PensionDanmark Pensionsforsikringsaktieselskab 13F: Cuts OTIS Stake by $3.1M

PensionDanmark cut its stake in Otis Worldwide Corporation (NYSE: OTIS) by 80.4%, selling 48,636 shares during the period. According to a Form 13F filing on October 19, 2026, the pension fund ended the quarter with 11,880 shares of the elevator and escalator maker. The remaining holding was valued at about $764,122 based on the period's data. Otis Worldwide closed at $71.33 on October 16, 2026.

OTIS Otis Worldwide Corporation

$71.33 ▼ -17.90% year to date

1M 3M YTD

Daily close · Oct 16, 2026

Other Institutional Activity in Otis Worldwide Corporation

Other large investors adjusted their positions in Otis Worldwide around the same time. Fundsmith trimmed its holdings by 380,745 shares to end with 2,731,635 shares worth about $195.59 million. Forbes J M sold out its entire stake, liquidating all 2,806 shares. Franklin Resources, Inc. grew its holdings by 262,690 shares, ending with 11,784,188 shares worth about $837.15 million, a 2.3% increase. ClearBridge Investments, LLC expanded its position significantly, lifting its stake by 4,770,373 shares for a 177.3% increase, ending with 7,461,546 shares valued at about $530.07 million.

Otis Worldwide Corporation Stock Up 0.9%

Shares recently traded around $71.04 as of October 20, 2026, down about 0.4% from the $71.33 close on October 16.

Recent Earnings

Otis Worldwide Corporation posted trailing-twelve-month revenue of $14.91 billion and basic earnings of $3.89 per share. The company reported a net profit margin of 10.2% and year-over-year revenue growth of 7.3%. The next earnings update is scheduled for October 28, 2026.

Dividend

Eligible shareholders receive an annual dividend rate of $1.76 per share, with a payout ratio of 43.7%.

Insider Buying and Selling at Otis Worldwide Corporation

Company insiders completed several stock sales earlier in the year. General Counsel Nora E. Lafreniere sold 27,418 shares on February 10, 2026, at $90.38 per share for a total value of $2.48 million. Officer Michael Patrick Ryan sold 1,182 shares on February 10, 2026, at $90.06 per share totaling $106,445. Officer Montlivault Stephane De disposed of 47,944 shares on February 12, 2026, at $92.25 per share for a value of $4.42 million. Officer Thibault Pierre Marie Lefebure sold 1,628 shares on May 7, 2026, at $76.89 per share totaling $125,184.

Analysts Set New Price Targets

Wall Street firms updated their outlooks on the stock ahead of the filing. On July 23, 2026, Bernstein maintained an Outperform rating on Otis Worldwide while lowering its price target from $97.00 to $90.00. On the same day, Evercore ISI Group kept an Outperform rating while reducing 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 $77.00 price target.

About Otis Worldwide Corporation

Headquartered in Farmington, Connecticut, Otis Worldwide Corporation manufactures, installs, and services elevators, escalators, and moving walkways. The company operates through two main segments focused on new equipment installations and ongoing maintenance services for commercial and residential buildings globally. Institutional portfolio adjustments like PensionDanmark's reduction reflect ongoing shifts in large-cap industrial holdings.

Bottom Line

Investors are keeping a close watch on the upcoming earnings report scheduled for October 28, 2026, to gauge future demand for new equipment and maintenance services. The stock continues to trade near recent closing levels as institutional funds reallocate capital across the industrial sector.