Otis Worldwide Corporation (NYSE:OTIS) Given Average Rating of "Hold" by Analysts

Key Points

• Otis Worldwide Corporation has received a consensus rating of "Hold" from eight ratings firms, with one sell, five hold, and two buy recommendations.
• The company reported a quarterly earnings of $1.05 per share, exceeding the consensus estimate, but its revenue of $3.60 billion was below expectations.
• Otis Worldwide announced a quarterly dividend of $0.42 per share, which results in an annualized dividend yield of 1.9%.

Otis Worldwide Corporation (NYSE:OTIS - Get Free Report) has received a consensus recommendation of "Hold" from the eight brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $102.50.

Several research firms recently weighed in on OTIS. Royal Bank Of Canada reduced their target price on Otis Worldwide from $108.00 to $105.00 and set an "outperform" rating on the stock in a research report on Monday, July 28th. JPMorgan Chase & Co. dropped their price objective on shares of Otis Worldwide from $109.00 to $101.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Barclays decreased their target price on shares of 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 target 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 cut their price target on shares of Otis Worldwide from $100.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 24th.

Institutional Trading of Otis Worldwide

A number of institutional investors have recently modified their holdings of OTIS. NBC Securities Inc. acquired a new position in Otis Worldwide during the first quarter valued at approximately $25,000. Wayfinding Financial LLC purchased a new position in shares of Otis Worldwide in the 1st quarter valued at $31,000. Chilton Capital Management LLC acquired a new position in shares of Otis Worldwide during the 2nd quarter valued at $31,000. Nemes Rush Group LLC boosted its position in Otis Worldwide by 75.4% during the 2nd quarter. Nemes Rush Group LLC now owns 314 shares of the company's stock worth $31,000 after purchasing an additional 135 shares during the period. Finally, Cheviot Value Management LLC acquired a new stake in Otis Worldwide in the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 88.03% of the company's stock.

Otis Worldwide Stock Up 0.9%

Shares of OTIS traded up $0.77 on Tuesday, hitting $86.44. 1,739,954 shares of the stock traded hands, compared to its average volume of 2,818,905. Otis Worldwide has a 1 year low of $84.25 and a 1 year high of $106.83. The stock's 50 day moving average is $91.93 and its two-hundred day moving average is $95.76. The firm has a market capitalization of $33.93 billion, a P/E ratio of 22.87, a P/E/G ratio of 4.16 and a beta of 0.98.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued 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 negative return on equity of 30.95% and a net margin of 10.68%.The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the previous year, the firm posted $1.06 EPS. Otis Worldwide's revenue was down .2% on a year-over-year basis. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. Research analysts forecast that Otis Worldwide will post 4.04 EPS for the current year.

Otis Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a $0.42 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.68 dividend on an annualized basis and a yield of 1.9%. Otis Worldwide's dividend payout ratio (DPR) is presently 44.44%.

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.