Tidal Investments LLC Lowers Holdings in Otis Worldwide Corporation $OTIS

Key Points

• Tidal Investments reduced its Otis Worldwide stake by 5.7% in the second quarter, selling 24,737 shares and retaining 407,080 shares valued at approximately $29.1 million. Institutional investors collectively own 88.03% of OTIS.
• Otis reported quarterly revenue of $3.86 billion, up 7.3% year over year and above estimates, while adjusted earnings of $1.01 per share matched consensus. The company maintained fiscal 2026 EPS guidance of $4.01–$4.05.
• Shares opened at $69.38, near their 12-month low, while analysts maintain a consensus “Hold” rating with an average price target of $92.91. Otis also declared a quarterly dividend of $0.44 per share, yielding about 2.5% annually.

Tidal Investments LLC trimmed its stake in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 5.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 407,080 shares of the company's stock after selling 24,737 shares during the quarter. Tidal Investments LLC owned 0.11% of Otis Worldwide worth $29,147,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Orion Capital Management LLC purchased a new stake in Otis Worldwide during the 2nd quarter valued at about $27,000. Garton & Associates Financial Advisors LLC purchased a new position in Otis Worldwide in the fourth quarter worth about $27,000. MidFirst Bank purchased a new position in Otis Worldwide in the second quarter worth about $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Otis Worldwide in the second quarter worth approximately $28,000. Finally, Elevation Wealth Partners LLC lifted its stake in shares of Otis Worldwide by 1,910.0% in the second quarter. Elevation Wealth Partners LLC now owns 402 shares of the company's stock worth $29,000 after buying an additional 382 shares in the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Stock Down 1.0%

OTIS opened at $69.38 on Thursday. The firm has a 50 day moving average price of $72.28 and a 200-day moving average price of $75.79. Otis Worldwide Corporation has a twelve month low of $68.41 and a twelve month high of $94.57. The stock has a market capitalization of $26.41 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 2.47 and a beta of 0.88.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued its quarterly earnings data 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 net margin of 10.17% and a negative return on equity of 28.50%. 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 firm earned $1.05 earnings per share. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, analysts expect that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders 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 of this dividend is Friday, August 14th. Otis Worldwide's dividend payout ratio is presently 45.24%.

Wall Street Analyst Weigh In

OTIS has been the subject of several analyst reports. Evercore reissued an "outperform" rating and set a $95.00 price target on shares of Otis Worldwide in a research report on Thursday, July 23rd. Morgan Stanley set a $75.00 price objective on Otis Worldwide in a research report on Monday, August 10th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Sanford C. Bernstein reduced their target price on Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating for the company in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada set a $90.00 price target on Otis Worldwide in a research note on Tuesday, July 28th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $92.91.

About Otis Worldwide

Otis Worldwide Corporation NYSE: OTIS designs, manufactures, installs and services elevators, escalators and moving walkways. Its equipment is used in residential, commercial, institutional, transportation and industrial buildings, supporting the movement of people in high-rise and other densely occupied environments.

The company's offerings include passenger and freight elevators, escalators, moving walkways, destination-dispatch systems and related technologies. Otis also provides maintenance, repair, modernization and replacement services for its own equipment and products made by other manufacturers.

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