Otis Worldwide Corporation $OTIS Stock Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 187.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 565,450 shares of the company's stock after purchasing an additional 368,800 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.15% of Otis Worldwide worth $36,370,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Otis Worldwide in the second quarter valued at $2,264,017,000. State Street Corp lifted its stake in Otis Worldwide by 2.9% during the 2nd quarter. State Street Corp now owns 16,664,994 shares of the company's stock worth $1,193,214,000 after acquiring an additional 463,491 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Otis Worldwide during the 2nd quarter worth about $423,739,000. Van ECK Associates Corp boosted its holdings in Otis Worldwide by 0.6% during the 2nd quarter. Van ECK Associates Corp now owns 3,993,011 shares of the company's stock valued at $285,900,000 after acquiring an additional 24,914 shares during the period. Finally, Canoe Financial LP boosted its holdings in Otis Worldwide by 4.7% during the 3rd quarter. Canoe Financial LP now owns 3,188,862 shares of the company's stock valued at $205,618,000 after acquiring an additional 144,386 shares during the period. Hedge funds and other institutional investors own 88.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Morgan Stanley set a $75.00 price target on shares of Otis Worldwide in a research note on Monday, August 10th. Sanford C. Bernstein raised their price objective on shares of Otis Worldwide from $90.00 to $94.00 and gave the company an "outperform" rating in a research note on Thursday. Royal Bank Of Canada set a $90.00 target price on shares of Otis Worldwide in a research note on Tuesday, July 28th. Evercore reiterated an "outperform" rating and set a $95.00 target price on shares of Otis Worldwide in a report on Thursday, July 23rd. Finally, Wells Fargo & Company decreased their price target on shares of Otis Worldwide from $77.00 to $75.00 and set an "underweight" rating for the company in a research report on Thursday. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Otis Worldwide currently has an average rating of "Hold" and an average target price of $91.20.

Key Headlines Impacting Otis Worldwide

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

• Positive Sentiment: Otis declared a quarterly dividend of $0.44 per share, payable December 11 to shareholders of record November 13. The annualized payout is $1.76 per share, representing an approximately 2.3% yield and reinforcing the company’s shareholder-return appeal. Otis Declares Quarterly Dividend of $0.44 per Share
• Positive Sentiment: BNP Paribas raised its price target to $90 from $86, indicating improved expectations for the stock despite differing views among analysts. BNP Paribas Adjusts Price Target on Otis Worldwide
• Neutral Sentiment: Otis issued fiscal 2026 EPS guidance of $4.01-$4.05, broadly in line with the $4.04 consensus estimate. Revenue guidance of $15.1-$15.3 billion is slightly below the $15.3 billion consensus at the midpoint, suggesting limited upside expectations.
• Neutral Sentiment: Analyst commentary continues to highlight strong recurring service growth, while comparisons with Albany International focus on valuation, operating performance and business quality rather than a new company-specific catalyst. Otis: Service Growth Is Strong, But Profitability Lags Head-To-Head Contrast: Otis Worldwide and Albany International
• Negative Sentiment: Profitability remains a concern: analysis describes a margin squeeze beneath Otis’s growth, which could limit earnings expansion even if service revenue remains resilient. Otis Q3 Earnings Spotlight: A Margin Squeeze Beneath Growth
• Negative Sentiment: Wells Fargo lowered its price target to $75 from $77 and maintained an “underweight” rating. Evercore ISI also reduced its target to $95 from $100, signaling more limited near-term upside. Wells Fargo Lowers Otis Price Target Evercore ISI Adjusts Price Target

Otis Worldwide Price Performance

OTIS stock opened at $75.93 on Friday. The firm has a market capitalization of $28.90 billion, a P/E ratio of 18.89, a P/E/G ratio of 2.62 and a beta of 0.87. The business's 50-day moving average is $69.68 and its two-hundred day moving average is $76.43. Otis Worldwide Corporation has a 1 year low of $63.58 and a 1 year high of $94.57.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.04. The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.85 billion. Otis Worldwide had a negative return on equity of 28.45% and a net margin of 10.28%. The business's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 earnings per share. On average, analysts expect that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, November 13th. Otis Worldwide's payout ratio is 43.78%.

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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