Otis Worldwide (NYSE:OTIS) Sets New 52-Week Low – Time to Sell?

Shares of Otis Worldwide Corporation (NYSE:OTIS) reached a new 52-week low during trading on Friday . The stock traded as low as $75.23 and last traded at $75.0850, with a volume of 2251457 shares changing hands. The stock had previously closed at $77.47.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Otis Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Evercore started coverage on shares of Otis Worldwide in a research report on Monday, April 13th. They set an “outperform” rating and a $100.00 price objective for the company. New Street Research set a $98.00 target price on Otis Worldwide in a research note on Friday, January 30th. Wells Fargo & Company reduced their target price on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. Finally, UBS Group set a $105.00 price target on Otis Worldwide in a research note on Thursday, April 23rd. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $97.64.

Otis Worldwide Stock Performance

The firm’s fifty day moving average is $81.47 and its 200-day moving average is $86.57. The company has a market capitalization of $28.71 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 2.45 and a beta of 0.95.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. Otis Worldwide’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, analysts expect that Otis Worldwide Corporation will post 4.18 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 15th will be issued a dividend of $0.44 per share. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is 44.68%.

Insiders Place Their Bets

In other news, CAO Michael Patrick Ryan sold 1,182 shares of Otis Worldwide stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $90.06, for a total transaction of $106,450.92. Following the sale, the chief accounting officer directly owned 3,504 shares of the company’s stock, valued at approximately $315,570.24. This trade represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Montlivault Stephane De sold 47,944 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $92.25, for a total value of $4,422,834.00. Following the sale, the insider owned 29,176 shares in the company, valued at approximately $2,691,486. This trade represents a 62.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Otis Worldwide

Hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC bought a new stake in Otis Worldwide during the 3rd quarter worth approximately $26,000. Camelot Portfolios LLC bought a new position in shares of Otis Worldwide during the fourth quarter valued at $26,000. Stance Capital LLC acquired a new position in shares of Otis Worldwide during the third quarter worth $27,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Otis Worldwide in the fourth quarter worth $27,000. Finally, Rakuten Investment Management Inc. bought a new stake in shares of Otis Worldwide in the third quarter worth $31,000. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Company Profile

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.