Cibc World Market Inc. Takes $3.04 Million Position in Otis Worldwide Corporation $OTIS

Key Points

• Cibc World Market Inc. acquired 42,513 shares of Otis Worldwide, valued at approximately $3.04 million, while institutional investors collectively own 88.03% of the company.
• Otis reported quarterly EPS of $1.01, matching estimates, and revenue of $3.86 billion, which exceeded expectations and increased 7.3% year over year. The company reaffirmed fiscal 2026 EPS guidance of $4.01–$4.05.
• Otis declared a quarterly dividend of $0.44 per share, representing an annualized dividend of $1.76 and a 2.4% yield. Analysts maintain a consensus “Hold” rating with an average price target of $92.91.

Cibc World Market Inc. 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 13F filing with the Securities and Exchange Commission (SEC). The fund bought 42,513 shares of the company's stock, valued at approximately $3,044,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its stake in Otis Worldwide by 3.4% in the first quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company's stock valued at $949,000 after purchasing an additional 304 shares during the last quarter. Empowered Funds LLC raised its holdings in Otis Worldwide by 10.5% during the first quarter. Empowered Funds LLC now owns 8,988 shares of the company's stock worth $928,000 after purchasing an additional 857 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Otis Worldwide by 63.7% during the 1st 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 last quarter. Baird Financial Group Inc. lifted its position in shares of Otis Worldwide by 7.1% during the 2nd 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 last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Otis Worldwide by 13.3% in the 2nd quarter. NewEdge Advisors LLC now owns 10,222 shares of the company's stock valued at $1,012,000 after buying an additional 1,196 shares in the last quarter. Hedge funds and other institutional investors own 88.03% of the company's stock.

Otis Worldwide Trading Up 1.3%

Shares of OTIS opened at $72.42 on Thursday. The company's 50 day simple moving average is $72.60 and its 200-day simple moving average is $77.19. The firm has a market cap of $27.57 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month 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 EPS for the quarter, meeting the consensus estimate of $1.01. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. Otis Worldwide's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, equities research analysts forecast that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide's dividend payout ratio is presently 45.24%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on OTIS shares. Morgan Stanley set a $75.00 target price on shares of Otis Worldwide in a research report on Monday, August 10th. Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a research report on Tuesday, July 28th. Evercore restated an "outperform" rating and issued a $95.00 price objective on shares of Otis Worldwide in a research note on Thursday, July 23rd. Sanford C. Bernstein dropped their price objective on Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. Finally, Weiss Ratings reiterated 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 issued a Sell rating to the company. According to data from MarketBeat.com, 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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