Otis Worldwide (NYSE:OTIS) Sets New 1-Year Low – Here’s Why

Otis Worldwide Corporation (NYSE:OTIS) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $67.42 and last traded at $67.6540, with a volume of 914613 shares traded. The stock had previously closed at $68.52.

Wall Street Analyst Weigh In

Several research firms have recently commented on OTIS. Royal Bank Of Canada set a $90.00 target price on Otis Worldwide in a research report on Tuesday, July 28th. Sanford C. Bernstein restated an “outperform” rating on shares of Otis Worldwide in a research report on Monday. Morgan Stanley set a $75.00 target price on Otis Worldwide in a research report on Monday, August 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Finally, Evercore restated an “outperform” rating and issued a $95.00 price objective on shares of Otis Worldwide in a report on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $92.91.

Otis Worldwide Stock Up 2.3%

The firm has a market capitalization of $25.95 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 2.35 and a beta of 0.88. The company’s 50 day moving average is $71.50 and its 200-day moving average is $74.34.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.01. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. The business’s revenue was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, analysts predict that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 14th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, August 14th. Otis Worldwide’s dividend payout ratio (DPR) is 45.24%.

Institutional Trading of Otis Worldwide

A number of hedge funds and other institutional investors have recently bought and sold shares of OTIS. Moors & Cabot Inc. increased its position in shares of Otis Worldwide by 2.7% during the 4th quarter. Moors & Cabot Inc. now owns 4,741 shares of the company’s stock worth $414,000 after purchasing an additional 126 shares during the last quarter. Founders Financial Securities LLC boosted its stake in shares of Otis Worldwide by 5.0% during the 4th quarter. Founders Financial Securities LLC now owns 3,130 shares of the company’s stock worth $273,000 after acquiring an additional 148 shares during the period. Icon Wealth Advisors LLC raised its stake in Otis Worldwide by 7.8% in the 4th quarter. Icon Wealth Advisors LLC now owns 2,260 shares of the company’s stock valued at $201,000 after acquiring an additional 163 shares during the period. Lowe Brockenbrough & Co. Inc. lifted its holdings in Otis Worldwide by 6.4% during the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 2,727 shares of the company’s stock valued at $238,000 after purchasing an additional 165 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC boosted its position in Otis Worldwide by 1.9% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 9,086 shares of the company’s stock worth $700,000 after purchasing an additional 169 shares during the period. Institutional investors own 88.03% of the company’s stock.

About Otis Worldwide

Otis Worldwide Corporation (NYSE: OTIS) designs, manufactures, installs and services elevators, escalators and moving walkways. Its equipment is used in residential, commercial, institutional, transportation and industrial buildings, supporting the movement of people in high-rise and other densely occupied environments.

The company’s offerings include passenger and freight elevators, escalators, moving walkways, destination-dispatch systems and related technologies. Otis also provides maintenance, repair, modernization and replacement services for its own equipment and products made by other manufacturers.