Otis Worldwide Corporation (NYSE:OTIS) Receives $97.64 Average Target Price from Analysts

Shares of Otis Worldwide Corporation (NYSE:OTIS) have received a consensus recommendation of “Hold” from the eleven research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $97.6364.

A number of brokerages have recently issued reports on OTIS. Weiss Ratings lowered Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Barclays lowered their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Thursday, April 23rd. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Morgan Stanley set a $88.00 price target on Otis Worldwide in a research note on Friday, April 24th. Finally, Evercore initiated coverage on Otis Worldwide in a research note on Monday, April 13th. They issued an “outperform” rating and a $100.00 price target for the company.

Institutional Investors Weigh In On Otis Worldwide

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Groupama Asset Managment raised its stake in Otis Worldwide by 245.7% in the first quarter. Groupama Asset Managment now owns 9,848 shares of the company’s stock valued at $759,000 after buying an additional 6,999 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Otis Worldwide in the 1st quarter valued at $9,821,000. GKV Capital Management Co. Inc. acquired a new position in shares of Otis Worldwide in the 1st quarter valued at $173,000. Groupe la Francaise increased its position in shares of Otis Worldwide by 12.1% in the 1st quarter. Groupe la Francaise now owns 60,411 shares of the company’s stock valued at $4,656,000 after acquiring an additional 6,511 shares during the period. Finally, Western Wealth Management LLC acquired a new position in shares of Otis Worldwide in the 1st quarter valued at $961,000. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Otis Worldwide Stock Down 1.1%

Shares of OTIS stock opened at $69.57 on Thursday. The firm has a market cap of $26.69 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 2.29 and a beta of 0.91. The company’s 50 day moving average is $75.54 and its 200 day moving average is $83.57. Otis Worldwide has a 52-week low of $69.16 and a 52-week high of $101.42.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Analysts anticipate that Otis Worldwide will post 4.2 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, May 15th. Otis Worldwide’s dividend payout ratio (DPR) is 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.