Korea Investment CORP Acquires New Position in Otis Worldwide Corporation $OTIS

Key Points

• Korea Investment CORP acquired 403,037 shares of Otis Worldwide in the second quarter, valued at approximately $28.9 million and representing about 0.11% of the company. Institutional investors collectively own 88.03% of Otis.
• Otis reported quarterly revenue of $3.86 billion, up 7.3% year over year, while adjusted earnings of $1.01 per share matched estimates. The company maintained fiscal 2026 EPS guidance of $4.01–$4.05.
• Shares opened at $71.65, near the lower end of their 52-week range, while analysts maintain a consensus “Hold” rating with an average price target of $92.91. Otis also declared a quarterly dividend of $0.44 per share, implying a 2.5% annual yield.

Korea Investment CORP bought a new position in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 403,037 shares of the company's stock, valued at approximately $28,857,000. Korea Investment CORP owned about 0.11% of Otis Worldwide as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of OTIS. Jones Financial Companies Lllp lifted its stake in shares of Otis Worldwide by 3.4% during the 1st quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company's stock worth $949,000 after purchasing an additional 304 shares during the period. Empowered Funds LLC boosted its holdings in shares of 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 during the last quarter. Acadian Asset Management LLC grew its position in shares of Otis Worldwide by 63.7% in the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company's stock valued at $417,000 after purchasing an additional 1,574 shares during the period. Baird Financial Group Inc. increased its stake 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 valued at $3,193,000 after acquiring an additional 2,132 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Otis Worldwide by 13.3% during the 2nd quarter. NewEdge Advisors LLC now owns 10,222 shares of the company's stock worth $1,012,000 after acquiring an additional 1,196 shares during the period. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Stock Down 0.2%

NYSE:OTIS opened at $71.65 on Friday. The company has a market cap of $27.28 billion, a PE ratio of 18.42, a P/E/G ratio of 2.52 and a beta of 0.89. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $94.57. The business's 50 day moving average is $72.64 and its two-hundred day moving average is $77.62.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the business posted $1.05 EPS. The company's quarterly revenue 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, sell-side analysts expect that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The business 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 dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. Otis Worldwide's dividend payout ratio is 45.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on OTIS shares. Weiss Ratings restated a "hold (c-)" rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Morgan Stanley set a $75.00 price objective on shares of Otis Worldwide in a research note on Monday, August 10th. Evercore restated an "outperform" rating and set a $95.00 price objective on shares of Otis Worldwide in a report on Thursday, July 23rd. Sanford C. Bernstein cut their target price on Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating on the stock in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a research report on Tuesday, July 28th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source