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

Otis Worldwide (NYSE:OTIS) was upgraded by equities research analysts at BNP Paribas Exane from a “neutral” rating to an “outperform” rating in a note issued to investors on Tuesday,Finviz reports. The firm currently has a $105.00 target price on the stock. BNP Paribas Exane’s price target indicates a potential upside of 21.98% from the company’s previous close.

Several other analysts have also weighed in on the company. Zacks Research raised Otis Worldwide from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Barclays boosted their price objective on shares of Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Otis Worldwide in a report on Monday, December 1st. JPMorgan Chase & Co. upped their price target on shares of Otis Worldwide from $105.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Finally, Wolfe Research set a $109.00 price target on shares of Otis Worldwide and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Otis Worldwide presently has a consensus rating of “Hold” and an average target price of $103.88.

Otis Worldwide Trading Down 0.4%

Shares of Otis Worldwide stock opened at $86.08 on Tuesday. Otis Worldwide has a 12-month low of $84.25 and a 12-month high of $106.83. The stock has a market cap of $33.55 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 3.29 and a beta of 1.01. The company has a 50-day moving average of $90.02 and a two-hundred day moving average of $91.52.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.00 by $0.05. The business 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 company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.96 EPS. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. On average, sell-side analysts forecast that Otis Worldwide will post 4.04 EPS for the current fiscal year.

Insider Transactions at Otis Worldwide

In other Otis Worldwide news, CAO Michael Patrick Ryan sold 3,028 shares of Otis Worldwide stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $91.69, for a total value 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. The trade was a 53.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On Otis Worldwide

Several hedge funds have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Otis Worldwide during the 1st quarter worth about $612,000. State of Wyoming lifted its position in Otis Worldwide by 278.6% during the first quarter. State of Wyoming now owns 7,406 shares of the company’s stock valued at $764,000 after buying an additional 5,450 shares in the last quarter. Groupe la Francaise grew its stake in Otis Worldwide by 14.2% during the first quarter. Groupe la Francaise now owns 43,418 shares of the company’s stock worth $4,472,000 after buying an additional 5,391 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Otis Worldwide by 53.1% in the first quarter. Canada Pension Plan Investment Board now owns 470,781 shares of the company’s stock worth $48,585,000 after acquiring an additional 163,231 shares in the last quarter. Finally, Compound Planning Inc. purchased a new position in shares of Otis Worldwide in the 1st quarter valued at $314,000. 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.