Wells Fargo & Company Upgrades Otis Worldwide (NYSE:OTIS) to Strong Sell

Otis Worldwide (NYSE:OTIS) was upgraded by analysts at Wells Fargo & Company to a “strong sell” rating in a research note issued on Thursday, Zacks reports.

Several other equities analysts have also recently weighed in on the stock. Evercore reiterated an “outperform” rating and set a $95.00 price objective on shares of Otis Worldwide in a research report on Thursday, July 23rd. Sanford C. Bernstein restated an “outperform” rating on shares of Otis Worldwide in a report on Monday. Royal Bank Of Canada set a $90.00 target price on Otis Worldwide in a research report on Tuesday, July 28th. Morgan Stanley set a $75.00 price target on Otis Worldwide in a report on Monday, August 10th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $92.64.

Otis Worldwide Trading Down 1.1%

OTIS stock opened at $65.97 on Thursday. Otis Worldwide has a one year low of $65.87 and a one year high of $94.57. The firm has a 50-day moving average of $71.11 and a two-hundred day moving average of $73.97. The firm has a market capitalization of $25.11 billion, a PE ratio of 16.96, a P/E/G ratio of 2.35 and a beta of 0.88.

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

Institutional Trading of Otis Worldwide

A number of institutional investors have recently bought and sold shares of OTIS. Moors & Cabot Inc. grew its stake in Otis Worldwide by 2.7% in the fourth quarter. Moors & Cabot Inc. now owns 4,741 shares of the company’s stock valued at $414,000 after purchasing an additional 126 shares in the last quarter. Founders Financial Securities LLC raised 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 purchasing an additional 148 shares in the last quarter. Icon Wealth Advisors LLC raised its stake in shares of Otis Worldwide by 7.8% during the 4th quarter. Icon Wealth Advisors LLC now owns 2,260 shares of the company’s stock worth $201,000 after purchasing an additional 163 shares in the last quarter. Lowe Brockenbrough & Co. Inc. lifted its holdings in shares of 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 buying an additional 165 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC grew its stake in shares of Otis Worldwide by 1.9% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 9,086 shares of the company’s stock valued at $700,000 after buying an additional 169 shares in the last quarter. Institutional investors and hedge funds 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.