Bank of New York Mellon Corp Makes New Investment in Otis Worldwide Corporation $OTIS

Key Points

• Bank of New York Mellon initiated a 2.74 million-share position in Otis Worldwide worth approximately $196.3 million, representing 0.72% of the company. Institutional investors collectively own 88.03% of Otis shares.
• Otis reported quarterly revenue of $3.86 billion, up 7.3% year over year, while adjusted earnings of $1.01 per share matched analyst estimates. The company reaffirmed fiscal 2026 EPS guidance of $4.01–$4.05.
• Shares opened at $71.65, near the lower end of their 52-week range, while analysts maintain a consensus “Hold” rating and a $92.91 price target. Otis also declared a quarterly dividend of $0.44 per share, yielding approximately 2.5% annually.

Bank of New York Mellon Corp bought a new stake 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 Securities and Exchange Commission. The firm bought 2,741,590 shares of the company's stock, valued at approximately $196,298,000. Bank of New York Mellon Corp owned 0.72% of Otis Worldwide at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in shares of Otis Worldwide by 3.4% in the first quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company's stock worth $949,000 after buying an additional 304 shares during the period. Empowered Funds LLC raised its stake in shares of Otis Worldwide by 10.5% during 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 during the period. Acadian Asset Management LLC raised its stake in shares of Otis Worldwide by 63.7% during the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company's stock valued at $417,000 after purchasing an additional 1,574 shares during the period. Baird Financial Group Inc. lifted its position in shares of Otis Worldwide by 7.1% during the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company's stock worth $3,193,000 after purchasing an additional 2,132 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Otis Worldwide by 13.3% during the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company's stock worth $1,012,000 after purchasing an additional 1,196 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company's stock.

Otis Worldwide Price Performance

NYSE OTIS opened at $71.65 on Friday. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $94.57. The company has a market capitalization of $27.28 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. The company's fifty day moving average price is $72.64 and its two-hundred day moving average price is $77.62.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the firm earned $1.05 EPS. The company's revenue was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, analysts anticipate that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be paid 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 (DPR) is 45.24%.

Analyst Ratings Changes

OTIS has been the subject of a number of recent analyst reports. Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a report on Tuesday, July 28th. Morgan Stanley set a $75.00 price objective on shares of Otis Worldwide in a report on Monday, August 10th. Weiss Ratings reissued a "hold (c-)" rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Sanford C. Bernstein lowered their target price on Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating for the company in a research note on Thursday, July 23rd. Finally, Evercore reaffirmed an "outperform" rating and set a $95.00 target price on shares of Otis Worldwide in a research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Otis Worldwide has a consensus rating of "Hold" and a consensus 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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