Otis Worldwide Corporation (NYSE:OTIS) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Otis Worldwide Corporation (NYSE:OTIS) have been given an average recommendation of “Hold” by the ten ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $94.0909.

OTIS has been the subject of a number of research reports. Weiss Ratings downgraded Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Sanford C. Bernstein dropped their price objective on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. Barclays cut their price objective on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Finally, Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a research report on Friday, April 24th.

Institutional Investors Weigh In On Otis Worldwide

A number of large investors have recently added to or reduced their stakes in the stock. Camelot Portfolios LLC bought a new stake in shares of Otis Worldwide during the 4th quarter valued at $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Otis Worldwide during the 4th quarter worth $27,000. Elevation Wealth Partners LLC increased its position in shares of Otis Worldwide by 1,910.0% in the second quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock worth $29,000 after purchasing an additional 382 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in shares of Otis Worldwide in the fourth quarter worth $33,000. Finally, Reflection Asset Management bought a new position in shares of Otis Worldwide in the fourth quarter worth $34,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Down 2.3%

Shares of NYSE:OTIS opened at $71.69 on Friday. Otis Worldwide has a 12-month low of $69.16 and a 12-month high of $94.57. The stock has a market cap of $27.29 billion, a PE ratio of 18.43, a P/E/G ratio of 2.60 and a beta of 0.90. The business has a 50 day moving average of $72.09 and a 200-day moving average of $79.43.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Equities research analysts expect that Otis Worldwide will post 4 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, August 14th. Otis Worldwide’s payout ratio is 45.24%.

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.