Corient Private Wealth LP Buys 106,606 Shares of Otis Worldwide Corporation $OTIS

Key Points

• Corient Private Wealth LP increased its Otis Worldwide stake by 70.2% in the second quarter, purchasing 106,606 shares to hold 258,430 shares valued at approximately $18.5 million.
• Otis reported quarterly revenue of $3.86 billion, up 7.3% year over year and above estimates, while adjusted earnings of $1.01 per share matched expectations. The company maintained fiscal 2026 EPS guidance of $4.01–$4.05.
• Shares opened at $70.32, near the lower end of their 52-week range, while analysts’ average price target was $92.91 and the consensus rating was “Hold.” Otis also pays a quarterly dividend of $0.44 per share, yielding about 2.5% annually.

Corient Private Wealth LP increased its position in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 70.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 258,430 shares of the company's stock after buying an additional 106,606 shares during the period. Corient Private Wealth LP owned 0.07% of Otis Worldwide worth $18,504,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in shares of Otis Worldwide during the second quarter valued at approximately $27,000. MidFirst Bank bought a new position in shares of Otis Worldwide in the 2nd quarter worth $28,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Otis Worldwide in the 2nd quarter valued at $28,000. Elevation Wealth Partners LLC grew its position in Otis Worldwide by 1,910.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 402 shares of the company's stock valued at $29,000 after purchasing an additional 382 shares during the period. Finally, Addison Advisors LLC bought a new stake in Otis Worldwide during the 2nd quarter valued at $29,000. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Stock Performance

Otis Worldwide stock opened at $70.32 on Tuesday. Otis Worldwide Corporation has a fifty-two week low of $67.64 and a fifty-two week high of $94.57. The stock has a market cap of $26.77 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 2.43 and a beta of 0.88. The firm's 50-day simple moving average is $72.03 and its 200 day simple moving average is $75.33.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting 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 firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the business posted $1.05 EPS. The company's revenue for the quarter 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 predict that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 14th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, August 14th. Otis Worldwide's dividend payout ratio (DPR) is presently 45.24%.

Analyst Ratings Changes

OTIS has been the topic of a number of recent research reports. Evercore reaffirmed an "outperform" rating and issued a $95.00 price objective on shares of Otis Worldwide in a research note on Thursday, July 23rd. Morgan Stanley set a $75.00 target price on shares of Otis Worldwide in a research report on Monday, August 10th. Weiss Ratings restated a "hold (c-)" rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Sanford C. Bernstein cut their price target 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, Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a report on Tuesday, July 28th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Otis Worldwide has an average rating of "Hold" and an average target price of $92.91.

Otis Worldwide Profile

Otis Worldwide Corporation NYSE: OTIS designs, manufactures, installs and services elevators, escalators and moving walkways. Its equipment is used in residential, commercial, institutional, transportation and industrial buildings, supporting the movement of people in high-rise and other densely occupied environments.

The company's offerings include passenger and freight elevators, escalators, moving walkways, destination-dispatch systems and related technologies. Otis also provides maintenance, repair, modernization and replacement services for its own equipment and products made by other manufacturers.

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