Shares of Otis Worldwide Co. (NYSE:OTIS) have received a consensus recommendation of "Hold" from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $73.71.
A number of analysts recently weighed in on OTIS shares. Cowen upped their target price on shares of Otis Worldwide from $75.00 to $77.00 in a research note on Wednesday, March 3rd. HSBC raised shares of Otis Worldwide from a "reduce" rating to a "hold" rating and set a $65.00 target price on the stock in a research note on Monday, March 29th. Berenberg Bank started coverage on shares of Otis Worldwide in a research note on Monday, March 22nd. They issued a "buy" rating and a $85.00 target price on the stock. Credit Suisse Group upped their target price on shares of Otis Worldwide from $68.00 to $72.00 and gave the company a "neutral" rating in a research note on Tuesday, February 2nd. Finally, Zacks Investment Research cut shares of Otis Worldwide from a "hold" rating to a "sell" rating in a research note on Wednesday, February 3rd.
Institutional investors have recently modified their holdings of the business. Safeguard Investment Advisory Group LLC bought a new stake in Otis Worldwide during the fourth quarter worth about $26,000. Addison Advisors LLC acquired a new position in shares of Otis Worldwide during the fourth quarter worth approximately $27,000. Baron Silver Stevens Financial Advisors LLC acquired a new position in shares of Otis Worldwide during the fourth quarter worth approximately $27,000. Berman Capital Advisors LLC lifted its position in shares of Otis Worldwide by 67.2% during the fourth quarter. Berman Capital Advisors LLC now owns 403 shares of the company's stock worth $26,000 after purchasing an additional 162 shares in the last quarter. Finally, Ironwood Wealth Management LLC. lifted its position in shares of Otis Worldwide by 1,280.0% during the fourth quarter. Ironwood Wealth Management LLC. now owns 414 shares of the company's stock worth $28,000 after purchasing an additional 384 shares in the last quarter. 83.76% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:OTIS opened at $69.63 on Thursday. The firm's 50-day moving average is $66.27 and its 200-day moving average is $65.80. Otis Worldwide has a 52-week low of $41.26 and a 52-week high of $70.67.
Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Sunday, January 31st. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.07. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.39 billion. On average, research analysts expect that Otis Worldwide will post 2.45 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Friday, February 12th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, February 11th. This represents a $0.80 annualized dividend and a yield of 1.15%.
Otis Worldwide Company Profile
Otis Worldwide Corporation manufactures, installs, and services elevators and escalators in the United States, China, and internationally. The company operates through two segments, New Equipment and Service. The New Equipment segment designs, manufactures, sells, and installs a range of passenger and freight elevators, as well as escalators and moving walkways for residential and commercial buildings, and infrastructure projects.
Further Reading: Depreciation
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