Pictet Asset Management Holding SA Has $60.75 Million Holdings in Otis Worldwide Corporation $OTIS

Pictet Asset Management Holding SA cut its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 38.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 848,438 shares of the company’s stock after selling 535,576 shares during the period. Pictet Asset Management Holding SA owned approximately 0.22% of Otis Worldwide worth $60,749,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Jones Financial Companies Lllp grew its position in shares of Otis Worldwide by 3.4% in the 1st quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock valued at $949,000 after purchasing an additional 304 shares during the period. Empowered Funds LLC raised its holdings in Otis Worldwide by 10.5% during the 1st quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock worth $928,000 after buying an additional 857 shares during the period. Acadian Asset Management LLC raised its holdings in Otis Worldwide by 63.7% during the 1st quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock worth $417,000 after buying an additional 1,574 shares during the period. Baird Financial Group Inc. lifted its stake in Otis Worldwide by 7.1% in the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock valued at $3,193,000 after buying an additional 2,132 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Otis Worldwide by 13.3% in the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock valued at $1,012,000 after buying an additional 1,196 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors.

Otis Worldwide Stock Performance

NYSE OTIS opened at $72.61 on Friday. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $94.57. The stock’s 50 day moving average price is $72.54 and its two-hundred day moving average price is $78.22. The stock has a market capitalization of $27.64 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 2.57 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period last year, the business earned $1.05 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities research analysts forecast that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Announces Dividend

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

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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on OTIS shares. Evercore reissued an “outperform” rating and set a $95.00 price objective on shares of Otis Worldwide in a research report on Thursday, July 23rd. Barclays cut their price objective 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. Sanford C. Bernstein reduced their target price 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday. Finally, Morgan Stanley set a $75.00 price target on Otis Worldwide in a research note on Monday. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Otis Worldwide currently has a consensus rating of “Hold” and a consensus price target of $92.91.

About Otis Worldwide

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.