Otis Worldwide Corporation $OTIS Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC trimmed its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,066 shares of the company’s stock after selling 7,612 shares during the quarter. Welch & Forbes LLC owned approximately 0.06% of Otis Worldwide worth $17,046,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. State Street Corp boosted its holdings in Otis Worldwide by 0.8% during the fourth quarter. State Street Corp now owns 16,128,197 shares of the company’s stock worth $1,408,798,000 after buying an additional 121,207 shares in the last quarter. Geode Capital Management LLC increased its holdings in Otis Worldwide by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 10,788,225 shares of the company’s stock valued at $945,020,000 after buying an additional 29,636 shares in the last quarter. Norges Bank acquired a new position in shares of Otis Worldwide in the fourth quarter worth about $770,125,000. Franklin Resources Inc. raised its position in shares of Otis Worldwide by 5.7% in the fourth quarter. Franklin Resources Inc. now owns 7,842,153 shares of the company’s stock worth $685,012,000 after acquiring an additional 422,519 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Otis Worldwide by 97.9% during the 4th quarter. Van ECK Associates Corp now owns 4,002,589 shares of the company’s stock worth $349,626,000 after acquiring an additional 1,979,819 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on OTIS shares. Morgan Stanley set a $75.00 target price on Otis Worldwide in a research report on Monday. Barclays lowered their price target 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday. Sanford C. Bernstein cut their price objective 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. Finally, UBS Group set a $105.00 target price on Otis Worldwide in a research note on Thursday, April 23rd. 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $92.91.

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 Stock Down 0.6%

Shares of NYSE OTIS opened at $72.61 on Friday. The company’s 50-day simple moving average is $72.54 and its 200-day simple moving average is $78.22. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $94.57. The firm has a market cap of $27.64 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 2.57 and a beta of 0.89.

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

Otis Worldwide Announces Dividend

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

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.