Otis Worldwide Corporation $OTIS Shares Sold by Amundi

Key Points

• Amundi reduced its Otis Worldwide stake by 2.2% in the second quarter, selling 41,646 shares and retaining 1.84 million shares valued at approximately $132.1 million. Institutional investors and hedge funds collectively own 88.03% of the company.
• Otis reported quarterly revenue of $3.86 billion, up 7.3% year over year and above analyst expectations, while earnings of $1.01 per share matched estimates. The company reaffirmed fiscal 2026 EPS guidance of $4.01–$4.05.
• Shares opened at $70.14, near their 52-week low, while analysts maintained a consensus “Hold” rating with a $92.91 target price. Otis also declared a quarterly dividend of $0.44 per share, representing a 2.5% yield.

Amundi cut its holdings in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,844,777 shares of the company's stock after selling 41,646 shares during the quarter. Amundi owned about 0.48% of Otis Worldwide worth $132,086,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Groupe la Francaise boosted its holdings in Otis Worldwide by 10.8% during the second quarter. Groupe la Francaise now owns 66,940 shares of the company's stock worth $4,792,000 after buying an additional 6,529 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Otis Worldwide during the 2nd quarter worth $14,080,000. First Eagle Investment Management LLC grew its holdings in shares of Otis Worldwide by 5.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 205,863 shares of the company's stock worth $14,740,000 after acquiring an additional 9,830 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Otis Worldwide by 7,150.9% in the 2nd quarter. California State Teachers Retirement System now owns 45,473,804 shares of the company's stock worth $3,255,924,000 after acquiring an additional 44,846,653 shares during the last quarter. Finally, Washington Trust Advisors Inc. raised its position in shares of Otis Worldwide by 8.0% during the second quarter. Washington Trust Advisors Inc. now owns 2,567 shares of the company's stock worth $184,000 after purchasing an additional 190 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Trading Down 1.5%

Shares of Otis Worldwide stock opened at $70.14 on Wednesday. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The company has a market cap of $26.70 billion, a P/E ratio of 18.03, a P/E/G ratio of 2.51 and a beta of 0.88. The stock has a 50-day moving average price of $72.31 and a 200 day moving average price of $75.96.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, meeting analysts' consensus estimates of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the company earned $1.05 EPS. The firm'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. On average, equities analysts forecast that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be issued 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

OTIS has been the subject of a number of recent analyst reports. Evercore reiterated an "outperform" rating and issued a $95.00 price target on shares of Otis Worldwide in a research report on Thursday, July 23rd. Sanford C. Bernstein cut their price objective on Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. Morgan Stanley set a $75.00 price objective on shares of Otis Worldwide in a research note on Monday, August 10th. Royal Bank Of Canada set a $90.00 target price on shares of Otis Worldwide in a research report on Tuesday, July 28th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Otis Worldwide in a report on Wednesday, August 12th. 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 stock. Based on data from MarketBeat.com, Otis Worldwide has a consensus rating of "Hold" and a consensus target price 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.

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