Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Otis Worldwide Corporation $OTIS

Key Points

• Zurcher Kantonalbank boosted its stake in Otis by 44.2% in Q4 to 239,993 shares (an additional 73,609 shares), holding about 0.06% of the company worth roughly $20.96 million.
• Otis missed the quarter with EPS of $0.89 versus $1.08 expected and revenue of $3.57B versus $3.77B expected, but set FY2026 guidance of $4.200–4.240 EPS (analysts expect $4.23).
• Otis raised its quarterly dividend to $0.44 (annualized $1.76, ~2.2% yield), while insiders sold about 158,013 shares (~$14.34M) over the last quarter and institutional investors own roughly 88.03% of the stock.

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 44.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 239,993 shares of the company's stock after acquiring an additional 73,609 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Otis Worldwide worth $20,963,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Root Financial Partners LLC bought a new stake in Otis Worldwide during the 3rd quarter worth approximately $26,000. Stance Capital LLC bought a new stake in Otis Worldwide during the 3rd quarter worth approximately $27,000. Rakuten Investment Management Inc. bought a new stake in Otis Worldwide during the 3rd quarter worth approximately $31,000. Oakworth Capital Inc. increased its holdings in Otis Worldwide by 49.1% during the 3rd quarter. Oakworth Capital Inc. now owns 343 shares of the company's stock worth $31,000 after acquiring an additional 113 shares during the period. Finally, Physician Wealth Advisors Inc. increased its holdings in Otis Worldwide by 57.7% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 339 shares of the company's stock worth $31,000 after acquiring an additional 124 shares during the period. Institutional investors own 88.03% of the company's stock.

Otis Worldwide Stock Down 2.3%

Shares of OTIS stock opened at $78.90 on Wednesday. The business has a 50-day moving average price of $84.21 and a two-hundred day moving average price of $87.49. Otis Worldwide Corporation has a 12-month low of $75.27 and a 12-month high of $101.42. The firm has a market cap of $30.67 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted 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 $1.08 by ($0.19). Otis Worldwide had a negative return on equity of 30.42% and a net margin of 9.59%.The firm had revenue of $3.57 billion during the quarter, compared to analysts' expectations of $3.77 billion. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, research analysts expect that Otis Worldwide Corporation will post 4.23 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 15th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, May 15th. This is an increase from Otis Worldwide's previous quarterly dividend of $0.42. Otis Worldwide's dividend payout ratio (DPR) is currently 48.00%.

Insider Transactions at Otis Worldwide

In other news, CAO Michael Patrick Ryan sold 1,182 shares of the company's stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $90.06, for a total value of $106,450.92. Following the completion of the transaction, the chief accounting officer directly owned 3,504 shares in the company, valued at approximately $315,570.24. This represents a 25.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Neil Green sold 6,000 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $86.45, for a total transaction of $518,700.00. Following the transaction, the executive vice president directly owned 3,773 shares in the company, valued at approximately $326,175.85. This represents a 61.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 158,013 shares of company stock valued at $14,337,635 over the last quarter. 0.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on OTIS shares. Wolfe Research lowered shares of Otis Worldwide from an "outperform" rating to a "peer perform" rating in a report on Wednesday, April 8th. Wells Fargo & Company decreased their target price on shares of Otis Worldwide from $92.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 1st. Evercore started coverage on shares of Otis Worldwide in a report on Monday, April 13th. They set an "outperform" rating and a $100.00 target price on the stock. Barclays decreased their target price on shares of Otis Worldwide from $90.00 to $80.00 and set an "underweight" rating on the stock in a report on Wednesday, April 1st. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Otis Worldwide in a report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $98.90.

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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