Otis Worldwide Corporation (NYSE:OTIS) Receives Average Rating of “Hold” from Brokerages

Otis Worldwide Corporation (NYSE:OTIS) has received an average rating of “Hold” from the twelve brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $97.5833.

A number of equities analysts have issued reports on OTIS shares. Morgan Stanley set a $88.00 price objective on shares of Otis Worldwide in a research report on Friday, April 24th. UBS Group set a $105.00 price objective on shares of Otis Worldwide in a research report on Thursday, April 23rd. Wolfe Research cut shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Barclays decreased their price objective on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 23rd. Finally, Evercore initiated coverage on shares of Otis Worldwide in a research report on Monday, April 13th. They issued an “outperform” rating and a $100.00 price objective on the stock.

Hedge Funds Weigh In On Otis Worldwide

Several hedge funds and other institutional investors have recently modified their holdings of OTIS. Jones Financial Companies Lllp increased its position in shares of Otis Worldwide by 3.4% during the first quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock valued at $949,000 after buying an additional 304 shares during the period. Empowered Funds LLC increased its position in shares of Otis Worldwide by 10.5% during the first quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock valued at $928,000 after buying an additional 857 shares during the period. Acadian Asset Management LLC boosted its stake in Otis Worldwide by 63.7% during the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock worth $417,000 after acquiring an additional 1,574 shares in the last quarter. Baird Financial Group Inc. boosted its stake in Otis Worldwide by 7.1% during the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock worth $3,193,000 after acquiring an additional 2,132 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Otis Worldwide by 13.3% during the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock worth $1,012,000 after acquiring an additional 1,196 shares in the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Trading Up 0.2%

OTIS stock opened at $73.32 on Monday. The firm’s 50-day moving average price is $73.67 and its two-hundred day moving average price is $82.06. Otis Worldwide has a 12-month low of $69.16 and a 12-month high of $101.42. The stock has a market capitalization of $28.13 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 2.39 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last released 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 firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. Otis Worldwide’s revenue was up 6.4% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Equities analysts predict that Otis Worldwide will post 4.2 EPS for the current year.

Otis Worldwide Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were given a dividend of $0.44 per share. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, May 15th. Otis Worldwide’s dividend payout ratio is presently 46.81%.

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.