Levin Capital Strategies L.P. Invests $6.77 Million in Otis Worldwide Corporation $OTIS

Levin Capital Strategies L.P. bought a new position in Otis Worldwide Corporation (NYSE:OTIS) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 94,550 shares of the company’s stock, valued at approximately $6,770,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pinnacle Financial Partners Inc. raised its stake in shares of Otis Worldwide by 19.6% in the third quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock worth $7,085,000 after buying an additional 12,721 shares during the period. Capital Research Global Investors increased its holdings in Otis Worldwide by 0.6% in the 4th quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock worth $248,417,000 after acquiring an additional 18,189 shares in the last quarter. Lazard Freres Gestion S.A.S. raised its stake in Otis Worldwide by 21.9% during the 4th quarter. Lazard Freres Gestion S.A.S. now owns 1,309,160 shares of the company’s stock worth $114,355,000 after acquiring an additional 235,316 shares during the period. Danske Bank A S raised its stake in Otis Worldwide by 13.3% during the 4th quarter. Danske Bank A S now owns 225,994 shares of the company’s stock worth $19,741,000 after acquiring an additional 26,500 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd lifted its holdings in Otis Worldwide by 172.5% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 98,100 shares of the company’s stock valued at $8,569,000 after purchasing an additional 62,100 shares in the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on OTIS shares. Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a research report on Tuesday, July 28th. 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 research note on Thursday, April 23rd. Sanford C. Bernstein dropped their target price on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Finally, 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. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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 Trading Down 0.6%

Shares of OTIS opened at $72.61 on Friday. The business’s 50 day moving average is $72.54 and its 200 day moving average is $78.22. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $94.57. The company has a market capitalization of $27.64 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 2.57 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last posted 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 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 prior year, the company posted $1.05 EPS. The firm’s revenue for the quarter 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 research analysts predict that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Announces Dividend

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 issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s payout ratio is 45.24%.

Otis Worldwide Company 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.