Otis Worldwide Corporation (NYSE:OTIS) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Otis Worldwide Corporation has received a consensus rating of "Hold" from analysts, with one sell, six hold, and three buy recommendations noted.
• The company's shares currently have an average target price of $104.63, as updated by brokerages over the past year.
• Otis Worldwide recently announced a quarterly dividend of $0.42, representing an annualized yield of 1.8% and a payout ratio of 44.44%.

Shares of Otis Worldwide Corporation (NYSE:OTIS - Get Free Report) have been given a consensus rating of "Hold" by the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $104.6250.

OTIS has been the topic of a number of recent research reports. Royal Bank Of Canada reduced their target price on shares of Otis Worldwide from $108.00 to $105.00 and set an "outperform" rating on the stock in a research report on Monday, July 28th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Otis Worldwide in a research note on Wednesday, October 8th. Wolfe Research set a $109.00 price target on shares of Otis Worldwide and gave the stock an "outperform" rating in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Otis Worldwide from a "strong sell" rating to a "hold" rating in a research note on Tuesday, October 14th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Otis Worldwide in a research note on Monday, July 14th. They issued a "hold" rating and a $109.00 price target on the stock.

Otis Worldwide Trading Up 1.3%

Shares of Otis Worldwide stock opened at $92.69 on Wednesday. The company's fifty day simple moving average is $89.13 and its two-hundred day simple moving average is $93.16. The company has a market cap of $36.38 billion, a P/E ratio of 24.52, a PEG ratio of 3.59 and a beta of 1.00. Otis Worldwide has a 12-month low of $84.25 and a 12-month high of $106.83.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.02. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.73 billion. Otis Worldwide had a net margin of 10.68% and a negative return on equity of 30.95%. The company's revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 EPS. Analysts predict that Otis Worldwide will post 4.04 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were paid a $0.42 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.68 dividend on an annualized basis and a yield of 1.8%. Otis Worldwide's payout ratio is presently 44.44%.

Hedge Funds Weigh In On Otis Worldwide

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Otis Worldwide by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 48,587,153 shares of the company's stock valued at $4,811,100,000 after acquiring an additional 1,991,860 shares during the period. JPMorgan Chase & Co. lifted its stake in Otis Worldwide by 6.7% during the 1st quarter. JPMorgan Chase & Co. now owns 37,920,025 shares of the company's stock valued at $3,913,347,000 after acquiring an additional 2,396,134 shares during the period. Alliancebernstein L.P. lifted its stake in Otis Worldwide by 3.2% during the 2nd quarter. Alliancebernstein L.P. now owns 19,378,760 shares of the company's stock valued at $1,918,885,000 after acquiring an additional 603,860 shares during the period. Geode Capital Management LLC lifted its stake in Otis Worldwide by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 10,673,127 shares of the company's stock valued at $1,057,594,000 after acquiring an additional 129,458 shares during the period. Finally, Norges Bank bought a new position in Otis Worldwide during the 2nd quarter valued at about $721,614,000. Institutional investors own 88.03% of the company's stock.

Otis Worldwide Company Profile

Otis Worldwide Corporation engages in manufacturing, installation, and servicing of elevators and escalators in the United States, China, and internationally. The company operates in 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.

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