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

Shares of Otis Worldwide Corporation (NYSE:OTIS) have received an average recommendation of “Hold” from the twelve analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $97.5833.

A number of brokerages have issued reports on OTIS. Morgan Stanley set a $88.00 price objective on shares of Otis Worldwide in a research note on Friday, April 24th. Barclays dropped their target price on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Thursday, April 23rd. Evercore started coverage on Otis Worldwide in a research note on Monday, April 13th. They issued an “outperform” rating and a $100.00 price target on the stock. Weiss Ratings lowered Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Finally, Royal Bank Of Canada decreased their price objective on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd.

Institutional Trading of Otis Worldwide

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC increased its position in shares of Otis Worldwide by 54.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,890,482 shares of the company’s stock valued at $264,277,000 after buying an additional 1,013,876 shares in the last quarter. SG Americas Securities LLC raised its stake in Otis Worldwide by 12,345.2% during the 4th quarter. SG Americas Securities LLC now owns 499,177 shares of the company’s stock worth $43,603,000 after buying an additional 495,166 shares during the period. Pinnacle Financial Partners Inc. lifted its holdings in Otis Worldwide by 19.6% during the third quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock worth $7,085,000 after acquiring an additional 12,721 shares in the last quarter. Oak Thistle LLC acquired a new position in Otis Worldwide in the fourth quarter valued at about $2,046,000. Finally, Canoe Financial LP grew its stake in Otis Worldwide by 15.6% in the fourth quarter. Canoe Financial LP now owns 2,787,870 shares of the company’s stock valued at $243,520,000 after acquiring an additional 375,914 shares during the period. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Trading Down 0.1%

Otis Worldwide stock opened at $73.08 on Monday. Otis Worldwide has a 1 year low of $69.16 and a 1 year high of $101.42. The company has a market cap of $28.04 billion, a PE ratio of 19.44, a PEG ratio of 2.60 and a beta of 0.90. The company’s 50-day moving average is $72.90 and its two-hundred day moving average is $81.51.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.77 billion. Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Research analysts forecast that Otis Worldwide will post 4.19 EPS for the current year.

Otis Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 15th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, May 15th. Otis Worldwide’s dividend payout ratio (DPR) is 46.81%.

About Otis Worldwide

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.