Otis Worldwide (NYSE:OTIS - Get Free Report) was upgraded by stock analysts at Wolfe Research from a "peer perform" rating to an "outperform" rating in a report issued on Wednesday, MarketBeat reports. The firm currently has a $109.00 price target on the stock. Wolfe Research's target price indicates a potential upside of 20.49% from the stock's previous close.
Other research analysts also recently issued research reports about the company. Royal Bank Of Canada reduced their target price on Otis Worldwide from $108.00 to $105.00 and set an "outperform" rating on the stock in a report on Monday, July 28th. Barclays dropped their price target on Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating on the stock in a research report on Thursday, July 24th. Wells Fargo & Company boosted their price target on Otis Worldwide from $93.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Monday. JPMorgan Chase & Co. boosted 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. Finally, Morgan Stanley boosted their price target on Otis Worldwide from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $103.88.
Check Out Our Latest Report on Otis Worldwide
Otis Worldwide Stock Performance
OTIS stock opened at $90.47 on Wednesday. Otis Worldwide has a fifty-two week low of $84.25 and a fifty-two week high of $106.83. The business's 50 day moving average price is $88.34 and its two-hundred day moving average price is $93.92. The company has a market capitalization of $35.51 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 3.54 and a beta of 1.00.
Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.05 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the prior year, the business earned $1.06 EPS. The business's revenue for the quarter 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
A number of institutional investors have recently made changes to their positions in OTIS. NBC Securities Inc. bought a new stake in Otis Worldwide in the first quarter worth about $25,000. Wayfinding Financial LLC purchased a new position in Otis Worldwide during the first quarter valued at approximately $31,000. Cheviot Value Management LLC purchased a new position in Otis Worldwide in the first quarter worth $31,000. Chilton Capital Management LLC purchased a new position in Otis Worldwide in the second quarter worth $31,000. Finally, Nemes Rush Group LLC lifted its stake in shares of Otis Worldwide by 75.4% during the second quarter. Nemes Rush Group LLC now owns 314 shares of the company's stock worth $31,000 after buying an additional 135 shares during the period. Institutional investors own 88.03% of the company's stock.
Otis Worldwide Company Profile
(
Get Free Report)
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.
Further Reading

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