Otis Worldwide (NYSE:OTIS) Reaches New 1-Year Low – Here’s What Happened

Otis Worldwide Corporation (NYSE:OTIS)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $72.51 and last traded at $73.2680, with a volume of 3208866 shares traded. The stock had previously closed at $74.10.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays cut their price objective 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. JPMorgan Chase & Co. cut shares of Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 price objective for the company. in a research report on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Otis Worldwide in a research report on Friday, March 27th. Morgan Stanley set a $88.00 price objective on shares of Otis Worldwide in a research report on Friday, April 24th. Finally, Evercore started coverage on shares of Otis Worldwide in a research report on Monday, April 13th. They set an “outperform” rating and a $100.00 price target for the company. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $97.64.

Otis Worldwide Price Performance

The company’s 50 day moving average price is $80.05 and its 200 day moving average price is $86.06. The firm has a market cap of $28.11 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.43 and a beta of 0.95.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the business posted $0.92 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Sell-side analysts expect that Otis Worldwide Corporation will post 4.18 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 15th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. Otis Worldwide’s payout ratio is 44.68%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Oakworth Capital Inc. boosted its stake in shares of Otis Worldwide by 49.1% in the third quarter. Oakworth Capital Inc. now owns 343 shares of the company’s stock valued at $31,000 after purchasing an additional 113 shares during the period. Cookson Peirce & Co. Inc. boosted its stake in shares of Otis Worldwide by 1.8% in the third quarter. Cookson Peirce & Co. Inc. now owns 6,615 shares of the company’s stock valued at $605,000 after purchasing an additional 115 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Otis Worldwide by 5.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company’s stock valued at $202,000 after purchasing an additional 123 shares during the period. Physician Wealth Advisors Inc. boosted its stake in shares of Otis Worldwide by 57.7% in the third quarter. Physician Wealth Advisors Inc. now owns 339 shares of the company’s stock valued at $31,000 after purchasing an additional 124 shares during the period. Finally, Boyd Watterson Asset Management LLC OH boosted its stake in shares of Otis Worldwide by 4.0% in the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company’s stock valued at $281,000 after purchasing an additional 124 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.

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.