Pictet Asset Management Holding SA Acquires 39,389 Shares of Otis Worldwide Corporation $OTIS

Key Points

• Pictet Asset Management Holding SA increased its stake in Otis by 4.4%, acquiring 39,389 shares to hold 942,173 shares (about 0.24%) valued at roughly $82.3 million at quarter-end.
• Otis missed recent quarterly estimates, reporting EPS of $0.89 vs. $0.91 expected and revenue of $3.57 billion vs. $3.77 billion, while setting FY2026 guidance of $4.20–$4.24 EPS.
• Corporate actions and ownership: Otis raised its quarterly dividend to $0.44 ($1.76 annual, ~2.3% yield) as insiders sold about 158,013 shares in the period, leaving insiders with roughly 0.23% ownership and institutions owning ~88%.

Pictet Asset Management Holding SA increased its holdings in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 4.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 942,173 shares of the company's stock after buying an additional 39,389 shares during the quarter. Pictet Asset Management Holding SA owned about 0.24% of Otis Worldwide worth $82,301,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of OTIS. Allied Investment Advisors LLC grew its stake in shares of Otis Worldwide by 6.0% during the 3rd quarter. Allied Investment Advisors LLC now owns 118,761 shares of the company's stock valued at $10,858,000 after purchasing an additional 6,770 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Otis Worldwide by 54.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,890,482 shares of the company's stock valued at $264,277,000 after purchasing an additional 1,013,876 shares during the period. SG Americas Securities LLC grew its stake in shares of Otis Worldwide by 12,345.2% during the 4th quarter. SG Americas Securities LLC now owns 499,177 shares of the company's stock valued at $43,603,000 after purchasing an additional 495,166 shares during the period. Pinnacle Financial Partners Inc. grew its stake in shares of Otis Worldwide by 19.6% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company's stock valued at $7,085,000 after purchasing an additional 12,721 shares during the period. Finally, Canoe Financial LP grew its stake in shares of Otis Worldwide by 15.6% during the 4th quarter. Canoe Financial LP now owns 2,787,870 shares of the company's stock valued at $243,520,000 after purchasing an additional 375,914 shares during the period. 88.03% of the stock is currently owned by institutional investors.

Otis Worldwide Trading Down 0.0%

Shares of NYSE:OTIS opened at $77.46 on Wednesday. The stock has a 50 day moving average of $82.95 and a 200 day moving average of $87.06. The company has a market cap of $29.72 billion, a PE ratio of 20.60, a price-to-earnings-growth 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.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the firm posted $0.92 earnings per share. The company's revenue was up 6.4% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Equities research analysts predict that Otis Worldwide Corporation will post 4.18 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently declared 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%. The ex-dividend date is Friday, May 15th. This is a positive change from Otis Worldwide's previous quarterly dividend of $0.42. Otis Worldwide's dividend payout ratio is currently 44.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Weiss Ratings restated a "hold (c)" rating on shares of Otis Worldwide in a research note on Friday, March 27th. UBS Group set a $105.00 price target on Otis Worldwide in a research note on Thursday, April 23rd. Royal Bank Of Canada cut their price target on Otis Worldwide from $110.00 to $105.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. New Street Research set a $98.00 price target on Otis Worldwide in a research note on Friday, January 30th. Finally, Evercore began coverage on Otis Worldwide in a research note on Monday, April 13th. They set an "outperform" rating and a $100.00 price objective for the company. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $97.64.

Insiders Place Their Bets

In other Otis Worldwide news, insider Montlivault Stephane De sold 47,944 shares of the company's stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $92.25, for a total value of $4,422,834.00. Following the completion of the transaction, the insider directly owned 29,176 shares in the company, valued at $2,691,486. This represents a 62.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Judith Fran Marks sold 56,107 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $90.89, for a total value of $5,099,565.23. Following the transaction, the chief executive officer owned 231,072 shares of the company's stock, valued at $21,002,134.08. This represents a 19.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 158,013 shares of company stock valued at $14,337,635. 0.23% of the stock is owned by company insiders.

Otis Worldwide Company 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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