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

Otis Worldwide Corporation (NYSE:OTIS) has received a consensus recommendation of “Hold” from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $103.00.

Several brokerages recently issued reports on OTIS. Wolfe Research raised Otis Worldwide from an “underperform” rating to a “peer perform” rating in a research note on Friday, July 25th. Wells Fargo & Company reduced their price objective on Otis Worldwide from $100.00 to $93.00 and set an “equal weight” rating for the company in a research report on Thursday, July 24th. Morgan Stanley raised their price target on Otis Worldwide from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Barclays cut their price target on shares of Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating on the stock in a report on Thursday, July 24th. Finally, Zacks Research downgraded Otis Worldwide from a “hold” rating to a “strong sell” rating in a research note on Monday, September 15th.

Otis Worldwide Stock Up 1.0%

Shares of NYSE OTIS opened at $92.36 on Friday. The business has a fifty day simple moving average of $88.03 and a 200-day simple moving average of $94.29. The company has a market cap of $36.25 billion, a price-to-earnings ratio of 24.43, a P/E/G ratio of 4.40 and a beta of 1.00. Otis Worldwide has a 12 month low of $84.25 and a 12 month high of $106.83.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. Otis Worldwide had a net margin of 10.68% and a negative return on equity of 30.95%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same period in the prior year, the firm earned $1.06 earnings per share. The business’s quarterly revenue was down .2% on a year-over-year basis. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. As a group, sell-side analysts expect 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, September 5th. Investors of record on Friday, August 15th were paid a $0.42 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.68 dividend on an annualized basis and a yield of 1.8%. Otis Worldwide’s dividend payout ratio (DPR) is presently 44.44%.

Hedge Funds Weigh In On Otis Worldwide

A number of institutional investors have recently made changes to their positions in the business. Berkshire Money Management Inc. lifted its stake in shares of Otis Worldwide by 5.0% in the second quarter. Berkshire Money Management Inc. now owns 2,100 shares of the company’s stock valued at $208,000 after buying an additional 100 shares during the period. Park Avenue Securities LLC lifted its position in shares of Otis Worldwide by 0.8% in the 2nd quarter. Park Avenue Securities LLC now owns 13,876 shares of the company’s stock worth $1,374,000 after acquiring an additional 104 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Otis Worldwide by 15.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 828 shares of the company’s stock worth $85,000 after purchasing an additional 110 shares in the last quarter. PFG Investments LLC increased its position in shares of Otis Worldwide by 3.7% during the second quarter. PFG Investments LLC now owns 3,428 shares of the company’s stock valued at $339,000 after purchasing an additional 121 shares during the period. Finally, PKS Advisory Services LLC raised its stake in shares of Otis Worldwide by 4.9% in the second quarter. PKS Advisory Services LLC now owns 2,575 shares of the company’s stock valued at $255,000 after purchasing an additional 121 shares in the last quarter. 88.03% of the stock is currently 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.