Otis Worldwide Corporation (NYSE:OTIS) Receives Average Recommendation of “Hold” from Brokerages

Otis Worldwide Corporation (NYSE:OTIS) has been assigned an average recommendation of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $103.50.

A number of analysts recently commented on OTIS shares. Barclays lifted their price objective on Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. 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. Weiss Ratings reissued a “hold (c)” rating on shares of Otis Worldwide in a research note on Monday, December 29th. Wolfe Research set a $109.00 target price on shares of Otis Worldwide and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Finally, BNP Paribas Exane raised Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 price target on the stock in a research note on Tuesday, December 9th.

Otis Worldwide Stock Performance

OTIS stock opened at $90.20 on Monday. The stock’s 50 day moving average price is $88.43 and its 200 day moving average price is $90.34. The firm has a market cap of $35.15 billion, a P/E ratio of 26.61, a PEG ratio of 3.20 and a beta of 1.02. Otis Worldwide has a 1 year low of $84.25 and a 1 year high of $106.83.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share for the quarter, topping 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 company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the previous year, the firm posted $0.96 earnings per share. The business’s revenue for the quarter 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. On average, research analysts predict that Otis Worldwide will post 4.04 earnings per share for the current year.

Otis Worldwide Announces Dividend

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

Insider Buying and Selling

In other Otis Worldwide news, CAO Michael Patrick Ryan sold 3,028 shares of Otis Worldwide 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 completion of the sale, the chief accounting officer owned 2,628 shares in the company, valued at $240,961.32. The trade was a 53.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On Otis Worldwide

Several hedge funds have recently modified their holdings of OTIS. Root Financial Partners LLC purchased a new position in Otis Worldwide during the third quarter worth approximately $26,000. Stance Capital LLC purchased a new stake in shares of Otis Worldwide during the 3rd quarter valued at $27,000. Chilton Capital Management LLC acquired a new stake in shares of Otis Worldwide during the 2nd quarter worth $31,000. Nemes Rush Group LLC raised its position in shares of Otis Worldwide by 75.4% in the 2nd quarter. Nemes Rush Group LLC now owns 314 shares of the company’s stock worth $31,000 after buying an additional 135 shares during the period. Finally, Rakuten Investment Management Inc. acquired a new position in Otis Worldwide in the third quarter valued at $31,000. 88.03% of the stock is owned by institutional investors and hedge funds.

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.