Evergreen Capital Management 13F: Cuts OTIS Stake by $3.4M

Evergreen Capital Management cut its stake in Otis Worldwide Corporation (NYSE:OTIS) by 76.1%, selling 52,681 shares during the period. According to a Form 13F filing submitted to the Securities and Exchange Commission on October 23, 2026, the fund held 16,586 shares worth about $1.07 million at the end of the reporting window, down from its prior holding of 69,267 shares.

OTIS Otis Worldwide Corporation

$75.15 ▼ -13.50% year to date

1M 3M YTD

Daily close · Oct 23, 2026

What Changed in Evergreen Capital Management's Otis Worldwide Position

The fund pared back its exposure to the elevator and escalator manufacturer significantly, dropping its share count from 69,267 down to 16,586. The remaining stake reflects a notable shift as the firm trimmed roughly three-quarters of its investment in the industrial machinery specialist.

Other Institutional Activity in Otis Worldwide

Other large investors also adjusted their positions in the stock around the same time. Fundsmith reduced its holdings by 380,745 shares, ending with 2,731,635 shares valued at about $195.6 million. PensionDanmark Pensionsforsikringsaktieselskab cut its stake by 80.4%, parting with 48,636 shares to hold 11,880 shares worth approximately $764,122. Forbes J M closed out its position entirely by selling its remaining 2,806 shares. Meanwhile, Franklin Resources, Inc. grew its investment by 2.3%, adding 262,690 shares to finish with 11,784,188 shares worth about $885.6 million.

Otis Worldwide Corporation Stock Up 3.9%

Otis Worldwide closed at $75.15 on October 23, 2026, and recently traded around that same level as of October 24, 2026. The stock sits about 8.5% above its 50-day moving average of $69.29, while trading roughly 2.1% below its 200-day moving average of $76.74. Shares have ranged from a 52-week low of $63.58 to a high of $94.57 over the past year.

Recent Earnings

Otis Worldwide reported trailing twelve-month revenue of $14.91 billion and earnings of $3.89 per share. The company operates with a net profit margin of 10.2% and a return on equity profile supported by its manufacturing and service divisions. The next quarterly earnings update is scheduled for October 28, 2026.

Dividend

Eligible shareholders receive an annual dividend rate of $1.76 per share, translating to a dividend yield of 2.33%. The payout ratio stands at 43.7% of earnings.

Insider Buying and Selling at Otis Worldwide Corporation

Company insiders completed several share transactions earlier in the year. On February 10, 2026, insider Michael Patrick Ryan sold 1,182 shares at an average price of $90.06 for a total value of $106,445. On the same day, general counsel Nora E. Lafreniere sold 27,418 shares at $90.38 per share, totaling about $2.48 million. Shortly after on February 12, 2026, officer Stephane De Montlivault disposed of 47,944 shares at $92.25 each, bringing in roughly $4.42 million. Later in the spring on May 7, 2026, officer Pierre Marie Lefebure Thibault sold 1,628 shares at $76.89 for a total of $125,184.

Analysts Set New Price Targets

Wall Street firms updated their views on the stock ahead of the filing. On July 23, 2026, Bernstein maintained its outperform rating while lowering its price target from $97.00 to $90.00. On the same day, Evercore ISI Group kept an outperform rating and adjusted its target from $100.00 to $95.00. Later, on September 25, 2026, Wells Fargo initiated coverage on the stock with an underweight rating and a price target of $77.00. Across 13 analyst opinions, the stock carries a consensus buy recommendation and a mean price target of $86.54.

About Otis Worldwide

Headquartered in Farmington, Connecticut, Otis Worldwide Corporation manufactures, installs, and services elevators and escalators globally. The business operates through two main segments focused on new equipment installation as well as long-term modernization, maintenance, and repair services for commercial and residential buildings.

Bottom Line

Investors will watch the upcoming earnings report on October 28, 2026, for fresh details on operational performance across the new equipment and service divisions. Monitoring subsequent 13F filings will also show whether other institutional holders follow Evergreen Capital's lead in trimming exposure.