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Overview
Otis designs, manufactures, installs, and services elevators, escalators, and moving walkways for buildings. Its New Equipment segment designs, sells, and installs these systems, while the Service segment handles ongoing maintenance, repairs, and modernization. The business combines upfront equipment sales with long-term service contracts to provide ongoing revenue and customer support. Its goal is to keep people moving safely and efficiently around the world, including upgrading older systems through modernization and infrastructure projects.
About Otis
Industries
Hardware
Industrial & Manufacturing
Real Estate
Company Size
N/A
Company Stage
IPO
Headquarters
Farmington, Minnesota
Founded
1853
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Simplify's Take
What believers are saying
- Q2 2026 service momentum strengthened on modernization and repair demand, boosting backlog.
- Otis won Prestige at Mahalaxmi in July 2026, including India's fastest elevators.
- Singapore and Vietnam/Cambodia leadership appointments in 2026 sharpen execution across dense Asian markets.
What critics are saying
- Otis cut 2026 adjusted EPS guidance on July 22, 2026, signaling margin pressure.
- India's Supreme Court upheld July 29, 2026 liability for the 2003 RAW lift death.
- RTX still disputes Otis's German tax indemnity, prolonging cash leakage through 2026.
What makes Otis unique
- Otis runs 2.5 million serviced units, creating switching costs and recurring revenue.
- On April 13, 2026, Otis bought WeMaintain majority control for service-tech capabilities.
- Gen3, Gen360, Robust, and Viva target aging buildings, data centers, and high-rises.
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Funding
Total Funding
$1.5B
Above
Industry Average
Funded Over
1 Rounds
Benefits
Professional Development Budget
Mental Health Support
Stock Price
Company News
Finally fixed: Seminary Apartments elevator is back in service. Submitted by tim on Fri, 07/17/2026 - 15:51 Seminary Apartments resident Victoria Maradiaga Ramos takes the building's newly fixed elevator on Thursday. Photo by Otis Roessler The elevator had been broken for more than five months. After more than five months of being out of order, the elevator in the Green Mountain Seminary apartment complex in Waterbury has been fixed, the building's owner said Thursday. The development comes less than a week after the Waterbury Roundabout published a story detailing the frustrations of the tenants, some of whom are elderly or disabled. Fire department officials said they'd had to manually move patients down the stairwell of the three-story building. One man, an 84-year-old veteran with cancer, said he filed a complaint about the situation with the Vermont Human Rights Commission. The building owner, Downstreet Housing & Community Development in Barre, hired Otis Elevator to fix the problem. But over the last few months, the company missed several deadlines and, as of late last week, provided no concrete timeline for when the elevator would be up and running. On Monday, repairs were delayed once again due to technical issues. Finally, on Wednesday, July 15, Otis Elevator employee Garrick Cassavant emailed Downstreet's Leah Sare to inform her that the elevator was back in service, according to emails obtained by the Roundabout. "It's nice that there's some good news," Downstreet's executive director Angie Harbin told the Roundabout on Thursday. Delays in the repair process have taken a toll on building residents. After five and a half months of living without an elevator, Victoria Maradiaga Ramos said she is hesitant to believe that the saga is over. In February, Ramos called emergency responders after a fellow tenant had gotten trapped in the elevator with her infant son. "I don't trust it," Ramos said at the building on Thursday. In Ramos' view, the elevator is still faulty. Upon entering the elevator for a trip from the first to the ground floor, the door began to close slowly and the alarm began to ring. Ramos said that same alarm rang before the elevator initially broke. However, after exiting the elevator and trying again, it ran smoothly. Ramos believes that without the elevator's newfound notoriety, it might have taken longer to be repaired. "I don't think they would've fixed it," she said. The Seminary Apartments on Hollow Road are one of four apartment complexes owned and managed by Downstreet in Waterbury. While she said she was relieved to have the elevator repairs finally done, Harbin said she wants to avoid a similar situation at other properties in the future. She said Downstreet now is looking into funding to inspect every elevator in its portfolio. With lengthy elevator repair times and numerous buildings with just one elevator, Downstreet officials said they hope they can get in front of future malfunctions. "I'm hoping I'll be able to secure those [funds] within the next month," Harbin said, explaining that this is "backup" for which her organization needs to request further grant money. With proper analysis, Harbin said, Downstreet will be able to document any issues with its elevators and estimate the cost of preemptive maintenance and repairs. Via Community News Service, a University of Vermont internship, on assignment for the Waterbury Roundabout WATERBURY - Jul 17, 2026 To support vital journalism, access its archives and get unique features like its award-winning profiles, Book of Lists & Business-to-Business Directory, subscribe HERE! Vermont Business Magazine
