Otis Worldwide Corporation (NYSE:OTIS) Given Consensus Rating of “Hold” by Brokerages

Shares of Otis Worldwide Corporation (NYSE:OTIS) have received an average rating of “Hold” from the ten research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $92.9091.

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

Otis Worldwide Stock Performance

Shares of OTIS opened at $68.55 on Friday. Otis Worldwide has a 52-week low of $67.64 and a 52-week high of $94.57. The business’s fifty day moving average is $71.72 and its 200-day moving average is $74.82. The firm has a market cap of $26.09 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.42 and a beta of 0.88.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the prior year, the company earned $1.05 EPS. Otis Worldwide’s revenue for the quarter was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, research analysts forecast that Otis Worldwide will post 4.03 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 14th were given 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 yield of 2.6%. Otis Worldwide’s payout ratio is currently 45.24%.

Hedge Funds Weigh In On Otis Worldwide

Several large investors have recently bought and sold shares of OTIS. Orion Capital Management LLC acquired a new position in shares of Otis Worldwide in the second quarter valued at approximately $27,000. Reflection Asset Management bought a new stake in Otis Worldwide during the 4th quarter worth approximately $34,000. MidFirst Bank bought a new stake in Otis Worldwide during the 4th quarter worth approximately $35,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Otis Worldwide in the 2nd quarter valued at approximately $28,000. Finally, Elevation Wealth Partners LLC increased its position in Otis Worldwide by 1,910.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock valued at $29,000 after acquiring an additional 382 shares during the period. 88.03% of the stock is currently owned by institutional investors.

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.