Davidson Investment Advisors Decreases Stock Position in Otis Worldwide Corporation $OTIS

Key Points

• Davidson Investment Advisors reduced its Otis Worldwide position by 11.2% in the second quarter, selling 33,062 shares and retaining 262,612 shares valued at approximately $18.8 million.
• Otis reported second-quarter earnings of $1.01 per share and revenue of $3.86 billion, surpassing revenue expectations while revenue 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, equivalent to a 2.5% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $92.91, compared with the stock’s recent price near $71.77.

Davidson Investment Advisors cut its holdings in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 11.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,612 shares of the company's stock after selling 33,062 shares during the quarter. Davidson Investment Advisors owned 0.07% of Otis Worldwide worth $18,803,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Orion Capital Management LLC purchased a new position in Otis Worldwide in the 2nd quarter worth about $27,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Otis Worldwide during the 4th quarter valued at about $27,000. MidFirst Bank purchased a new stake in shares of Otis Worldwide during the 2nd quarter valued at about $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Otis Worldwide in the second quarter worth approximately $28,000. Finally, Elevation Wealth Partners LLC grew its stake in shares of Otis Worldwide by 1,910.0% in the second quarter. Elevation Wealth Partners LLC now owns 402 shares of the company's stock worth $29,000 after acquiring an additional 382 shares during the period. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Otis Worldwide Trading Up 0.4%

OTIS opened at $71.77 on Friday. 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 company's 50 day moving average is $72.54 and its 200 day moving average is $77.02. 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 announced its earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting analysts' consensus estimates of $1.01. The business had revenue of $3.86 billion during 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 was up 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.05 earnings per share. 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 business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be given 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 payout ratio is 45.24%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OTIS. Morgan Stanley set a $75.00 price objective on shares of Otis Worldwide in a report on Monday, August 10th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Evercore reiterated an "outperform" rating and set a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Sanford C. Bernstein lowered their price target 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, Royal Bank Of Canada set a $90.00 price target on Otis Worldwide in a research note on Tuesday, July 28th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Otis Worldwide presently has an average rating of "Hold" and an average target price 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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