Otis Worldwide (NYSE:OTIS) Price Target Raised to $105.00

Key Points

• JPMorgan Chase & Co. raised its price target for Otis Worldwide to $105.00, suggesting a potential upside of 15.38% from the current price.
• The company recently reported $1.05 earnings per share, beating analysts' estimates, though it experienced a slight revenue decline year-over-year.
• Analyst ratings are mixed, with two buy ratings, five hold ratings, and two sell ratings, while the consensus rating remains a "Hold" with an average target price of $103.00.

Otis Worldwide (NYSE:OTIS - Get Free Report) had its price objective increased by research analysts at JPMorgan Chase & Co. from $101.00 to $105.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 15.38% from the company's current price.

A number of other research firms have also recently issued reports on OTIS. Zacks Research cut Otis Worldwide from a "hold" rating to a "strong sell" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft assumed coverage on Otis Worldwide in a research note on Monday, July 14th. They issued a "hold" rating and a $109.00 target price for the company. Barclays reduced their price objective on Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating for the company in a research report on Thursday, July 24th. Wells Fargo & Company reduced their price objective on Otis Worldwide from $100.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, July 24th. Finally, Wolfe Research raised Otis Worldwide from an "underperform" rating to a "peer perform" rating in a research report on Friday, July 25th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Otis Worldwide currently has a consensus rating of "Hold" and an average target price of $103.00.

Otis Worldwide Trading Up 1.5%

NYSE:OTIS opened at $91.00 on Thursday. Otis Worldwide has a 1 year low of $84.25 and a 1 year high of $106.83. The stock has a market cap of $35.72 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 4.29 and a beta of 0.98. The stock has a 50-day moving average price of $89.76 and a two-hundred day moving average price of $95.06.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.73 billion. During the same period in the previous year, the firm earned $1.06 earnings per share. The company'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. Sell-side analysts forecast that Otis Worldwide will post 4.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OTIS. Berkshire Money Management Inc. increased its stake in Otis Worldwide by 5.0% during the 2nd quarter. Berkshire Money Management Inc. now owns 2,100 shares of the company's stock worth $208,000 after acquiring an additional 100 shares during the period. Park Avenue Securities LLC increased its stake in Otis Worldwide by 0.8% during 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 during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in Otis Worldwide by 15.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 828 shares of the company's stock worth $85,000 after acquiring an additional 110 shares during the period. PFG Investments LLC increased its stake in Otis Worldwide by 3.7% during the 2nd quarter. PFG Investments LLC now owns 3,428 shares of the company's stock worth $339,000 after acquiring an additional 121 shares during the period. Finally, PKS Advisory Services LLC increased its stake in Otis Worldwide by 4.9% during the 2nd quarter. PKS Advisory Services LLC now owns 2,575 shares of the company's stock worth $255,000 after acquiring an additional 121 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

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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