Ally Financial Inc. Purchases New Shares in Otis Worldwide Corporation $OTIS

Key Points

• Ally Financial initiated a position in Otis Worldwide during the second quarter, purchasing 32,000 shares valued at approximately $2.29 million. Institutional investors and hedge funds collectively own 88.03% of OTIS.
• Otis reported quarterly revenue of $3.86 billion, up 7.3% year over year, while earnings per share of $1.01 matched analyst expectations. The company maintained 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’ consensus rating is Hold, with an average price target of $92.91 versus the stock’s recent price of $71.65.

Ally Financial Inc. purchased a new position in Otis Worldwide Corporation (NYSE:OTIS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 32,000 shares of the company's stock, valued at approximately $2,291,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of OTIS. Jones Financial Companies Lllp boosted its stake in 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 purchasing an additional 304 shares during the period. Empowered Funds LLC lifted its holdings in shares of Otis Worldwide by 10.5% in the first 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 boosted its position in shares of Otis Worldwide by 63.7% in the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company's stock worth $417,000 after buying an additional 1,574 shares during the period. Baird Financial Group Inc. boosted its position in shares of Otis Worldwide by 7.1% in the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company's stock worth $3,193,000 after buying an additional 2,132 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of 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 buying an additional 1,196 shares during the period. Institutional investors and hedge funds own 88.03% of the company's stock.

Otis Worldwide Price Performance

OTIS opened at $71.65 on Monday. The company has a market capitalization of $27.28 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $94.57. The business has a 50-day moving average of $72.64 and a 200-day moving average of $77.56.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The business had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $3.76 billion. During the same quarter in the previous year, the business posted $1.05 EPS. The firm's quarterly 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. On average, equities research analysts expect that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

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

Analyst Upgrades and Downgrades

OTIS has been the subject of several research analyst reports. Weiss Ratings reissued a "hold (c-)" rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Royal Bank Of Canada set a $90.00 target price on Otis Worldwide in a research note on Tuesday, July 28th. Sanford C. Bernstein dropped 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. Morgan Stanley set a $75.00 price target on shares of Otis Worldwide in a research report on Monday, August 10th. Finally, Evercore restated an "outperform" rating and set a $95.00 price target on shares of Otis Worldwide in a report on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Otis Worldwide presently has an average rating of "Hold" and an average target price of $92.91.

About Otis Worldwide

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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