Otis Worldwide Corporation (NYSE:OTIS) Receives $97.58 Consensus Target Price from Brokerages

Shares of Otis Worldwide Corporation (NYSE:OTIS) have earned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $97.5833.

A number of research analysts recently issued reports on OTIS shares. Weiss Ratings cut shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Evercore assumed coverage on shares of Otis Worldwide in a report on Monday, April 13th. They issued an “outperform” rating and a $100.00 price objective on the stock. UBS Group set a $105.00 target price on shares of Otis Worldwide in a research note on Thursday, April 23rd. Sanford C. Bernstein started coverage on shares of Otis Worldwide in a report on Tuesday, June 9th. They set an “outperform” rating and a $97.00 target price for the company. Finally, Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th.

Institutional Investors Weigh In On Otis Worldwide

Several hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its stake in Otis Worldwide by 3.4% in the 1st quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock worth $949,000 after purchasing an additional 304 shares in the last quarter. Empowered Funds LLC increased its stake in Otis Worldwide by 10.5% during the 1st quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock valued at $928,000 after purchasing an additional 857 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Otis Worldwide by 63.7% in the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock worth $417,000 after buying an additional 1,574 shares during the last quarter. Baird Financial Group Inc. raised its holdings in Otis Worldwide by 7.1% in the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock worth $3,193,000 after buying an additional 2,132 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Otis Worldwide by 13.3% in the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock worth $1,012,000 after buying an additional 1,196 shares during the last quarter. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Trading Down 0.1%

OTIS opened at $73.08 on Monday. The stock has a fifty day simple moving average of $72.90 and a two-hundred day simple moving average of $81.56. The company has a market cap of $28.04 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90. Otis Worldwide has a 12-month low of $69.16 and a 12-month high of $101.42.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The business had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, analysts predict that Otis Worldwide will post 4.19 EPS for the current year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 15th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is presently 46.81%.

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.