Otis Worldwide Co. (NYSE:OTIS) Receives $102.71 Consensus PT from Analysts

Otis Worldwide Co. (NYSE:OTIS) has been assigned a consensus rating of “Hold” from the ten research firms that are currently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $102.71.

A number of research firms have weighed in on OTIS. Royal Bank of Canada reissued an “outperform” rating and set a $110.00 target price on shares of Otis Worldwide in a research report on Thursday, September 19th. Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, October 8th. Barclays upped their price target on shares of Otis Worldwide from $90.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their price target on Otis Worldwide from $95.00 to $108.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Morgan Stanley started coverage on Otis Worldwide in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective on the stock.

Otis Worldwide Stock Performance

Shares of OTIS opened at $105.32 on Friday. The firm has a market capitalization of $42.58 billion, a PE ratio of 30.44 and a beta of 1.03. The stock has a 50 day simple moving average of $96.44 and a 200 day simple moving average of $96.42. Otis Worldwide has a 52-week low of $73.32 and a 52-week high of $106.10.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. Otis Worldwide had a negative return on equity of 31.65% and a net margin of 10.35%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same period in the previous year, the company posted $0.92 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts predict that Otis Worldwide will post 3.88 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Friday, August 16th. Otis Worldwide’s dividend payout ratio (DPR) is 45.09%.

Institutional Investors Weigh In On Otis Worldwide

Several institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC boosted its stake in shares of Otis Worldwide by 93.5% during the 4th quarter. V Square Quantitative Management LLC now owns 9,617 shares of the company’s stock worth $860,000 after acquiring an additional 4,647 shares during the last quarter. Virtu Financial LLC purchased a new stake in Otis Worldwide in the fourth quarter worth about $1,005,000. Centaurus Financial Inc. raised its stake in shares of Otis Worldwide by 9.7% in the fourth quarter. Centaurus Financial Inc. now owns 3,351 shares of the company’s stock worth $300,000 after buying an additional 297 shares during the period. EP Wealth Advisors LLC lifted its position in shares of Otis Worldwide by 4.9% during the 4th quarter. EP Wealth Advisors LLC now owns 4,427 shares of the company’s stock valued at $396,000 after buying an additional 208 shares in the last quarter. Finally, American International Group Inc. grew its stake in shares of Otis Worldwide by 0.3% during the 4th quarter. American International Group Inc. now owns 109,475 shares of the company’s stock valued at $9,795,000 after acquiring an additional 292 shares during the period. 88.03% of the stock is owned by hedge funds and other institutional investors.

About Otis Worldwide

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.