Otis Worldwide (NYSE:OTIS) Sets New 12-Month Low - Here's What Happened

Key Points

• Otis Worldwide shares fell to a new 52-week low of $67.42 during Monday trading, below both the 50-day and 200-day moving averages.
• Analysts remain mixed, with an overall “Hold” rating and a consensus price target of $92.91; individual targets range from $75 to $95.
• The company reported quarterly revenue of $3.86 billion, up 7.3% year over year, while matching earnings expectations at $1.01 per share. Otis also pays a quarterly dividend of $0.44 per share, yielding about 2.6% annually.

Otis Worldwide Corporation (NYSE:OTIS - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $67.42 and last traded at $67.6540, with a volume of 914613 shares trading hands. The stock had previously closed at $68.52.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Sanford C. Bernstein restated an "outperform" rating on shares of Otis Worldwide in a report on Monday. Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a research report on Tuesday, July 28th. Evercore reiterated an "outperform" rating and issued a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Finally, Morgan Stanley set a $75.00 target price on shares of Otis Worldwide in a research report on Monday, August 10th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $92.91.

Otis Worldwide Price Performance

The stock has a fifty day moving average of $71.72 and a 200 day moving average of $74.68. The stock has a market cap of $25.59 billion, a price-to-earnings ratio of 17.28, a P/E/G ratio of 2.41 and a beta of 0.88.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.01. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period last year, the firm posted $1.05 EPS. Otis Worldwide's revenue for the quarter was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, equities analysts expect that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 14th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, August 14th. Otis Worldwide's dividend payout ratio (DPR) is 45.24%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Capital Research Global Investors grew its holdings in Otis Worldwide by 0.6% in the 4th quarter. Capital Research Global Investors now owns 2,843,926 shares of the company's stock valued at $248,417,000 after buying an additional 18,189 shares in the last quarter. Banco Santander S.A. raised its holdings in shares of Otis Worldwide by 1,153.2% during the 2nd quarter. Banco Santander S.A. now owns 106,257 shares of the company's stock worth $7,608,000 after acquiring an additional 97,778 shares during the period. Man Group plc acquired a new position in shares of Otis Worldwide during the 2nd quarter valued at about $105,635,000. Alberta Investment Management Corp boosted its position in shares of Otis Worldwide by 44.1% during the 4th quarter. Alberta Investment Management Corp now owns 170,600 shares of the company's stock valued at $14,902,000 after acquiring an additional 52,200 shares during the last quarter. Finally, Markel Group Inc. grew its holdings in shares of Otis Worldwide by 16.6% in the second quarter. Markel Group Inc. now owns 133,620 shares of the company's stock valued at $9,567,000 after purchasing an additional 19,000 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Company Profile

Otis Worldwide Corporation NYSE: OTIS designs, manufactures, installs and services elevators, escalators and moving walkways. Its equipment is used in residential, commercial, institutional, transportation and industrial buildings, supporting the movement of people in high-rise and other densely occupied environments.

The company's offerings include passenger and freight elevators, escalators, moving walkways, destination-dispatch systems and related technologies. Otis also provides maintenance, repair, modernization and replacement services for its own equipment and products made by other manufacturers.

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