Otis names Alex Kim Managing Director for Vietnam and Cambodia operations. Otis Worldwide (NYSE: OTIS) appointed Alex Kim as Managing Director for Vietnam and Cambodia, placing the world's largest elevator and escalator company's regional operations under new leadership in Ho Chi Minh City. HO CHI MINH CITY, Vietnam, July 1, 2026 /PRNewswire/ - Otis Worldwide Corporation (NYSE: OTIS), the world's leading elevator and escalator manufacturing, installation, service and modernization company, today announced the appointment of Alex Kim as Managing Director, Vietnam and Cambodia, effective 1 July 2026. In this role, Alex will strengthen Otis' position in Vietnam and Cambodia's rapidly evolving construction markets by helping customers meet growing demand for safe, reliable and innovative vertical transportation. Nico Lopez, President, Otis Asia Pacific, said: "Alex brings with him years of expertise in high-growth markets and deep operational knowledge in our industry. His strong understanding of Vietnam and Cambodia, along with a clear focus on service excellence, will help to continue strengthening the customer experience across both countries." "As demand for high-rise and mixed-use developments accelerates in Vietnam and Cambodia, alongside major infrastructure projects, Otis is well positioned to deliver the advanced technologies and solutions that enhance building performance and the passenger experience for our customers," said Alex. "We are focused on strengthening our service capabilities and delivering consistently excellent outcomes that our customers can rely on, guided by our Otis Absolutes of Safety, Ethics and Quality." Alex brings nearly 30 years of field experience to the role. He joined Otis in 2000 and previously served as Acting Managing Director for Vietnam and Cambodia from 2011 to 2016, strengthening the local organisation and expanding market presence. Most recently, he was Export Sales Director at Sigma, an Otis subsidiary, where he led distributor operations across global markets. To learn more, visit www.otis.com and follow Vietnam Investment Review on LinkedIn, YouTube, Instagram and Facebook @OtisElevatorCo.
Pictet Asset Management Holding SA has $106.67 million stock position in Otis Worldwide Corporation $OTIS. June 29, 2026 Key points. * Pictet Asset Management increased its Otis Worldwide stake by 46.9% in the first quarter, buying 441,841 additional shares and bringing its holding to 1.38 million shares worth about $106.7 million. * Otis reported quarterly EPS of $0.89, missing estimates, and revenue of $3.57 billion, also below expectations, though revenue still rose 6.4% year over year. The company also reaffirmed FY 2026 EPS guidance of 4.20 to 4.24. * Otis raised its quarterly dividend to $0.44 per share from $0.42, implying an annualized dividend of $1.76 and a yield of about 2.4%. * MarketBeat previews the top five stocks to own by July 1st. Pictet Asset Management Holding SA raised its position in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 46.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,384,014 shares of the company's stock after purchasing an additional 441,841 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.36% of Otis Worldwide worth $106,669,000 at the end of the most recent quarter. Several other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Otis Worldwide in the 4th quarter valued at approximately $770,125,000. Millennium Management LLC lifted its stake in Otis Worldwide by 1,047.0% in the fourth quarter. Millennium Management LLC now owns 2,387,466 shares of the company's stock valued at $208,545,000 after acquiring an additional 2,179,314 shares during the last quarter. Van ECK Associates Corp lifted its stake in Otis Worldwide by 97.9% in the fourth quarter. Van ECK Associates Corp now owns 4,002,589 shares of the company's stock valued at $349,626,000 after acquiring an additional 1,979,819 shares during the last quarter. AQR Capital Management LLC grew its position in Otis Worldwide by 125.7% in the third quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company's stock worth $236,891,000 after acquiring an additional 1,445,904 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in Otis Worldwide by 199.6% in the third quarter. Squarepoint Ops LLC now owns 2,030,095 shares of the company's stock worth $185,612,000 after acquiring an additional 1,352,530 shares in the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds. Otis Worldwide trading up 0.2%. Shares of Otis Worldwide stock opened at $73.32 on Monday. The firm has a fifty day simple moving average of $73.67 and a 200-day simple moving average of $82.06. The stock has a market capitalization of $28.13 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 2.39 and a beta of 0.91. Otis Worldwide Corporation has a 1-year low of $69.16 and a 1-year high of $101.42. Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.02). The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The business's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, research analysts predict that Otis Worldwide Corporation will post 4.2 earnings per share for the current year. Otis Worldwide increases dividend. The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 15th were given a $0.44 dividend. This is an increase from Otis Worldwide's previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, May 15th. Otis Worldwide's dividend payout ratio (DPR) is 46.81%. Analysts set new price targets. Several equities research analysts recently issued reports on OTIS shares. Barclays reduced their price objective on shares of Otis Worldwide from $80.00 to $77.00 and set an "underweight" rating for the company in a research note on Thursday, April 23rd. Royal Bank Of Canada lowered their target price on shares of Otis Worldwide from $110.00 to $105.00 and set an "outperform" rating on the stock in a research report on Thursday, April 23rd. Weiss Ratings cut Otis Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, May 15th. Evercore started coverage on Otis Worldwide in a research report on Monday, April 13th. They issued an "outperform" rating and a $100.00 price target for the company. Finally, Wolfe Research downgraded Otis Worldwide from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $97.58. 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. Further reading. Want to see what other hedge funds are holding OTIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Otis Worldwide Corporation (NYSE:OTIS - Free Report). This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider Otis Worldwide, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Otis Worldwide wasn't on the list. While Otis Worldwide currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys. Enter your email address and we'll send you MarketBeat's list of ten stocks set to soar in Summer 2026, despite the threat of tariffs and what's happening in Iran. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Volley Automation Moves headquarters to Denver. Volley Team June 2, 2026 Volley Automation, Inc. is planting its flag in Colorado, and building the future of parking from here. Earlier this week, the Denver Gazette featured Volley Automation in its Metro Moves column, covering its headquarters relocation from San Francisco to Denver. It's official: Colorado is now home base for everything Volley Automation, Inc. do. Why Denver. Denver sits at the geographic center of its current and planned projects: three active installations in New York, one in Nashville, and a pipeline spanning Florida, California, and Massachusetts. When your technology ships inside buildings across the country, being two(ish) hours from either coast matters. But the real draw is talent. Colorado's engineering and robotics ecosystem is deep, and growing, and Volley Automation, Inc. is already hiring world-class locals without burning through capital on Bay Area real estate & overhead. Its CEO Sam Richardson put it plainly: "Denver gives us access to the mechanical, electrical, and software engineering talent we need, at a cost structure that lets us invest in R&D instead of rent." What Volley Automation, Inc. is building. Its new facility at 5675 N. Pecos Street has enough room for full-scale system assembly, integration testing, and the R&D work that's next on its roadmap. That includes retrofit solutions for existing garages and infrastructure to support autonomous vehicle fleets and EV charging at scale. Volley Automation, Inc. currently have eight employees in Colorado with plans to hire at least five more this year across engineering, operations, and project delivery roles, as well as a network of remote roles in engineering and sales. What this means for its partners. For the developers, architects, and property owners Volley Automation, Inc. work with: nothing changes about how Volley Automation, Inc. deliver projects. Its partnerships with Otis (vertical transport), Hito Robotic System (robotic platforms), and Skanska (construction) remain intact, and Volley Automation, Inc. is developing new partnerships across its technology stack. Additionally, a centrally located HQ with integrated testing capability means faster iteration and tighter QA on the systems Volley Automation, Inc. ship. If you're an architect or developer working on a dense urban project and parking is eating your pro forma alive, Volley Automation, Inc.'ll happily invite you to Denver.
Otis India receives order for proposed country's tallest commercial building. 1 min to read The Prestige at Mahalaxmi, Mumbai, India; image courtesy of Prestige Group via Upcoming Properties Otis India has received an order from real estate company Prestige Estates to install two elevators that can travel at 10 m/s at the under-construction The Prestige at Mahalaxmi, Mumbai, India, which will be the country's tallest commercial building when complete, The Hindu is among outlets to report. Once installed, these will be the fastest elevators in India. At 70 floors, The Prestige is set to be the country's only commercial development with an observation deck. The elevator is expected to feature a unique 360-degree immersive video experience for passengers. The building will also have India's first Otis-made double-deck elevators featuring two cabins operating within a single shaft. Otis will supply and install five self-climbing Otis SkyBuild(TM) elevators designed to safely and efficiently move construction workers and materials during the construction phase before transitioning into permanent SkyRise(TM) high-rise elevators. The company's Compass(R) 360 destination-management system provides easy travel for passengers, and Otis' ReGen drives will capture energy usually wasted as heat and return it to the building for use as power. DAILY NEWS
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About Otis
Industries
Hardware
Industrial & Manufacturing
Real Estate
Company Size
N/A
Company Stage
IPO
Headquarters
Farmington, Minnesota
Founded
1853
Otis is Hiring for 250 Jobs on Simplify!
Find jobs on Simplify and start your career today