Otis Worldwide Corporation $OTIS Stock: Assenagon Asset Management S.A. Grows Stake

Key Points

• Assenagon Asset Management increased its Otis Worldwide stake by 128.8% in the third quarter, bringing its holdings to 412,369 shares valued at approximately $26.5 million. Institutional investors collectively own 88.03% of the company.
• Otis shares opened at $71.31, while the company reported quarterly revenue of $3.86 billion, up 7.3% year over year, and EPS of $1.01. Management maintained fiscal 2026 EPS guidance of $4.01–$4.05.
• Otis pays a quarterly dividend of $0.44 per share, equivalent to a 2.5% annualized yield. Analysts have an average “Hold” rating and a consensus price target of $91.00, despite several firms maintaining “Outperform” ratings.

Assenagon Asset Management S.A. raised its stake in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 128.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 412,369 shares of the company's stock after buying an additional 232,164 shares during the quarter. Assenagon Asset Management S.A. owned 0.11% of Otis Worldwide worth $26,524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Turtle Creek Wealth Advisors LLC grew its holdings in Otis Worldwide by 1.9% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 9,086 shares of the company's stock valued at $700,000 after buying an additional 169 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Otis Worldwide by 1.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,871 shares of the company's stock worth $1,280,000 after purchasing an additional 169 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in shares of Otis Worldwide by 2.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 7,102 shares of the company's stock valued at $547,000 after purchasing an additional 170 shares during the last quarter. Washington Trust Advisors Inc. boosted its holdings in shares of Otis Worldwide by 8.0% in the 2nd quarter. Washington Trust Advisors Inc. now owns 2,567 shares of the company's stock valued at $184,000 after purchasing an additional 190 shares during the last quarter. Finally, Eastern Bank boosted its holdings in shares of Otis Worldwide by 2.7% in the 3rd quarter. Eastern Bank now owns 7,142 shares of the company's stock valued at $459,000 after purchasing an additional 190 shares during the last quarter. Institutional investors own 88.03% of the company's stock.

Otis Worldwide Stock Down 0.0%

Shares of NYSE OTIS opened at $71.31 on Monday. The stock's 50 day moving average price is $69.32 and its two-hundred day moving average price is $72.41. Otis Worldwide Corporation has a 52-week low of $63.58 and a 52-week high of $94.57. The stock has a market capitalization of $27.14 billion, a P/E ratio of 18.33, a PEG ratio of 2.50 and a beta of 0.87.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting the consensus estimate 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 during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the firm earned $1.05 EPS. The business's 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, analysts anticipate that Otis Worldwide Corporation will post 4.04 EPS for the current year.

Otis Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 14th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, August 14th. This represents a $1.76 annualized dividend and a yield of 2.5%. Otis Worldwide's payout ratio is presently 45.24%.

Analyst Ratings Changes

Several research firms have recently weighed in on OTIS. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Otis Worldwide in a research note on Monday, September 21st. Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a research report on Tuesday, July 28th. Morgan Stanley set a $75.00 price target on shares of Otis Worldwide in a research report on Monday, August 10th. Evercore reiterated an "outperform" rating and issued a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $91.00.

Otis Worldwide Profile

Otis Worldwide Corporation NYSE: OTIS is a global manufacturer and service provider for the elevator and escalator industry. The company designs, manufactures, installs, modernizes and maintains elevators, escalators and moving walkways for commercial buildings, residential developments, transportation hubs and other infrastructure projects.

Otis provides equipment for new construction as well as maintenance, repair and modernization services for existing systems. Its service operations support equipment from Otis and other manufacturers, helping building owners and operators manage the safety, performance and lifecycle of vertical transportation systems.

The company traces its history to 1853, when Elisha Otis demonstrated a safety device for elevators.

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