Stoneridge Investment Partners LLC Makes New $582,000 Investment in Otis Worldwide Corporation $OTIS

Stoneridge Investment Partners LLC bought a new position in Otis Worldwide Corporation (NYSE:OTIS) during the 2nd quarter, HoldingsChannel reports. The fund bought 8,092 shares of the company’s stock, valued at approximately $582,000.

A number of other institutional investors have also recently made changes to their positions in the company. Pinnacle Financial Partners Inc. boosted its stake in 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 last quarter. Capital Research Global Investors raised its stake in shares of Otis Worldwide by 0.6% in the fourth quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock worth $248,417,000 after purchasing an additional 18,189 shares during the last quarter. Lazard Freres Gestion S.A.S. raised its stake in shares of Otis Worldwide by 21.9% in the fourth quarter. Lazard Freres Gestion S.A.S. now owns 1,309,160 shares of the company’s stock worth $114,355,000 after purchasing an additional 235,316 shares during the last quarter. Danske Bank A S raised its stake in shares of Otis Worldwide by 13.3% in the fourth quarter. Danske Bank A S now owns 225,994 shares of the company’s stock worth $19,741,000 after purchasing an additional 26,500 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Otis Worldwide by 172.5% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 98,100 shares of the company’s stock valued at $8,569,000 after purchasing an additional 62,100 shares in the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Analyst Ratings Changes

OTIS has been the topic of several recent analyst reports. Barclays dropped their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 23rd. Sanford C. Bernstein decreased their target price on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Morgan Stanley set a $75.00 target price on shares of Otis Worldwide in a research note on Monday, August 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday. Finally, UBS Group set a $105.00 price target on shares of Otis Worldwide in a research note on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $92.91.

Otis Worldwide Price Performance

NYSE OTIS opened at $72.61 on Friday. The stock has a market capitalization of $27.64 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 2.56 and a beta of 0.89. Otis Worldwide Corporation has a 1-year low of $69.16 and a 1-year high of $94.57. The business’s fifty day moving average price is $72.54 and its 200-day moving average price is $78.22.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting the consensus estimate of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. Otis Worldwide’s revenue 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. Equities research analysts anticipate that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Announces Dividend

The company 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. This represents a $1.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s dividend payout ratio (DPR) is presently 45.24%.

Trending Headlines about Otis Worldwide

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

• Positive Sentiment: Despite the cuts, Zacks Research still projects earnings growth from approximately $4.04 per share in fiscal 2026 to $4.41 in fiscal 2027 and $4.89 in fiscal 2028. The fiscal 2026 estimate is also slightly above the broader consensus of $4.03 per share. Otis Worldwide analyst estimates
• Neutral Sentiment: An MSN page provides updated analyst estimates and ratings for Otis Worldwide, but the supplied information does not specify individual analyst recommendations or price targets. Otis Worldwide stock: Analyst estimates and ratings
• Negative Sentiment: Zacks lowered its fiscal 2026 EPS forecast to $4.04 from $4.22, fiscal 2027 to $4.41 from $4.67, and fiscal 2028 to $4.89 from $5.23. These reductions point to weaker expected profitability than previously forecast.
• Negative Sentiment: Quarterly estimates were also reduced: Q3 2026 EPS fell to $1.01 from $1.14, Q4 2026 to $1.13 from $1.18, and Q1 2027 to $1.02 from $1.05. Additional cuts affected Q2 and Q3 2027, Q4 2027, and the first two quarters of 2028.

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.