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

Shares of Otis Worldwide Corporation (NYSE:OTIS) have earned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $103.50.

A number of analysts have commented on the stock. Zacks Research raised shares of Otis Worldwide from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Wells Fargo & Company cut their price objective on shares of Otis Worldwide from $95.00 to $92.00 and set an “equal weight” rating for the company in a research report on Monday, December 15th. Barclays raised their target price on Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Wall Street Zen raised Otis Worldwide from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, BNP Paribas upgraded Otis Worldwide from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 9th.

Otis Worldwide Stock Performance

Otis Worldwide stock opened at $88.33 on Monday. Otis Worldwide has a one year low of $84.25 and a one year high of $106.83. The stock has a fifty day moving average of $88.71 and a 200 day moving average of $90.47. The stock has a market cap of $34.42 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 3.13 and a beta of 1.02.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the previous year, the company posted $0.96 EPS. The business’s quarterly 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, sell-side analysts predict that Otis Worldwide will post 4.04 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

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

Insiders Place Their Bets

In other Otis Worldwide news, CAO Michael Patrick Ryan sold 3,028 shares of Otis Worldwide stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $91.69, for a total transaction of $277,637.32. Following the transaction, the chief accounting officer owned 2,628 shares of the company’s stock, valued at $240,961.32. The trade was a 53.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.

Institutional Trading of Otis Worldwide

Several institutional investors and hedge funds have recently modified their holdings of OTIS. Atlantic Union Bankshares Corp boosted its position in Otis Worldwide by 48.2% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 58,088 shares of the company’s stock valued at $5,752,000 after acquiring an additional 18,881 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Otis Worldwide by 11.6% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 50,066 shares of the company’s stock worth $4,958,000 after acquiring an additional 5,200 shares in the last quarter. Natixis lifted its stake in shares of Otis Worldwide by 226.4% during the 2nd quarter. Natixis now owns 84,026 shares of the company’s stock worth $8,320,000 after purchasing an additional 58,286 shares during the last quarter. Carnegie Investment Counsel lifted its stake in shares of Otis Worldwide by 19.9% during the 3rd quarter. Carnegie Investment Counsel now owns 234,368 shares of the company’s stock worth $21,428,000 after purchasing an additional 38,931 shares during the last quarter. Finally, Canoe Financial LP grew its stake in Otis Worldwide by 64.0% in the third quarter. Canoe Financial LP now owns 2,411,956 shares of the company’s stock valued at $220,525,000 after purchasing an additional 940,862 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors.

Otis Worldwide Company Profile

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.