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

Shares of Otis Worldwide Corporation (NYSE:OTIS) have been given an average recommendation of “Hold” by the eight analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $102.50.

A number of research firms have commented on OTIS. Barclays decreased their target price on shares of Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating on the stock in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft began coverage on shares of Otis Worldwide in a research report on Monday, July 14th. They set a “hold” rating and a $109.00 price target on the stock. Royal Bank Of Canada reduced their price target on shares of Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, July 28th. Wells Fargo & Company cut their target price on shares of Otis Worldwide from $100.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. cut their target price on shares of Otis Worldwide from $109.00 to $101.00 and set an “overweight” rating on the stock in a research note on Thursday, July 24th.

Otis Worldwide Trading Up 0.3%

Shares of OTIS stock opened at $87.27 on Tuesday. The company’s 50-day moving average price is $91.26 and its 200-day moving average price is $95.50. The stock has a market cap of $34.25 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 4.19 and a beta of 0.98. Otis Worldwide has a twelve month low of $84.25 and a twelve month high of $106.83.

Otis Worldwide (NYSE:OTIS) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the prior year, the company posted $1.06 earnings per share. Otis Worldwide’s revenue for the quarter was down .2% compared to the same quarter last year. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. As a group, equities research analysts predict that Otis Worldwide will post 4.04 EPS for the current year.

Otis Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, August 15th. Otis Worldwide’s dividend payout ratio is currently 44.44%.

Hedge Funds Weigh In On Otis Worldwide

Hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. purchased a new position in Otis Worldwide in the first quarter valued at approximately $25,000. Wayfinding Financial LLC purchased a new position in Otis Worldwide in the first quarter valued at approximately $31,000. Chilton Capital Management LLC purchased a new position in Otis Worldwide in the second quarter valued at approximately $31,000. Nemes Rush Group LLC increased its stake in Otis Worldwide by 75.4% in the second quarter. Nemes Rush Group LLC now owns 314 shares of the company’s stock valued at $31,000 after purchasing an additional 135 shares during the last quarter. Finally, Cheviot Value Management LLC purchased a new position in Otis Worldwide in the first quarter valued at approximately $31,000. 88.03% of the stock is currently owned by hedge funds and other 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.