iA Global Asset Management Inc. Makes New $3.19 Million Investment in Otis Worldwide Corporation $OTIS

iA Global Asset Management Inc. bought a new stake in Otis Worldwide Corporation (NYSE:OTIS) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 44,545 shares of the company’s stock, valued at approximately $3,189,000.

Other hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in shares of Otis Worldwide by 5.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company’s stock valued at $202,000 after buying an additional 123 shares during the period. Boyd Watterson Asset Management LLC OH boosted its position in Otis Worldwide by 4.0% during the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company’s stock worth $281,000 after buying an additional 124 shares during the period. Moors & Cabot Inc. boosted its position in Otis Worldwide by 2.7% during the 4th quarter. Moors & Cabot Inc. now owns 4,741 shares of the company’s stock worth $414,000 after buying an additional 126 shares during the period. Composition Wealth LLC grew its holdings in Otis Worldwide by 4.2% during the 4th quarter. Composition Wealth LLC now owns 3,258 shares of the company’s stock worth $285,000 after acquiring an additional 131 shares during the last quarter. Finally, Stephens Inc. AR grew its holdings in Otis Worldwide by 2.6% during the 4th quarter. Stephens Inc. AR now owns 5,222 shares of the company’s stock worth $456,000 after acquiring an additional 132 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Price Performance

Shares of NYSE:OTIS opened at $73.06 on Friday. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The business’s 50-day moving average is $72.49 and its 200-day moving average is $78.26. The company has a market capitalization of $27.81 billion, a price-to-earnings ratio of 18.78, a P/E/G ratio of 2.60 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Analysts anticipate that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Announces Dividend

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

Otis Worldwide News Roundup

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

• Negative Sentiment: Zacks cut its FY2026 EPS estimate to $4.04 from $4.22, FY2027 to $4.41 from $4.67, and FY2028 to $4.89 from $5.23. The reductions lower the projected earnings trajectory for Otis and may pressure valuation.
• Negative Sentiment: Quarterly estimates were also reduced: Q1 2027 EPS fell to $1.02 from $1.05, Q2 2027 to $1.12 from $1.16, Q3 2027 to $1.12 from $1.21, Q4 2027 to $1.15 from $1.24, Q1 2028 to $1.12 from $1.19, and Q2 2028 to $1.26 from $1.31.
• Neutral Sentiment: The revised FY2026 forecast of $4.04 remains close to the broader consensus estimate of $4.02, limiting the immediate significance of the cut but indicating little earnings upside relative to current expectations.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OTIS. Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a research note on Tuesday, July 28th. Evercore reissued an “outperform” rating and issued a $95.00 price objective on shares of Otis Worldwide in a research note on Thursday, July 23rd. Sanford C. Bernstein lowered 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday. Finally, Morgan Stanley set a $75.00 price objective on Otis Worldwide in a research note on Monday. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.