Forbes J M 13F: Exits Otis Worldwide (OTIS) Stake

Forbes J M sold its entire position in Otis Worldwide Corporation (NYSE: OTIS), cutting 2,806 shares in a filing on October 16, 2026. This move leaves the fund with no holdings in the company, following a significant reduction earlier this year when it trimmed its stake by over 380,000 shares in May.

What Changed in Forbes J M's Otis Worldwide Position

Forbes J M sold out of its position in Otis Worldwide, going from 2,806 shares to zero. The cut represents a 100% decrease in its holdings.

Other Institutional Activity in Otis Worldwide

Several other institutional investors have also adjusted their positions in Otis Worldwide. Blackrock Inc. reduced its stake by 599,285 shares, ending with 31,620,354 shares valued at about $2.26 billion. Vanguard Capital Management LLC cut its holdings by 194,469 shares, maintaining 25,061,198 shares worth roughly $1.79 billion. Meanwhile, State Street Corporation increased its position by 463,367 shares, bringing its total to 16,664,994 shares valued at approximately $1.19 billion.

Otis Worldwide Corporation Stock Up 0.6%

Otis Worldwide stock is currently trading around $70.80 as of October 16, 2026. This price is above its 52-week low of $63.58 but still about 25.1% below its 52-week high of $94.57. The shares are above their 50-day moving average of $69.40 but below the 200-day average of $77.15.

Recent Earnings

In its trailing twelve months, Otis Worldwide reported revenue of about $14.91 billion and earnings per share of $3.89. The company has a net margin of 10.2%. Its next earnings report is scheduled for October 28, 2026.

Dividend

Otis Worldwide pays an annual dividend rate of $1.76, which corresponds to a yield of 2.5%. The payout ratio stands at 43.7%.

Insider Buying and Selling at Otis Worldwide Corporation

Recent insider transactions include Nora E. Lafreniere, General Counsel, who sold 27,418 shares at an average price of $90.38 on February 10, 2026, totaling about $2.48 million. Other insiders, including Michael Patrick Ryan and Montlivault Stephane De, also sold shares earlier this year.

Analysts Set New Price Targets

On July 23, 2026, Bernstein maintained its rating of Outperform on Otis Worldwide with a price target of $90.00, down from $97.00. Evercore ISI Group also maintained an Outperform rating with a target of $95.00, reduced from $100.00. Wells Fargo initiated an Underweight rating with a target of $77.00 on September 25, 2026. The current analyst consensus recommends a buy, with a mean price target of approximately $86.54.

About Otis Worldwide

Otis Worldwide Corporation is a global leader in the manufacturing, installation, and servicing of elevators and escalators. Based in Farmington, Connecticut, the company plays a significant role in urban infrastructure, focusing on both new equipment and service segments to meet the demands of residential and commercial customers.

Bottom Line

Investors should keep an eye on Otis Worldwide as it approaches its earnings report on October 28, 2026. The recent changes in institutional holdings, particularly Forbes J M's complete sell-off, highlight shifts in sentiment around the company's stock performance. Remember that this filing reflects the fund's holdings as of the reporting period and may not represent its current position.