Otis Worldwide (NYSE:OTIS) Price Target Raised to $105.00 at JPMorgan Chase & Co.

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 target lifted by equities researchers at JPMorgan Chase & Co. from $101.00 to $105.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 17.26% from the company's current price.

Other analysts have also recently issued reports about the stock. Royal Bank Of Canada dropped their target price on shares of Otis Worldwide from $108.00 to $105.00 and set an "outperform" rating on the stock in a report on Monday, July 28th. Barclays lowered their price objective 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Otis Worldwide in a research report on Monday, July 14th. They set a "hold" rating and a $109.00 price objective on the stock. Zacks Research cut shares of Otis Worldwide from a "hold" rating to a "strong sell" rating in a research note on Monday, September 15th. Finally, Wolfe Research upgraded shares of Otis Worldwide from an "underperform" rating to a "peer perform" rating in a research note on Friday, July 25th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $103.00.

Otis Worldwide Stock Performance

Otis Worldwide stock traded up $0.39 during trading on Thursday, reaching $89.55. The company had a trading volume of 814,254 shares, compared to its average volume of 2,848,162. Otis Worldwide has a 12-month low of $84.25 and a 12-month high of $106.83. The stock's 50 day moving average price is $89.36 and its two-hundred day moving average price is $94.82. The firm has a market capitalization of $35.14 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 4.29 and a beta of 0.98.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released 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 net margin of 10.68% and a negative return on equity of 30.95%. The firm 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 earned $1.06 earnings per share. Otis Worldwide's 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. As a group, research analysts expect that Otis Worldwide will post 4.04 earnings per share for the current year.

Institutional Investors Weigh In On Otis Worldwide

Hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. bought a new stake in Otis Worldwide during the 1st quarter worth about $25,000. Wayfinding Financial LLC acquired a new position in Otis Worldwide during the 1st quarter valued at about $31,000. Cheviot Value Management LLC acquired a new position in Otis Worldwide during the 1st quarter valued at about $31,000. Chilton Capital Management LLC acquired a new stake in shares of Otis Worldwide in the 2nd quarter valued at approximately $31,000. Finally, Nemes Rush Group LLC raised its position in shares of Otis Worldwide by 75.4% in the 2nd quarter. Nemes Rush Group LLC now owns 314 shares of the company's stock valued at $31,000 after acquiring an additional 135 shares during the period. Institutional investors own 88.03% of the company's stock.

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.