Otis Worldwide Corporation (NYSE:OTIS) Given Average Rating of “Hold” by Analysts

Shares of Otis Worldwide Corporation (NYSE:OTIS) have received an average rating of “Hold” from the nine research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $103.7143.

Several research analysts have weighed in on OTIS shares. Zacks Research raised shares of Otis Worldwide from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Royal Bank Of Canada decreased their price objective on Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, July 28th. JPMorgan Chase & Co. increased their price objective on Otis Worldwide from $105.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Otis Worldwide in a research report on Wednesday. Finally, Wells Fargo & Company increased their target price on shares of Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th.

Otis Worldwide Stock Up 1.3%

Shares of NYSE OTIS opened at $88.02 on Friday. The business’s 50 day moving average price is $90.48 and its two-hundred day moving average price is $92.34. The company has a market cap of $34.30 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 3.36 and a beta of 1.00. Otis Worldwide has a twelve month low of $84.25 and a twelve month high of $106.83.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.05. Otis Worldwide had a negative return on equity of 30.67% and a net margin of 9.41%.The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the previous year, the firm earned $0.96 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. As a group, research analysts anticipate that Otis Worldwide will post 4.04 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.68 annualized dividend and a yield of 1.9%. Otis Worldwide’s payout ratio is currently 49.56%.

Insider Buying and Selling at Otis Worldwide

In other news, CAO Michael Patrick Ryan sold 3,028 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $91.69, for a total transaction of $277,637.32. Following the sale, the chief accounting officer directly owned 2,628 shares of the company’s stock, valued at approximately $240,961.32. This represents a 53.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On Otis Worldwide

A number of large investors have recently bought and sold shares of the company. Berkshire Money Management Inc. lifted its holdings in shares of Otis Worldwide by 5.0% during the 2nd quarter. Berkshire Money Management Inc. now owns 2,100 shares of the company’s stock worth $208,000 after acquiring an additional 100 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Otis Worldwide by 0.8% in the 2nd quarter. Park Avenue Securities LLC now owns 13,876 shares of the company’s stock valued at $1,374,000 after purchasing an additional 104 shares in the last quarter. Oakworth Capital Inc. increased its stake in shares of Otis Worldwide by 49.1% in the 3rd quarter. Oakworth Capital Inc. now owns 343 shares of the company’s stock valued at $31,000 after purchasing an additional 113 shares during the last quarter. Cookson Peirce & Co. Inc. raised its holdings in shares of Otis Worldwide by 1.8% during the 3rd quarter. Cookson Peirce & Co. Inc. now owns 6,615 shares of the company’s stock worth $605,000 after buying an additional 115 shares in the last quarter. Finally, OLD National Bancorp IN raised its holdings in shares of Otis Worldwide by 5.5% during the 3rd quarter. OLD National Bancorp IN now owns 2,245 shares of the company’s stock worth $205,000 after buying an additional 118 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Company Profile

Otis Worldwide Corporation engages in manufacturing, installation, and servicing of elevators and escalators in the United States, China, and internationally. The company operates in two segments, New Equipment and Service. The New Equipment segment designs, manufactures, sells, and installs a range of passenger and freight elevators, as well as escalators and moving walkways for residential and commercial buildings, and infrastructure projects.