Otis Worldwide (NYSE:OTIS) Price Target Raised to $95.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company raised the price target for Otis Worldwide from $93.00 to $95.00, suggesting a potential upside of 4.96% from its previous close, maintaining an "equal weight" rating.
• Various brokerages have recently updated their ratings for Otis, with Morgan Stanley setting a price target of $105.00 while Deutsche Bank issued a "hold" rating with a target of $109.00.
• Otis Worldwide's stock is currently trading at $90.51, following a 1.1% decline, and has reported a quarterly revenue of $3.60 billion with a net margin of 10.68%.

Otis Worldwide (NYSE:OTIS - Get Free Report) had its price target upped by equities researchers at Wells Fargo & Company from $93.00 to $95.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 4.96% from the stock's previous close.

A number of other brokerages also recently commented on OTIS. Morgan Stanley lifted their price objective on shares of Otis Worldwide from $97.00 to $105.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada cut their price objective on Otis Worldwide from $108.00 to $105.00 and set an "outperform" rating for the company in a research report on Monday, July 28th. JPMorgan Chase & Co. increased their price target on Otis Worldwide from $101.00 to $105.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. Wolfe Research raised Otis Worldwide from an "underperform" rating to a "peer perform" rating in a report on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Otis Worldwide in a research report on Monday, July 14th. They issued a "hold" rating and a $109.00 price target on the stock. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $103.25.

Otis Worldwide Trading Down 1.1%

Shares of OTIS stock traded down $1.03 on Monday, reaching $90.51. The company had a trading volume of 92,765 shares, compared to its average volume of 2,817,162. The stock has a market cap of $35.52 billion, a PE ratio of 23.95, a PEG ratio of 3.59 and a beta of 1.00. The company has a 50-day moving average of $88.13 and a 200-day moving average of $94.04. Otis Worldwide has a 12 month low of $84.25 and a 12 month 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, beating the consensus estimate 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 quarter in the prior year, the firm earned $1.06 earnings per share. The business's quarterly 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 anticipate that Otis Worldwide will post 4.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. acquired a new position in Otis Worldwide during the 1st quarter worth approximately $25,000. Wayfinding Financial LLC bought a new stake in shares of Otis Worldwide in the first quarter valued at $31,000. Chilton Capital Management LLC bought a new position in shares of Otis Worldwide during the 2nd quarter worth $31,000. Nemes Rush Group LLC increased its holdings in Otis Worldwide by 75.4% in the 2nd quarter. Nemes Rush Group LLC now owns 314 shares of the company's stock worth $31,000 after acquiring an additional 135 shares during the last quarter. Finally, Cheviot Value Management LLC purchased a new stake in Otis Worldwide in the 1st quarter worth about $31,000. 88.03% of the stock is owned by institutional investors.

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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