Empowered Funds LLC Acquires New Position in Otis Worldwide Corporation $OTIS

Key Points

• Empowered Funds LLC acquired 72,123 shares of Otis Worldwide in the second quarter, valued at approximately $5.16 million. Institutional investors collectively own 88.03% of the company.
• 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 expects fiscal 2026 earnings of $4.01–$4.05 per share.
• Otis declared a quarterly dividend of $0.44 per share, equivalent to an annualized $1.76 dividend and a 2.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $92.91, compared with the stock’s $71.34 opening price.

Empowered Funds LLC acquired a new stake in Otis Worldwide Corporation (NYSE:OTIS - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 72,123 shares of the company's stock, valued at approximately $5,164,000.

A number of other institutional investors have also bought and sold shares of OTIS. Pinnacle Financial Partners Inc. increased its position in Otis Worldwide by 19.6% during the third quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company's stock worth $7,085,000 after purchasing an additional 12,721 shares during the last quarter. Capital Research Global Investors boosted its holdings in Otis Worldwide by 0.6% in the 4th quarter. Capital Research Global Investors now owns 2,843,926 shares of the company's stock valued at $248,417,000 after purchasing an additional 18,189 shares during the last quarter. Banco Santander S.A. grew its stake in shares of Otis Worldwide by 1,153.2% in the 2nd quarter. Banco Santander S.A. now owns 106,257 shares of the company's stock valued at $7,608,000 after buying an additional 97,778 shares during the period. Lazard Freres Gestion S.A.S. grew its stake in shares of Otis Worldwide by 21.9% in the 4th quarter. Lazard Freres Gestion S.A.S. now owns 1,309,160 shares of the company's stock valued at $114,355,000 after buying an additional 235,316 shares during the period. Finally, Alberta Investment Management Corp increased its holdings in shares of Otis Worldwide by 44.1% during the 4th quarter. Alberta Investment Management Corp now owns 170,600 shares of the company's stock worth $14,902,000 after buying an additional 52,200 shares during the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Stock Performance

Otis Worldwide stock opened at $71.34 on Tuesday. The company's 50 day simple moving average is $72.52 and its 200-day simple moving average is $76.81. The company has a market capitalization of $27.16 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 2.53 and a beta of 0.89. 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 issued its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 EPS 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 firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period in the prior year, the business posted $1.05 EPS. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Equities analysts expect that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, August 14th. Otis Worldwide's dividend payout ratio (DPR) is currently 45.24%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OTIS. Morgan Stanley set a $75.00 price target on shares of Otis Worldwide in a research report on Monday, August 10th. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a research report on Tuesday, July 28th. Evercore reissued an "outperform" rating and set a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Weiss Ratings restated a "hold (c-)" rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Finally, Sanford C. Bernstein decreased their price target on Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating on the stock in a research note on Thursday, July 23rd. Four research 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average 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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