Otis Worldwide Corporation (NYSE:OTIS) Receives Average Rating of “Hold” from Analysts

Otis Worldwide Corporation (NYSE:OTISGet Free Report) has been assigned a consensus rating of “Hold” from the ten brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $104.1250.

Several research firms have weighed in on OTIS. BNP Paribas Exane upgraded shares of Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 target price for the company in a report on Tuesday, December 9th. Wall Street Zen cut shares of Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Otis Worldwide in a research report on Monday, December 29th. JPMorgan Chase & Co. boosted their price objective on shares of Otis Worldwide from $111.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Finally, Barclays upped their target price on Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th.

Check Out Our Latest Stock Report on Otis Worldwide

Otis Worldwide News Summary

Here are the key news stories impacting Otis Worldwide this week:

Otis Worldwide Trading Down 1.7%

Shares of OTIS opened at $87.13 on Friday. The stock’s 50 day moving average is $88.45 and its two-hundred day moving average is $89.43. The firm has a market capitalization of $33.96 billion, a PE ratio of 24.89, a P/E/G ratio of 2.56 and a beta of 1.02. Otis Worldwide has a twelve month low of $84.00 and a twelve month high of $106.83.

Otis Worldwide (NYSE:OTISGet Free Report) last issued its earnings results on Wednesday, January 28th. The company reported $1.03 EPS for the quarter, hitting the consensus estimate of $1.03. Otis Worldwide had a net margin of 9.59% and a negative return on equity of 30.42%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same period in the previous year, the firm earned $0.93 EPS. The business’s revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts predict that Otis Worldwide will post 4.04 EPS for the current year.

Insider Activity

In related news, CAO Michael Patrick Ryan sold 3,028 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $91.69, for a total value of $277,637.32. Following the transaction, the chief accounting officer owned 2,628 shares in the company, valued at approximately $240,961.32. The trade was a 53.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.23% of the company’s stock.

Institutional Trading of Otis Worldwide

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Otis Worldwide in the second quarter worth about $721,614,000. Marshall Wace LLP lifted its position in Otis Worldwide by 5,291.5% in the 2nd quarter. Marshall Wace LLP now owns 2,844,524 shares of the company’s stock valued at $281,665,000 after purchasing an additional 2,791,765 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Otis Worldwide by 4.3% during the second quarter. Vanguard Group Inc. now owns 48,587,153 shares of the company’s stock worth $4,811,100,000 after buying an additional 1,991,860 shares during the period. Van ECK Associates Corp grew its stake in shares of Otis Worldwide by 3,464.3% in the third quarter. Van ECK Associates Corp now owns 2,022,770 shares of the company’s stock worth $184,942,000 after purchasing an additional 1,966,019 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Otis Worldwide by 125.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company’s stock worth $236,891,000 after buying an additional 1,445,904 shares in the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Otis Worldwide (NYSE:OTIS)

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