Otis Worldwide (NYSE:OTIS) Upgraded by Sanford C. Bernstein to “Strong-Buy” Rating

Otis Worldwide (NYSE:OTIS) was upgraded by Sanford C. Bernstein to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Royal Bank Of Canada decreased their price objective on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a research report on Friday, April 24th. UBS Group set a $105.00 target price on shares of Otis Worldwide in a research report on Thursday, April 23rd. Finally, Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Otis Worldwide presently has an average rating of “Hold” and an average price target of $97.58.

Otis Worldwide Trading Down 2.2%

NYSE:OTIS opened at $69.69 on Tuesday. The company has a market capitalization of $26.74 billion, a P/E ratio of 18.53, a P/E/G ratio of 2.32 and a beta of 0.91. Otis Worldwide has a 12 month low of $69.16 and a 12 month high of $101.42. The business’s 50-day moving average is $75.31 and its 200 day moving average is $83.34.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The company had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the company earned $0.92 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, research analysts forecast that Otis Worldwide will post 4.2 earnings per share for the current year.

Institutional Trading of Otis Worldwide

A number of institutional investors have recently made changes to their positions in the business. State Street Corp raised its stake in Otis Worldwide by 0.8% in the 4th quarter. State Street Corp now owns 16,128,197 shares of the company’s stock worth $1,408,798,000 after acquiring an additional 121,207 shares during the last quarter. Geode Capital Management LLC raised its stake in Otis Worldwide by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 10,788,225 shares of the company’s stock worth $945,020,000 after acquiring an additional 29,636 shares during the last quarter. Norges Bank purchased a new position in Otis Worldwide in the 4th quarter worth $770,125,000. Franklin Resources Inc. raised its stake in Otis Worldwide by 5.7% in the 4th quarter. Franklin Resources Inc. now owns 7,842,153 shares of the company’s stock worth $685,012,000 after acquiring an additional 422,519 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Otis Worldwide by 3.1% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,778,152 shares of the company’s stock worth $436,866,000 after acquiring an additional 145,817 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

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.