Otis Worldwide Corporation (NYSE:OTIS) Receives Average Rating of "Hold" from Brokerages

Key Points

• Otis Worldwide Corporation has received an average rating of "Hold" from nine analysts, with two sell, five hold, and two buy recommendations, and a 12-month price target of $103.00.
• Institutional investors own 88.03% of Otis Worldwide's stock, with significant stakes acquired by firms like Norges Bank and Marshall Wace LLP in recent quarters.
• The company reported a quarterly earnings of $1.05 per share, which beat estimates but showed a 0.2% decline in revenue compared to the previous year, with a guidance of 4.000-4.10 EPS for FY 2025.

Shares of Otis Worldwide Corporation (NYSE:OTIS - Get Free Report) have received a consensus recommendation of "Hold" from the nine analysts that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $103.00.

A number of research firms recently issued reports on OTIS. Royal Bank Of Canada decreased their price objective on Otis Worldwide from $108.00 to $105.00 and set an "outperform" rating for the company in a report on Monday, July 28th. JPMorgan Chase & Co. increased their price objective on shares of Otis Worldwide from $101.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, September 18th. Zacks Research downgraded Otis Worldwide from a "hold" rating to a "strong sell" rating in a research report on Monday, September 15th. Morgan Stanley increased their price target on Otis Worldwide from $97.00 to $105.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Barclays dropped their price objective on Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating on the stock in a research note on Thursday, July 24th.

Institutional Trading of Otis Worldwide

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Otis Worldwide in the second quarter valued at about $721,614,000. Marshall Wace LLP increased its holdings in shares of Otis Worldwide by 5,291.5% during the second quarter. Marshall Wace LLP now owns 2,844,524 shares of the company's stock worth $281,665,000 after purchasing an additional 2,791,765 shares during the period. JPMorgan Chase & Co. raised its position in shares of Otis Worldwide by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 37,920,025 shares of the company's stock valued at $3,913,347,000 after buying an additional 2,396,134 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Otis Worldwide by 4.3% in the second quarter. Vanguard Group Inc. now owns 48,587,153 shares of the company's stock valued at $4,811,100,000 after buying an additional 1,991,860 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new stake in Otis Worldwide during the second quarter worth approximately $114,319,000. Institutional investors own 88.03% of the company's stock.

Otis Worldwide Price Performance

NYSE OTIS opened at $90.33 on Friday. Otis Worldwide has a one year low of $84.25 and a one year high of $106.83. The firm has a market cap of $35.45 billion, a P/E ratio of 23.90, a P/E/G ratio of 4.30 and a beta of 0.98. The stock's 50-day moving average is $88.29 and its 200-day moving average is $94.46.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. Otis Worldwide had a net margin of 10.68% and a negative return on equity of 30.95%. The company had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.73 billion. During the same quarter in the prior year, the company earned $1.06 earnings per share. The business's quarterly revenue was down .2% compared to the same quarter last year. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. Equities analysts anticipate that Otis Worldwide will post 4.04 EPS for the current year.

Otis Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.9%. Otis Worldwide's payout ratio is presently 44.44%.

About Otis Worldwide

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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