Otis Worldwide Corporation (NYSE:OTIS) Receives $92.91 Average Price Target from Analysts

Shares of Otis Worldwide Corporation (NYSE:OTIS) have received a consensus recommendation of “Hold” from the ten research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $92.9091.

Several brokerages recently commented on OTIS. UBS Group set a $105.00 price target on shares of Otis Worldwide in a research note on Thursday, April 23rd. Morgan Stanley set a $75.00 target price on Otis Worldwide in a research report on Monday, August 10th. Royal Bank Of Canada set a $90.00 target price on Otis Worldwide in a report on Tuesday, July 28th. Evercore reissued an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a research report on Thursday, July 23rd. Finally, Sanford C. Bernstein cut their price target on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd.

Hedge Funds Weigh In On Otis Worldwide

A number of institutional investors have recently modified their holdings of the business. Proficio Capital Partners LLC acquired a new stake in Otis Worldwide during the 2nd quarter worth $223,000. Clifford Swan Investment Counsel LLC grew its position in Otis Worldwide by 16.3% during the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 105,779 shares of the company’s stock worth $7,574,000 after purchasing an additional 14,787 shares during the last quarter. BTG Pactual Asset Management US LLC increased its stake in Otis Worldwide by 82.5% in the second quarter. BTG Pactual Asset Management US LLC now owns 6,877 shares of the company’s stock valued at $492,000 after purchasing an additional 3,108 shares during the period. Headlands Technologies LLC raised its holdings in shares of Otis Worldwide by 60.2% in the second quarter. Headlands Technologies LLC now owns 10,027 shares of the company’s stock valued at $718,000 after buying an additional 3,769 shares during the last quarter. Finally, Quantitative Investment Management LLC purchased a new stake in shares of Otis Worldwide in the second quarter valued at about $906,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Stock Down 0.3%

Shares of OTIS opened at $71.77 on Tuesday. The stock has a 50 day moving average price of $72.62 and a 200 day moving average price of $77.66. The company has a market capitalization of $27.32 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 2.54 and a beta of 0.89. Otis Worldwide has a 52-week low of $69.16 and a 52-week high of $94.57.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. The company had revenue of $3.86 billion for 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 firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities analysts anticipate that Otis Worldwide will post 4.02 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. Otis Worldwide’s dividend payout ratio (DPR) is 45.24%.

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.