Beacon Pointe Advisors LLC Makes New Investment in Otis Worldwide Corporation $OTIS

Key Points

• Beacon Pointe Advisors acquired 21,920 shares of Otis Worldwide worth approximately $1.57 million during the second quarter. Institutional investors collectively own 88.03% of the company, with BlackRock also establishing a significant new position.
• Otis reported quarterly revenue of $3.86 billion, up 7.3% year over year, while adjusted earnings of $1.01 per share matched analyst expectations. The company maintained fiscal 2026 EPS guidance of $4.01–$4.05.
• Shares opened at $71.77, near the lower end of their 52-week range, while analysts hold a consensus “Hold” rating and an average price target of $92.91. Otis also declared a quarterly dividend of $0.44 per share, yielding approximately 2.5% annually.

Beacon Pointe Advisors LLC acquired a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 21,920 shares of the company's stock, valued at approximately $1,570,000.

Several other large investors have also made changes to their positions in the business. BlackRock Inc. acquired a new stake in Otis Worldwide during the 2nd quarter worth about $2,264,017,000. State Street Corp lifted its holdings in shares of Otis Worldwide by 0.8% in the 4th quarter. State Street Corp now owns 16,128,197 shares of the company's stock valued at $1,408,798,000 after buying an additional 121,207 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Otis Worldwide by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 10,788,225 shares of the company's stock valued at $945,020,000 after buying an additional 29,636 shares during the period. Norges Bank acquired a new position in shares of Otis Worldwide in the 4th quarter valued at about $770,125,000. Finally, Franklin Resources Inc. boosted its stake in shares of Otis Worldwide by 5.7% in the fourth quarter. Franklin Resources Inc. now owns 7,842,153 shares of the company's stock worth $685,012,000 after buying an additional 422,519 shares during the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Price Performance

Shares of OTIS stock opened at $71.77 on Monday. The company has a market cap of $27.32 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.53 and a beta of 0.89. The stock has a 50 day simple moving average of $72.54 and a 200-day simple moving average of $76.94. 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 released its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.01. The firm had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. 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 announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be given a $0.44 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. Otis Worldwide's dividend payout ratio (DPR) is 45.24%.

Analyst Upgrades and Downgrades

OTIS has been the topic of several recent research reports. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a research report on Tuesday, July 28th. Sanford C. Bernstein cut their target price on shares of Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating for the company in a report on Thursday, July 23rd. Morgan Stanley set a $75.00 target price on shares of Otis Worldwide in a research note on Monday, August 10th. Evercore reissued an "outperform" rating and set a $95.00 price target on shares of Otis Worldwide in a report on Thursday, July 23rd. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Four investment 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 currently has a consensus rating of "Hold" and an average price target 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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