tuesday, July 28th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $92.91.

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.

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