Otis Worldwide Corporation (NYSE:OTIS) Stock Has Consensus Target Price of $92.64

Shares of Otis Worldwide Corporation (NYSE:OTIS) have been given a consensus rating of “Hold” by the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $91.00.

OTIS has been the topic of several research analyst reports. Wells Fargo & Company started coverage on shares of Otis Worldwide in a research report on Thursday, September 24th. They issued an “underweight” rating and a $77.00 target price on the stock. Morgan Stanley set a $75.00 price target on shares of Otis Worldwide in a research report on Monday, August 10th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Otis Worldwide in a report on Monday, September 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Finally, Evercore reiterated an “outperform” rating and set a $95.00 price objective on shares of Otis Worldwide in a research note on Thursday, July 23rd.

Otis Worldwide Trading Up 1.5%

Shares of OTIS opened at $67.72 on Wednesday. The firm has a market cap of $25.78 billion, a P/E ratio of 17.41, a PEG ratio of 2.34 and a beta of 0.87. Otis Worldwide has a 12 month low of $63.58 and a 12 month high of $94.57. The stock’s 50 day moving average is $69.52 and its two-hundred day moving average is $72.55.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Equities research analysts forecast that Otis Worldwide will post 4.04 EPS for the current year.

Otis Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 14th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Friday, August 14th. Otis Worldwide’s dividend payout ratio (DPR) is 45.24%.

Institutional Trading of Otis Worldwide

Large investors have recently made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in Otis Worldwide in the second quarter valued at $27,000. MidFirst Bank purchased a new stake in shares of Otis Worldwide during the 2nd quarter worth $28,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Otis Worldwide during the 2nd quarter worth $28,000. Elevation Wealth Partners LLC grew its stake in shares of Otis Worldwide by 1,910.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock worth $29,000 after purchasing an additional 382 shares during the period. Finally, Addison Advisors LLC acquired a new position in shares of Otis Worldwide during the 2nd quarter worth $29,000. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

About Otis Worldwide

Otis Worldwide Corporation (NYSE: OTIS) is a global manufacturer and service provider focused on elevator and escalator systems. The company designs, manufactures, installs and maintains elevators, escalators and moving walkways for commercial buildings, residential properties, transportation hubs and other infrastructure.

Its offerings include passenger and freight elevators, escalators, moving walkways, digital monitoring solutions and related components. Otis also provides ongoing maintenance, repair, modernization and replacement services, which support the performance and safety of equipment throughout its operating life.

The company traces its origins to 1853, when Elisha Graves Otis demonstrated a safety elevator that helped make taller buildings practical.