Otis Worldwide Co. (NYSE:OTIS) Given Average Rating of “Hold” by Brokerages

Shares of Otis Worldwide Co. (NYSE:OTISGet Free Report) have received an average rating of “Hold” from the eight research firms that are currently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $97.71.

Several equities analysts recently issued reports on the company. UBS Group boosted their price target on Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Barclays boosted their price target on Otis Worldwide from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Argus boosted their price target on Otis Worldwide from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Melius assumed coverage on Otis Worldwide in a research report on Tuesday, April 2nd. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company dropped their price target on Otis Worldwide from $102.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th.

View Our Latest Analysis on Otis Worldwide

Otis Worldwide Price Performance

NYSE OTIS opened at $98.66 on Friday. The company has a market cap of $39.89 billion, a PE ratio of 28.51 and a beta of 1.04. The stock’s 50 day simple moving average is $96.31 and its 200-day simple moving average is $92.83. Otis Worldwide has a 1-year low of $73.32 and a 1-year high of $100.84.

Otis Worldwide (NYSE:OTISGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. The business had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.44 billion. On average, equities research analysts anticipate that Otis Worldwide will post 3.88 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Thursday, May 16th. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.34. Otis Worldwide’s dividend payout ratio is 45.09%.

Insider Transactions at Otis Worldwide

In related news, EVP Peiming Zheng sold 30,364 shares of Otis Worldwide stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $93.69, for a total value of $2,844,803.16. Following the transaction, the executive vice president now owns 15,570 shares in the company, valued at $1,458,753.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OTIS. D.A. Davidson & CO. raised its position in Otis Worldwide by 5.4% in the third quarter. D.A. Davidson & CO. now owns 11,642 shares of the company’s stock valued at $935,000 after purchasing an additional 596 shares during the period. Pathstone Family Office LLC increased its position in shares of Otis Worldwide by 216.1% during the third quarter. Pathstone Family Office LLC now owns 29,460 shares of the company’s stock worth $2,393,000 after acquiring an additional 20,140 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Otis Worldwide during the third quarter worth about $42,000. Wade G W & Inc. increased its position in shares of Otis Worldwide by 15.5% during the third quarter. Wade G W & Inc. now owns 3,356 shares of the company’s stock worth $270,000 after acquiring an additional 450 shares during the last quarter. Finally, Aptus Capital Advisors LLC purchased a new stake in shares of Otis Worldwide during the third quarter worth about $269,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

About Otis Worldwide

(Get Free Report

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.

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Analyst Recommendations for Otis Worldwide (NYSE:OTIS)

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