Otis Worldwide Co. (NYSE:OTIS) Receives Consensus Rating of “Hold” from Analysts

Otis Worldwide Co. (NYSE:OTIS) has earned a consensus rating of “Hold” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $95.00.

A number of analysts recently commented on OTIS shares. UBS Group boosted their target price on Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Vertical Research downgraded Otis Worldwide from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Melius started coverage on Otis Worldwide in a research note on Tuesday, April 2nd. They set a “hold” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of Otis Worldwide in a research note on Monday, February 5th. Finally, Barclays lifted their price target on Otis Worldwide from $85.00 to $90.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd.

Insider Buying and Selling at Otis Worldwide

In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the sale, the insider now owns 67,274 shares in the company, valued at $6,128,661.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Montlivault Stephane De sold 18,393 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the transaction, the insider now directly owns 67,274 shares of the company’s stock, valued at $6,128,661.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Judith Fran Marks sold 37,312 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total value of $3,426,360.96. Following the completion of the sale, the chief executive officer now directly owns 192,319 shares in the company, valued at $17,660,653.77. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Institutional Trading of Otis Worldwide

Institutional investors and hedge funds have recently bought and sold shares of the stock. FORVIS Wealth Advisors LLC lifted its holdings in shares of Otis Worldwide by 94.9% during the first quarter. FORVIS Wealth Advisors LLC now owns 18,026 shares of the company’s stock valued at $1,789,000 after purchasing an additional 8,779 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in Otis Worldwide by 15.6% in the 1st quarter. First Trust Direct Indexing L.P. now owns 10,530 shares of the company’s stock worth $1,045,000 after acquiring an additional 1,422 shares during the last quarter. Norden Group LLC purchased a new position in Otis Worldwide in the 1st quarter worth approximately $1,722,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Otis Worldwide by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,009,178 shares of the company’s stock worth $100,181,000 after acquiring an additional 9,145 shares during the last quarter. Finally, Dash Acquisitions Inc. raised its holdings in Otis Worldwide by 3.0% in the 1st quarter. Dash Acquisitions Inc. now owns 11,230 shares of the company’s stock worth $1,066,000 after acquiring an additional 323 shares during the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Otis Worldwide Stock Performance

Shares of OTIS stock opened at $95.12 on Friday. The stock’s fifty day moving average price is $96.11 and its two-hundred day moving average price is $88.84. The company has a market cap of $38.45 billion, a PE ratio of 28.06 and a beta of 1.01. Otis Worldwide has a fifty-two week low of $73.32 and a fifty-two week high of $100.35.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Otis Worldwide had a negative return on equity of 30.75% and a net margin of 9.90%. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the business posted $0.75 EPS. On average, equities analysts predict that Otis Worldwide will post 3.87 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 16th were given a $0.34 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.43%. Otis Worldwide’s dividend payout ratio (DPR) is presently 40.12%.

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.