JPMorgan Chase & Co. Increases Otis Worldwide (NYSE:OTIS) Price Target to $105.00

Otis Worldwide (NYSE:OTIS) had its price target upped by stock analysts at JPMorgan Chase & Co. from $104.00 to $105.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 13.91% from the company’s previous close.

Several other equities research analysts have also commented on the company. Melius started coverage on Otis Worldwide in a research note on Tuesday, April 2nd. They set a “hold” rating for the company. Vertical Research lowered Otis Worldwide from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Barclays upped their price target on Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Otis Worldwide in a research report on Monday, February 5th. Finally, UBS Group upped their target price on Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $96.86.

Otis Worldwide Trading Down 0.9 %

Otis Worldwide stock opened at $92.18 on Thursday. The firm has a market capitalization of $37.26 billion, a P/E ratio of 26.64 and a beta of 1.01. The stock has a fifty day moving average price of $96.44 and a 200 day moving average price of $89.35. Otis Worldwide has a 52 week low of $73.32 and a 52 week high of $100.35.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.44 billion. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. As a group, equities analysts predict that Otis Worldwide will post 3.87 EPS for the current year.

Insider Activity at Otis Worldwide

In related news, CEO Judith Fran Marks sold 37,312 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total value of $3,426,360.96. Following the completion of the transaction, the chief executive officer now owns 192,319 shares of the company’s stock, valued at $17,660,653.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the transaction, the insider now owns 67,274 shares of the company’s stock, valued at approximately $6,128,661.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Judith Fran Marks sold 37,312 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total value of $3,426,360.96. Following the transaction, the chief executive officer now directly owns 192,319 shares in the company, valued at approximately $17,660,653.77. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OTIS. Cetera Trust Company N.A bought a new stake in shares of Otis Worldwide in the 4th quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Otis Worldwide in the 4th quarter worth approximately $28,000. Orion Capital Management LLC bought a new stake in shares of Otis Worldwide in the 3rd quarter worth approximately $30,000. LifeSteps Financial Inc. bought a new stake in shares of Otis Worldwide in the 1st quarter worth approximately $31,000. Finally, NBC Securities Inc. bought a new stake in shares of Otis Worldwide in the 3rd quarter worth approximately $33,000. Institutional investors own 88.03% of the company’s stock.

About Otis Worldwide

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.