Otis Worldwide Co. (NYSE:OTIS) Receives Consensus Rating of “Hold” from Analysts

Shares of Otis Worldwide Co. (NYSE:OTIS) have earned a consensus rating of “Hold” from the seven analysts that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $95.00.

A number of research firms have recently issued reports on OTIS. Vertical Research lowered shares of Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price target on shares of Otis Worldwide in a research report on Monday, February 5th. Barclays increased their price target on shares of Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. UBS Group raised their price objective on shares of Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Finally, Melius assumed coverage on shares of Otis Worldwide in a research report on Tuesday, April 2nd. They set a “hold” rating on the stock.

Otis Worldwide Trading Down 0.4 %

NYSE:OTIS opened at $95.12 on Friday. Otis Worldwide has a twelve month low of $73.32 and a twelve month high of $100.35. The company has a 50-day moving average of $96.11 and a 200-day moving average of $88.84. The firm has a market cap of $38.45 billion, a price-to-earnings ratio of 28.06 and a beta of 1.01.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, January 31st. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Otis Worldwide had a net margin of 9.90% and a negative return on equity of 30.75%. The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the firm posted $0.75 EPS. On average, research analysts forecast that Otis Worldwide will post 3.87 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 16th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.36 dividend on an annualized basis and a yield of 1.43%. Otis Worldwide’s dividend payout ratio is currently 40.12%.

Insiders Place Their Bets

In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of Otis Worldwide stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the sale, the insider now owns 67,274 shares in the company, valued at $6,128,661.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of Otis Worldwide stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the sale, the insider now owns 67,274 shares in the company, valued at $6,128,661.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Judith Fran Marks sold 37,312 shares of Otis Worldwide stock in a transaction on Wednesday, February 7th. The shares were 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 of the company’s stock, valued at $17,660,653.77. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Trust Company N.A bought a new stake in Otis Worldwide during the 4th quarter worth about $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in Otis Worldwide during the 4th quarter worth about $28,000. Orion Capital Management LLC bought a new stake in Otis Worldwide during the 3rd quarter worth about $30,000. Janiczek Wealth Management LLC raised its holdings in Otis Worldwide by 141.1% during the 3rd quarter. Janiczek Wealth Management LLC now owns 381 shares of the company’s stock worth $31,000 after purchasing an additional 223 shares during the last quarter. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in Otis Worldwide during the 4th quarter worth about $35,000. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Company Profile

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.