Otis Worldwide (NYSE:OTIS) Raised to “Outperform” at BNP Paribas Exane

Otis Worldwide (NYSE:OTIS) was upgraded by BNP Paribas Exane from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has a $105.00 target price on the stock. BNP Paribas Exane’s target price would suggest a potential upside of 19.54% from the company’s previous close.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. raised their price target on Otis Worldwide from $105.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Wolfe Research set a $109.00 price objective on shares of Otis Worldwide and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Weiss Ratings restated a “hold (c)” rating on shares of Otis Worldwide in a report on Monday, December 1st. Wells Fargo & Company upped their price target on shares of Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Finally, Barclays increased their price target on shares of Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Otis Worldwide presently has an average rating of “Hold” and a consensus target price of $103.88.

Otis Worldwide Stock Performance

OTIS stock opened at $87.84 on Tuesday. The company has a 50 day moving average price of $89.84 and a two-hundred day moving average price of $91.43. The stock has a market capitalization of $34.23 billion, a P/E ratio of 25.91, a PEG ratio of 3.32 and a beta of 1.01. Otis Worldwide has a one year low of $84.25 and a one year high of $106.83.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.05. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.65 billion. Otis Worldwide had a negative return on equity of 30.67% and a net margin of 9.41%.The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 EPS. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. Research analysts forecast that Otis Worldwide will post 4.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Michael Patrick Ryan sold 3,028 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $91.69, for a total transaction of $277,637.32. Following the completion of the sale, the chief accounting officer directly owned 2,628 shares of the company’s stock, valued at approximately $240,961.32. This represents a 53.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Chicago Partners Investment Group LLC purchased a new stake in shares of Otis Worldwide during the 1st quarter valued at about $264,000. Zions Bancorporation National Association UT acquired a new stake in Otis Worldwide in the first quarter valued at approximately $73,000. Townsquare Capital LLC raised its stake in shares of Otis Worldwide by 18.1% during the first quarter. Townsquare Capital LLC now owns 8,298 shares of the company’s stock valued at $856,000 after purchasing an additional 1,272 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Otis Worldwide during the first quarter worth $7,336,000. Finally, Nuveen LLC acquired a new position in shares of Otis Worldwide during the first quarter worth $91,989,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Company Profile

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.