Otis Worldwide Corporation (NYSE:OTIS) Given Average Recommendation of “Hold” by Analysts

Otis Worldwide Corporation (NYSE:OTIS) has received a consensus rating of “Hold” from the eleven analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $97.6364.

OTIS has been the topic of a number of recent research reports. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a research report on Friday, April 24th. Wolfe Research downgraded Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Evercore initiated coverage on Otis Worldwide in a research report on Monday, April 13th. They set an “outperform” rating and a $100.00 price objective on the stock. UBS Group set a $105.00 price objective on Otis Worldwide in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada decreased their price objective on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd.

Otis Worldwide Stock Performance

NYSE OTIS opened at $69.97 on Thursday. The company has a market capitalization of $26.85 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.29 and a beta of 0.91. The business’s fifty day moving average is $76.02 and its 200 day moving average is $83.96. Otis Worldwide has a fifty-two week low of $69.16 and a fifty-two week high of $101.42.

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

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, May 15th. Otis Worldwide’s dividend payout ratio (DPR) is currently 46.81%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. State Street Corp grew its stake in shares of Otis Worldwide by 0.8% during the fourth quarter. State Street Corp now owns 16,128,197 shares of the company’s stock valued at $1,408,798,000 after buying an additional 121,207 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Otis Worldwide by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 10,788,225 shares of the company’s stock valued at $945,020,000 after buying an additional 29,636 shares during the last quarter. Norges Bank bought a new position in shares of Otis Worldwide during the fourth quarter valued at approximately $770,125,000. Franklin Resources Inc. grew its stake in shares of Otis Worldwide by 5.7% during the fourth quarter. Franklin Resources Inc. now owns 7,842,153 shares of the company’s stock valued at $685,012,000 after buying an additional 422,519 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Otis Worldwide by 3.1% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,778,152 shares of the company’s stock valued at $436,866,000 after buying an additional 145,817 shares during the last quarter. Institutional investors 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.