Otis Worldwide Corporation (NYSE:OTIS) Plans $0.44 Quarterly Dividend

Otis Worldwide Corporation (NYSE:OTIS) announced a quarterly dividend on Thursday, July 23rd. Investors of record on Friday, August 14th will be paid a dividend of 0.44 per share on Friday, September 11th. This represents a c) annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, August 14th.

Otis Worldwide has increased its dividend by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 5 years. Otis Worldwide has a payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Otis Worldwide to earn $4.58 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 38.4%.

Otis Worldwide Trading Up 0.7%

Shares of NYSE OTIS opened at $70.87 on Friday. Otis Worldwide has a 12-month low of $69.16 and a 12-month high of $94.57. The company has a market cap of $27.20 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 2.61 and a beta of 0.90. The stock’s 50 day simple moving average is $71.94 and its 200 day simple moving average is $80.02.

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

Analyst Ratings Changes

Several equities research analysts have commented on OTIS shares. Royal Bank Of Canada dropped their price target on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Sanford C. Bernstein reduced their price objective on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday. Barclays decreased their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Weiss Ratings cut Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Finally, Morgan Stanley set a $88.00 target price on Otis Worldwide in a research note on Friday, April 24th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and an average target price of $95.45.

Otis Worldwide Company Profile

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.