Otis Worldwide (NYSE:OTIS) Coverage Initiated by Analysts at Evercore

Key Points

• Evercore initiated coverage on Otis Worldwide with an Outperform rating and a $100 price target, implying roughly a 25% upside from the current price.
• The analyst consensus is an average "Hold" (3 Buys, 7 Holds, 1 Sell) with an average target of $98.90; Otis trades near $80, has a $31.1B market cap and a 52‑week range of $75.27–$101.42.
• Notable insider selling occurred recently — insiders sold 158,013 shares (~$14.34M) in the past 90 days (insiders now own 0.23% of the stock).

Investment analysts at Evercore assumed coverage on shares of Otis Worldwide (NYSE:OTIS - Get Free Report) in a report released on Monday. The brokerage set an "outperform" rating and a $100.00 price target on the stock. Evercore's price objective would indicate a potential upside of 25.08% from the stock's current price.

A number of other brokerages also recently commented on OTIS. New Street Research set a $98.00 target price on shares of Otis Worldwide in a report on Friday, January 30th. Barclays reduced their target price on shares of Otis Worldwide from $90.00 to $80.00 and set an "underweight" rating for the company in a report on Wednesday, April 1st. JPMorgan Chase & Co. downgraded shares of Otis Worldwide from an "overweight" rating to a "neutral" rating and set a $98.00 target price for the company. in a report on Friday, January 30th. Wolfe Research downgraded shares of Otis Worldwide from an "outperform" rating to a "peer perform" rating in a report on Wednesday, April 8th. Finally, Wall Street Zen downgraded shares of Otis Worldwide from a "buy" rating to a "hold" rating in a report on Saturday, January 10th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $98.90.

Otis Worldwide Stock Down 0.0%

NYSE OTIS opened at $79.95 on Monday. The company has a fifty day moving average of $85.36 and a two-hundred day moving average of $88.00. The firm has a market capitalization of $31.08 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 2.44 and a beta of 1.05. Otis Worldwide has a 52 week low of $75.27 and a 52 week high of $101.42.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its earnings results on Wednesday, January 28th. The company reported $1.03 earnings per share for the quarter, hitting the consensus estimate of $1.03. The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.88 billion. Otis Worldwide had a negative return on equity of 30.42% and a net margin of 9.59%.The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.93 earnings per share. Equities research analysts anticipate that Otis Worldwide will post 4.04 EPS for the current year.

Insider Transactions at Otis Worldwide

In related news, insider Montlivault Stephane De sold 47,944 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $92.25, for a total value of $4,422,834.00. Following the transaction, the insider owned 29,176 shares in the company, valued at approximately $2,691,486. This represents a 62.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Judith Fran Marks sold 56,107 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $90.89, for a total transaction of $5,099,565.23. Following the completion of the transaction, the chief executive officer owned 231,072 shares in the company, valued at approximately $21,002,134.08. This trade represents a 19.54% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 158,013 shares of company stock valued at $14,337,635. 0.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On Otis Worldwide

Several hedge funds have recently bought and sold shares of the stock. Root Financial Partners LLC purchased a new position in shares of Otis Worldwide during the 3rd quarter valued at approximately $26,000. Camelot Portfolios LLC purchased a new position in Otis Worldwide in the 4th quarter valued at $26,000. Stance Capital LLC purchased a new position in Otis Worldwide in the 3rd quarter valued at $27,000. Garton & Associates Financial Advisors LLC purchased a new position in Otis Worldwide in the 4th quarter valued at $27,000. Finally, Rakuten Investment Management Inc. purchased a new position in Otis Worldwide in the 3rd quarter valued at $31,000. Hedge funds and other institutional investors own 88.03% of the company's stock.

About Otis Worldwide

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis's business derives from long-term service contracts and responsive maintenance work.

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