Otis Worldwide (NYSE:OTIS) Sets New 1-Year Low - What's Next?

Key Points

• Otis Worldwide shares hit a new 52-week low, trading as low as $63.58 and remaining below both the 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with ratings ranging from outperform to underweight. The stock has a consensus “Hold” rating and a $92.64 price target, well above its recent trading level.
• The company reported quarterly revenue of $3.86 billion, exceeding estimates, while EPS of $1.01 matched expectations. Otis also maintains a quarterly dividend of $0.44, equivalent to a 2.8% annualized yield.

Otis Worldwide Corporation (NYSE:OTIS - Get Free Report) reached a new 52-week low during mid-day trading on Monday. The company traded as low as $63.58 and last traded at $64.0550, with a volume of 716 shares changing hands. The stock had previously closed at $64.05.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OTIS. Morgan Stanley set a $75.00 target price on shares of Otis Worldwide in a research note on Monday, August 10th. Wells Fargo & Company began coverage on shares of Otis Worldwide in a research report on Thursday, September 24th. They set an "underweight" rating and a $77.00 price target on the stock. Sanford C. Bernstein restated an "outperform" rating on shares of Otis Worldwide in a report on Monday, September 21st. Weiss Ratings reiterated a "hold (c-)" rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Finally, Evercore reaffirmed an "outperform" rating and issued a $95.00 price target on shares of Otis Worldwide in a research note on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $92.64.

Otis Worldwide Price Performance

The business has a 50 day simple moving average of $70.43 and a 200 day simple moving average of $73.20. The company has a market capitalization of $24.24 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 2.24 and a beta of 0.87.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.Otis Worldwide's revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities research analysts predict that Otis Worldwide Corporation will post 4.04 EPS for the current year.

Otis Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 14th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a yield of 2.8%. Otis Worldwide's dividend payout ratio (DPR) is currently 45.24%.

Institutional Trading of Otis Worldwide

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Icon Wealth Advisors LLC grew its stake in shares of Otis Worldwide by 7.8% in the fourth quarter. Icon Wealth Advisors LLC now owns 2,260 shares of the company's stock valued at $201,000 after buying an additional 163 shares in the last quarter. Lowe Brockenbrough & Co. Inc. increased its stake in Otis Worldwide by 6.4% during the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 2,727 shares of the company's stock worth $238,000 after buying an additional 165 shares during the period. Turtle Creek Wealth Advisors LLC lifted its stake in shares of Otis Worldwide by 1.9% in the first quarter. Turtle Creek Wealth Advisors LLC now owns 9,086 shares of the company's stock worth $700,000 after acquiring an additional 169 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Otis Worldwide by 1.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,871 shares of the company's stock valued at $1,280,000 after purchasing an additional 169 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its position in shares of Otis Worldwide by 2.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 7,102 shares of the company's stock valued at $547,000 after purchasing an additional 170 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

About Otis Worldwide

Otis Worldwide Corporation NYSE: OTIS is a global manufacturer and service provider focused on elevator and escalator systems. The company designs, manufactures, installs and maintains elevators, escalators and moving walkways for commercial buildings, residential properties, transportation hubs and other infrastructure.

Its offerings include passenger and freight elevators, escalators, moving walkways, digital monitoring solutions and related components. Otis also provides ongoing maintenance, repair, modernization and replacement services, which support the performance and safety of equipment throughout its operating life.

The company traces its origins to 1853, when Elisha Graves Otis demonstrated a safety elevator that helped make taller buildings practical.

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