Impax Asset Management Group plc Sells 16,737 Shares of Otis Worldwide Corporation $OTIS

Key Points

• Impax Asset Management Group plc cut its stake in Otis Worldwide (NYSE:OTIS) by 14.9%, selling 16,737 shares and leaving 95,841 shares worth $8.37 million per its SEC filing.
• Otis reported Q1 EPS of $0.89 (missing the $0.91 consensus) and revenue of $3.57B (below estimates) but reiterated FY‑2026 guidance of $4.20–4.24 EPS and raised its quarterly dividend to $0.44 ($1.76 annualized, ~2.3% yield).
• Major institutions (e.g., VanEck, AQR, Squarepoint) materially increased positions—leaving institutional ownership at 88.03%—while insiders have sold about 158,013 shares in the last 90 days, reflecting mixed investor sentiment.

Impax Asset Management Group plc cut its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 14.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,841 shares of the company's stock after selling 16,737 shares during the period. Impax Asset Management Group plc's holdings in Otis Worldwide were worth $8,372,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OTIS. Van ECK Associates Corp boosted its stake in shares of Otis Worldwide by 3,464.3% during the third quarter. Van ECK Associates Corp now owns 2,022,770 shares of the company's stock valued at $184,942,000 after purchasing an additional 1,966,019 shares in the last quarter. AQR Capital Management LLC boosted its stake in Otis Worldwide by 125.7% in the third quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company's stock valued at $236,891,000 after acquiring an additional 1,445,904 shares in the last quarter. Squarepoint Ops LLC boosted its stake in Otis Worldwide by 199.6% in the third quarter. Squarepoint Ops LLC now owns 2,030,095 shares of the company's stock valued at $185,612,000 after acquiring an additional 1,352,530 shares in the last quarter. Independent Franchise Partners LLP acquired a new stake in Otis Worldwide in the third quarter valued at approximately $100,435,000. Finally, CIBC Private Wealth Group LLC boosted its stake in Otis Worldwide by 54.0% in the third quarter. CIBC Private Wealth Group LLC now owns 2,890,482 shares of the company's stock valued at $264,277,000 after acquiring an additional 1,013,876 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors.

Otis Worldwide Trading Down 2.1%

NYSE:OTIS opened at $77.80 on Friday. Otis Worldwide Corporation has a 12 month low of $75.27 and a 12 month high of $101.42. The firm has a fifty day simple moving average of $83.50 and a 200-day simple moving average of $87.26. The company has a market capitalization of $30.01 billion, a P/E ratio of 20.69, a PEG ratio of 2.48 and a beta of 1.05.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The company's quarterly revenue was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Equities analysts forecast that Otis Worldwide Corporation will post 4.14 EPS for the current year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, May 15th. This is an increase from Otis Worldwide's previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 2.3%. Otis Worldwide's payout ratio is presently 48.00%.

Key Otis Worldwide News

Here are the key news stories impacting Otis Worldwide this week:

• Positive Sentiment: Management highlighted strong service revenue growth and reiterated fiscal‑year EPS guidance range (FY26: 4.200–4.240), signaling durable recurring revenue that supports longer‑term cash flow. Otis Worldwide Corp (OTIS) Q1 2026 Earnings Call Highlights: Strong Service Growth and ...
• Positive Sentiment: Company reported sales growth driven by services, and some outlets flagged that Otis lifted its sales outlook, which can support multiple expansion if margins recover. Otis tops revenue view, lifts sales outlook as shares rise
• Positive Sentiment: Otis remains on dividend roundups as an income name, a signal to yield‑focused investors that cash return remains part of the thesis. Dividend Roundup: Otis Worldwide, Eaton, AGNC Invest, Morgan Stanley, and more
• Neutral Sentiment: Royal Bank of Canada trimmed its price target from $110 to $105 but kept an "outperform" rating — a cautious vote of confidence that still signals upside versus current levels. Royal Bank Of Canada price target change
• Neutral Sentiment: Earnings materials and call slides provide detail on backlog, service mix and regional dynamics; useful for modeling but not a market mover by itself. Otis Worldwide Corporation 2026 Q1 - Results - Earnings Call Presentation
• Negative Sentiment: Analysts and commentators flagged persistent margin pressure from labor and materials; Seeking Alpha calls out lackluster margin progress as a notable headwind that could limit earnings upside. Otis Worldwide: Lackluster Margin Progress Is A Notable Headwind
• Negative Sentiment: Company warned of tariff exposure and shipment delays related to the Middle East conflict, which pose short‑term cost and delivery risks for equipment sales and could pressure near‑term margins. Elevator maker Otis flags tariff hit, shipment delays amid Middle East conflict

Insider Activity at Otis Worldwide

In other news, CEO Judith Fran Marks sold 56,107 shares of Otis Worldwide stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $90.89, for a total transaction of $5,099,565.23. Following the completion of the sale, the chief executive officer directly owned 231,072 shares in the company, valued at approximately $21,002,134.08. The trade was a 19.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Montlivault Stephane De sold 47,944 shares of Otis Worldwide stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $92.25, for a total transaction of $4,422,834.00. Following the sale, the insider owned 29,176 shares of the company's stock, valued at $2,691,486. The trade was a 62.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 158,013 shares of company stock valued at $14,337,635. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on OTIS. UBS Group set a $105.00 target price on shares of Otis Worldwide in a research note on Thursday. Evercore began coverage on shares of Otis Worldwide in a research note on Monday, April 13th. They issued an "outperform" rating and a $100.00 target price for the company. Weiss Ratings restated a "hold (c)" rating on shares of Otis Worldwide in a research note on Friday, March 27th. Royal Bank Of Canada lowered their target price on shares of Otis Worldwide from $110.00 to $105.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, Wolfe Research downgraded shares of Otis Worldwide from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, April 8th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $97.64.

Otis Worldwide 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.

Want to see what other hedge funds are holding OTIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Otis Worldwide Corporation (NYSE:OTIS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.