Analysts Set Otis Worldwide Corporation (NYSE:OTIS) Price Target at $92.91

by · The Cerbat Gem

Shares of Otis Worldwide Corporation (NYSE:OTIS – Get Free Report) have been given a consensus recommendation of “Hold” by the ten analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $92.9091.

A number of equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Sanford C. Bernstein lowered their price target on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 target price on shares of Otis Worldwide in a research note on Tuesday, July 28th. Evercore reiterated an “outperform” rating and set a $95.00 price target on shares of Otis Worldwide in a report on Thursday, July 23rd. Finally, Morgan Stanley set a $75.00 target price on shares of Otis Worldwide in a report on Monday, August 10th.

Check Out Our Latest Report on OTIS

Hedge Funds Weigh In On Otis Worldwide

Several hedge funds have recently made changes to their positions in OTIS. Sequoia Financial Advisors LLC raised its position in Otis Worldwide by 12.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,387 shares of the company’s stock valued at $744,000 after purchasing an additional 1,166 shares during the last quarter. Van Hulzen Asset Management LLC acquired a new stake in Otis Worldwide in the second quarter valued at $286,000. National Pension Service grew its position in shares of Otis Worldwide by 16.6% in the second quarter. National Pension Service now owns 761,439 shares of the company’s stock valued at $54,519,000 after purchasing an additional 108,638 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in Otis Worldwide by 19.5% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,347 shares of the company’s stock valued at $240,000 after purchasing an additional 547 shares in the last quarter. Finally, NorthRock Partners LLC boosted its holdings in shares of Otis Worldwide by 80.2% during the second quarter. NorthRock Partners LLC now owns 9,845 shares of the company’s stock worth $705,000 after purchasing an additional 4,381 shares during the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

Shares of NYSE OTIS opened at $70.32 on Friday. Otis Worldwide has a fifty-two week low of $67.64 and a fifty-two week high of $94.57. The business’s 50 day moving average price is $72.03 and its 200-day moving average price is $75.33. The company has a market cap of $26.77 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 2.43 and a beta of 0.88.

Otis Worldwide (NYSE:OTIS – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 analysts’ expectations of $3.76 billion. During the same period in the previous year, the company earned $1.05 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Sell-side analysts predict that Otis Worldwide will post 4.03 earnings per share for the current year.

Otis Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 14th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. Otis Worldwide’s payout ratio is presently 45.24%.

About Otis Worldwide

(Get Free Report)

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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