Otis Worldwide Corporation (NYSE:OTIS) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Otis Worldwide Corporation has received an average recommendation of "Hold" from analysts, with varied ratings including one sell, five hold, and two buy ratings.
• The company reported $1.05 EPS for the last quarter, beating estimates, but its revenue of $3.60 billion fell short of projections.
• Otis Worldwide recently declared a quarterly dividend of $0.42 per share, translating to an annual yield of 1.9% based on a payout ratio of 44.44%.

Otis Worldwide Corporation (NYSE:OTIS - Get Free Report) has received an average rating of "Hold" from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $102.50.

OTIS has been the subject of several recent research reports. Wolfe Research upgraded Otis Worldwide from an "underperform" rating to a "peer perform" rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Otis Worldwide in a research report on Monday, July 14th. They set a "hold" rating and a $109.00 target price for the company. Barclays decreased their price target on Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating on the stock in a research report on Thursday, July 24th. Morgan Stanley upped their price objective on shares of Otis Worldwide from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company decreased their target price on shares of Otis Worldwide from $100.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, July 24th.

Institutional Trading of Otis Worldwide

A number of hedge funds and other institutional investors have recently bought and sold shares of OTIS. Berkshire Money Management Inc. raised its position in Otis Worldwide by 5.0% in the 2nd quarter. Berkshire Money Management Inc. now owns 2,100 shares of the company's stock valued at $208,000 after buying an additional 100 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of Otis Worldwide by 0.8% in the 2nd quarter. Park Avenue Securities LLC now owns 13,876 shares of the company's stock worth $1,374,000 after acquiring an additional 104 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Otis Worldwide by 4.2% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company's stock valued at $249,000 after purchasing an additional 109 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Otis Worldwide by 15.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 828 shares of the company's stock valued at $85,000 after purchasing an additional 110 shares during the last quarter. Finally, AlTi Global Inc. lifted its position in shares of Otis Worldwide by 4.9% during the fourth quarter. AlTi Global Inc. now owns 2,404 shares of the company's stock valued at $223,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 88.03% of the company's stock.

Otis Worldwide Price Performance

Shares of OTIS opened at $87.25 on Friday. The company has a market cap of $34.24 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 4.18 and a beta of 0.95. The firm has a 50-day moving average of $95.07 and a 200-day moving average of $96.88. Otis Worldwide has a one year low of $84.25 and a one year high of $106.83.

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

Otis Worldwide Dividend Announcement

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