Assetmark Inc. grew its position in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 1,758.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,647 shares of the company's stock after acquiring an additional 155,790 shares during the period. Assetmark Inc.'s holdings in Otis Worldwide were worth $11,789,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the company. Chicago Partners Investment Group LLC acquired a new stake in shares of Otis Worldwide in the second quarter valued at approximately $977,000. Diversify Wealth Management LLC raised its stake in Otis Worldwide by 2.8% in the 2nd quarter. Diversify Wealth Management LLC now owns 16,244 shares of the company's stock valued at $1,189,000 after acquiring an additional 439 shares during the period. iA Global Asset Management Inc. acquired a new stake in Otis Worldwide during the 2nd quarter valued at $3,189,000. Baker Avenue Asset Management LP bought a new position in Otis Worldwide during the second quarter worth $358,000. Finally, Banco Santander S.A. boosted its position in Otis Worldwide by 1,153.2% during the second quarter. Banco Santander S.A. now owns 106,257 shares of the company's stock worth $7,608,000 after purchasing an additional 97,778 shares during the period. 88.03% of the stock is owned by institutional investors.
More Otis Worldwide News
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 Price Performance
Shares of NYSE OTIS opened at $72.61 on Friday. The stock has a market capitalization of $27.64 billion, a PE ratio of 18.67, a P/E/G ratio of 2.57 and a beta of 0.89. The business has a fifty day moving average price of $72.54 and a two-hundred day moving average price of $78.22. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two 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 (EPS) for the quarter, hitting the consensus estimate of $1.01. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities analysts expect that Otis Worldwide Corporation will post 4.03 EPS for the current year.
Otis Worldwide Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide's dividend payout ratio (DPR) is currently 45.24%.
Wall Street Analysts Forecast Growth
OTIS has been the topic of several research analyst reports. Morgan Stanley set a $75.00 price objective on shares of Otis Worldwide in a research report on Monday. UBS Group set a $105.00 target price on shares of Otis Worldwide in a report on Thursday, April 23rd. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a report on Tuesday, July 28th. 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 research report on Thursday, July 23rd. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Otis Worldwide in a research note on Wednesday. Four investment 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 MarketBeat.com, Otis Worldwide currently has a consensus rating of "Hold" and a consensus price target of $92.91.
Check Out Our Latest Research Report on Otis Worldwide
Otis Worldwide Profile
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Free Report)
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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