Brokerages Set Otis Worldwide Corporation (NYSE:OTIS) PT at $97.64

Otis Worldwide Corporation (NYSE:OTIS) has been assigned a consensus rating of “Hold” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $97.5833.

OTIS has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Sanford C. Bernstein initiated coverage on shares of Otis Worldwide in a research note on Tuesday. They issued an “outperform” rating and a $97.00 price objective on the stock. Wolfe Research cut shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Barclays decreased their price objective on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research note on Thursday, April 23rd. Finally, Evercore began coverage on shares of Otis Worldwide in a research report on Monday, April 13th. They issued an “outperform” rating and a $100.00 target price on the stock.

Institutional Trading of Otis Worldwide

A number of hedge funds have recently added to or reduced their stakes in the stock. Cookson Peirce & Co. Inc. boosted its position in Otis Worldwide by 1.8% in the third quarter. Cookson Peirce & Co. Inc. now owns 6,615 shares of the company’s stock valued at $605,000 after buying an additional 115 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Otis Worldwide by 5.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company’s stock valued at $202,000 after buying an additional 123 shares in the last quarter. Physician Wealth Advisors Inc. boosted its position in Otis Worldwide by 57.7% in the third quarter. Physician Wealth Advisors Inc. now owns 339 shares of the company’s stock valued at $31,000 after buying an additional 124 shares in the last quarter. Boyd Watterson Asset Management LLC OH boosted its position in Otis Worldwide by 4.0% in the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company’s stock valued at $281,000 after buying an additional 124 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its position in Otis Worldwide by 2.7% in the fourth quarter. Moors & Cabot Inc. now owns 4,741 shares of the company’s stock valued at $414,000 after buying an additional 126 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Price Performance

Shares of NYSE:OTIS opened at $69.69 on Thursday. The company’s 50 day simple moving average is $75.31 and its 200 day simple moving average is $83.34. The stock has a market capitalization of $26.74 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 2.32 and a beta of 0.91. Otis Worldwide has a 1 year low of $69.16 and a 1 year high of $101.42.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The firm had revenue of $3.57 billion during 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 revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business earned $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, analysts anticipate that Otis Worldwide will post 4.2 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be given a $0.44 dividend. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, May 15th. Otis Worldwide’s dividend payout ratio (DPR) is 46.81%.

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.