iA Global Asset Management Inc. Takes Position in Otis Worldwide Corporation $OTIS

iA Global Asset Management Inc. purchased a new stake in Otis Worldwide Corporation (NYSE:OTIS) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 44,545 shares of the company’s stock, valued at approximately $3,189,000.

Other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in Otis Worldwide by 5.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company’s stock worth $202,000 after purchasing an additional 123 shares in the last quarter. Boyd Watterson Asset Management LLC OH grew its position in shares of Otis Worldwide by 4.0% during the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company’s stock worth $281,000 after purchasing an additional 124 shares in the last quarter. Moors & Cabot Inc. grew its position in shares of Otis Worldwide by 2.7% during the 4th quarter. Moors & Cabot Inc. now owns 4,741 shares of the company’s stock worth $414,000 after purchasing an additional 126 shares in the last quarter. Composition Wealth LLC increased its holdings in shares of Otis Worldwide by 4.2% during the fourth quarter. Composition Wealth LLC now owns 3,258 shares of the company’s stock worth $285,000 after purchasing an additional 131 shares during the period. Finally, Stephens Inc. AR increased its holdings in shares of Otis Worldwide by 2.6% during the fourth quarter. Stephens Inc. AR now owns 5,222 shares of the company’s stock worth $456,000 after purchasing an additional 132 shares during the period. 88.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on OTIS shares. Sanford C. Bernstein cut their price target on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. UBS Group set a $105.00 price objective on Otis Worldwide in a research note on Thursday, April 23rd. Evercore reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Otis Worldwide in a report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 target price on Otis Worldwide in a research report on Tuesday, July 28th. Finally, Barclays reduced their target price on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $92.91.

Otis Worldwide Stock Down 1.2%

Otis Worldwide stock opened at $73.06 on Friday. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $94.57. The business’s 50-day moving average price is $72.49 and its two-hundred day moving average price is $78.26. The stock has a market cap of $27.81 billion, a PE ratio of 18.78, a P/E/G ratio of 2.60 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting 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 firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the business earned $1.05 earnings per share. The business’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 business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be given a $0.44 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is currently 45.24%.

Key Headlines Impacting Otis Worldwide

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

• Negative Sentiment: Zacks cut its FY2026 EPS estimate to $4.04 from $4.22, FY2027 to $4.41 from $4.67, and FY2028 to $4.89 from $5.23. The reductions lower the projected earnings trajectory for Otis and may pressure valuation.
• Negative Sentiment: Quarterly estimates were also reduced: Q1 2027 EPS fell to $1.02 from $1.05, Q2 2027 to $1.12 from $1.16, Q3 2027 to $1.12 from $1.21, Q4 2027 to $1.15 from $1.24, Q1 2028 to $1.12 from $1.19, and Q2 2028 to $1.26 from $1.31.
• Neutral Sentiment: The revised FY2026 forecast of $4.04 remains close to the broader consensus estimate of $4.02, limiting the immediate significance of the cut but indicating little earnings upside relative to current expectations.

Otis Worldwide 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.