M&T Bank Corp Sells 130,024 Shares of Otis Worldwide Corporation $OTIS

Key Points

• M&T Bank Corp trimmed its stake in Otis by 84.9%, selling 130,024 shares in Q4 and ending the period with 23,061 shares valued at $2.014 million.
• Otis missed the latest quarter's estimates (EPS $0.89 vs. $0.91; revenue $3.57B vs. $3.77B), set FY2026 guidance of 4.200–4.240 EPS, and raised its quarterly dividend to $0.44 ($1.76 annual, ~2.3% yield).
• Insiders have been net sellers—EVP Neil Green sold 6,000 shares and CAO Michael P. Ryan sold 1,182—totaling 158,013 shares worth $14.34M sold in the last 90 days, while institutional investors own about 88% of Otis.

M&T Bank Corp trimmed its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 84.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,061 shares of the company's stock after selling 130,024 shares during the quarter. M&T Bank Corp's holdings in Otis Worldwide were worth $2,014,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in OTIS. Jones Financial Companies Lllp lifted its position in shares of Otis Worldwide by 3.4% during the first 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 last quarter. Empowered Funds LLC lifted its position 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 lifted its position in shares of Otis Worldwide by 63.7% during the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company's stock worth $417,000 after purchasing an additional 1,574 shares during the last quarter. Baird Financial Group Inc. lifted its position in shares of Otis Worldwide by 7.1% during the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company's stock worth $3,193,000 after purchasing an additional 2,132 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Otis Worldwide by 13.3% during the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company's stock valued at $1,012,000 after buying an additional 1,196 shares during the period. 88.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Otis Worldwide news, EVP Neil Green sold 6,000 shares of Otis Worldwide stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $86.45, for a total value of $518,700.00. Following the transaction, the executive vice president owned 3,773 shares in the company, valued at $326,175.85. The trade was a 61.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael Patrick Ryan sold 1,182 shares of Otis Worldwide stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $90.06, for a total value of $106,450.92. Following the completion of the transaction, the chief accounting officer owned 3,504 shares in the company, valued at $315,570.24. This trade represents a 25.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 158,013 shares of company stock worth $14,337,635 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

Otis Worldwide Trading Down 0.0%

Shares of Otis Worldwide stock opened at $77.46 on Wednesday. The firm has a market cap of $29.72 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.54 and a beta of 1.05. Otis Worldwide Corporation has a 12 month low of $75.27 and a 12 month high of $101.42. The stock's fifty day moving average price is $82.95 and its 200-day moving average price is $87.06.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The company had revenue of $3.57 billion during the quarter, compared to analysts' expectations of $3.77 billion. During the same quarter last year, the firm earned $0.92 EPS. Otis Worldwide's revenue for the quarter was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Analysts forecast that Otis Worldwide Corporation will post 4.18 earnings per share for the current year.

Otis Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.3%. This is a boost from Otis Worldwide's previous quarterly dividend of $0.42. The ex-dividend date is Friday, May 15th. Otis Worldwide's payout ratio is presently 44.68%.

Analysts Set New Price Targets

Several equities analysts have recently commented on OTIS shares. New Street Research set a $98.00 price target on Otis Worldwide in a research note on Friday, January 30th. Weiss Ratings restated a "hold (c)" rating on shares of Otis Worldwide in a research note on Friday, March 27th. Evercore started coverage on Otis Worldwide in a research note on Monday, April 13th. They set an "outperform" rating and a $100.00 price target on the stock. Morgan Stanley set a $88.00 price target on Otis Worldwide in a research note on Friday. Finally, Wall Street Zen lowered Otis Worldwide from a "buy" rating to a "hold" rating in a research note on Saturday, January 10th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average 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.

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