TD Waterhouse Canada Inc. Purchases 10,842 Shares of Otis Worldwide Corporation $OTIS

TD Waterhouse Canada Inc. raised its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 175.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,033 shares of the company’s stock after buying an additional 10,842 shares during the period. TD Waterhouse Canada Inc.’s holdings in Otis Worldwide were worth $1,203,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of OTIS. Pinnacle Financial Partners Inc. increased its holdings in Otis Worldwide by 19.6% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock valued at $7,085,000 after purchasing an additional 12,721 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Otis Worldwide by 0.6% in the fourth quarter. Capital Research Global Investors now owns 2,843,926 shares of the company’s stock valued at $248,417,000 after buying an additional 18,189 shares during the last quarter. Lazard Freres Gestion S.A.S. lifted its position 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 buying an additional 235,316 shares in the last quarter. Danske Bank A S grew its holdings 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 last quarter. Finally, ICICI Prudential Asset Management Co Ltd increased its position in Otis Worldwide by 172.5% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 98,100 shares of the company’s stock valued at $8,569,000 after acquiring an additional 62,100 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.

Trending Headlines about Otis Worldwide

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.

Otis Worldwide Trading Down 1.2%

Otis Worldwide stock 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 company has a market cap of $27.81 billion, a PE ratio of 18.78, a PEG ratio of 2.60 and a beta of 0.89. The company’s 50-day moving average is $72.49 and its two-hundred day moving average is $78.26.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the firm earned $1.05 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Research analysts forecast that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Dividend Announcement

The firm 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 $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 yield of 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is presently 45.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OTIS. Evercore reiterated an “outperform” rating and set a $95.00 target price on shares of Otis Worldwide in a research report on Thursday, July 23rd. UBS Group set a $105.00 price objective on shares of Otis Worldwide in a research report on Thursday, April 23rd. Barclays reduced their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 23rd. Sanford C. Bernstein decreased their price objective on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. Finally, Morgan Stanley set a $75.00 target price on Otis Worldwide in a research note on Monday. Four equities 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. Based on data from MarketBeat, the company 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.