368,800 Otis Worldwide Corporation $OTIS Shares Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 187.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 565,450 shares of the company’s stock after purchasing an additional 368,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Otis Worldwide were worth $36,370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Otis Worldwide during the 2nd quarter worth approximately $2,264,017,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Otis Worldwide in the 2nd quarter valued at $423,739,000. Canada Pension Plan Investment Board purchased a new position in shares of Otis Worldwide in the 2nd quarter valued at $223,003,000. Bank of New York Mellon Corp acquired a new stake in Otis Worldwide during the 2nd quarter worth $196,298,000. Finally, Bank of America Corp DE acquired a new stake in Otis Worldwide during the 2nd quarter worth $189,233,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OTIS. Weiss Ratings reissued a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Sanford C. Bernstein raised their price objective on Otis Worldwide from $90.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a report on Tuesday, July 28th. Morgan Stanley set a $75.00 target price on Otis Worldwide in a report on Monday, August 10th. Finally, Evercore reissued an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a report on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $91.20.

Key Otis Worldwide News

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 Trading Up 1.8%

Shares of OTIS opened at $75.93 on Friday. The firm has a market cap of $28.90 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 2.62 and a beta of 0.87. The company’s 50 day simple moving average is $69.68 and its 200-day simple moving average is $76.43. Otis Worldwide Corporation has a 12-month low of $63.58 and a 12-month high of $94.57.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, October 28th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.01 by $0.04. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.85 billion. Otis Worldwide had a net margin of 10.28% and a negative return on equity of 28.45%. Otis Worldwide’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 EPS. As a group, equities research analysts forecast that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

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

About Otis Worldwide

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.