Stoneridge Investment Partners LLC Purchases New Position in Otis Worldwide Corporation $OTIS

Stoneridge Investment Partners LLC purchased a new position in Otis Worldwide Corporation (NYSE:OTIS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,092 shares of the company’s stock, valued at approximately $582,000.

Several other institutional investors and hedge funds have also bought and sold shares of OTIS. Norges Bank purchased a new position in shares of Otis Worldwide during the 4th quarter worth approximately $770,125,000. Millennium Management LLC lifted its stake in shares of Otis Worldwide by 1,047.0% in the 4th quarter. Millennium Management LLC now owns 2,387,466 shares of the company’s stock valued at $208,545,000 after purchasing an additional 2,179,314 shares during the period. Van ECK Associates Corp lifted its stake in shares of Otis Worldwide by 97.9% in the 4th quarter. Van ECK Associates Corp now owns 4,002,589 shares of the company’s stock valued at $349,626,000 after purchasing an additional 1,979,819 shares during the period. AQR Capital Management LLC boosted its position in shares of Otis Worldwide by 125.7% during the third quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company’s stock valued at $236,891,000 after purchasing an additional 1,445,904 shares in the last quarter. Finally, Scharf Investments LLC bought a new stake in shares of Otis Worldwide during the third quarter valued at approximately $73,200,000. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Otis Worldwide News Summary

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 Stock Down 0.6%

Shares of OTIS opened at $72.61 on Friday. The stock has a market cap of $27.64 billion, a P/E ratio of 18.67, a P/E/G ratio of 2.56 and a beta of 0.89. The business’s 50 day moving average price is $72.54 and its 200-day moving average price is $78.22. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $94.57.

Otis Worldwide (NYSE:OTIS) last posted 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. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.76 billion. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities analysts anticipate that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s dividend payout ratio is currently 45.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a report on Tuesday, July 28th. Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday. UBS Group set a $105.00 target price on shares of Otis Worldwide in a report on Thursday, April 23rd. Barclays reduced their target price on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 23rd. Finally, Sanford C. Bernstein decreased their price target on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $92.91.

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.