94,550 Shares in Otis Worldwide Corporation $OTIS Purchased by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. acquired a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 94,550 shares of the company’s stock, valued at approximately $6,770,000.

Several other institutional investors also recently bought and sold shares of the company. Ascent Wealth Partners LLC increased its stake in Otis Worldwide by 4.1% during the 2nd quarter. Ascent Wealth Partners LLC now owns 10,158 shares of the company’s stock valued at $727,000 after purchasing an additional 397 shares in the last quarter. Aberdeen Group plc raised its position in Otis Worldwide by 7.0% in the 2nd quarter. Aberdeen Group plc now owns 361,495 shares of the company’s stock worth $25,883,000 after buying an additional 23,615 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Otis Worldwide by 0.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 78,675 shares of the company’s stock valued at $5,633,000 after acquiring an additional 570 shares during the period. Sterneck Capital Management LLC lifted its stake in Otis Worldwide by 39.0% during the 2nd quarter. Sterneck Capital Management LLC now owns 7,005 shares of the company’s stock valued at $502,000 after acquiring an additional 1,967 shares during the period. Finally, Lecap Asset Management Ltd. boosted its holdings in shares of Otis Worldwide by 42.8% during the 2nd quarter. Lecap Asset Management Ltd. now owns 19,603 shares of the company’s stock valued at $1,404,000 after acquiring an additional 5,877 shares during the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Stock Performance

OTIS stock opened at $72.61 on Friday. The company has a market cap of $27.64 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 2.57 and a beta of 0.89. The business’s 50-day moving average is $72.54 and its two-hundred day moving average is $78.22. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $94.57.

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

Otis Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is presently 45.24%.

Analysts Set New Price Targets

A number of analysts have recently commented on OTIS shares. Evercore reiterated an “outperform” rating and issued a $95.00 price target on shares of Otis Worldwide in a research note on Thursday, July 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday. UBS Group set a $105.00 target price on shares of Otis Worldwide in a report on Thursday, April 23rd. Morgan Stanley set a $75.00 target price on shares of Otis Worldwide in a research report on Monday. Finally, Royal Bank Of Canada set a $90.00 target price on shares of Otis Worldwide in a research note on Tuesday, July 28th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $92.91.

Key Stories Impacting 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.