Analysts Set Otis Worldwide Corporation (NYSE:OTIS) Price Target at $97.64

Shares of Otis Worldwide Corporation (NYSE:OTIS) have received an average recommendation of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $97.6364.

A number of analysts recently weighed in on OTIS shares. Wells Fargo & Company reduced their target price on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. New Street Research set a $98.00 target price on shares of Otis Worldwide in a report on Friday, January 30th. Barclays reduced their target price on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Royal Bank Of Canada reduced their target price on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a report on Friday, April 24th.

Hedge Funds Weigh In On Otis Worldwide

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OTIS. Jones Financial Companies Lllp boosted its stake in Otis Worldwide by 3.4% in the 1st quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock worth $949,000 after purchasing an additional 304 shares during the period. Empowered Funds LLC boosted its stake in Otis Worldwide by 10.5% in the 1st quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock worth $928,000 after purchasing an additional 857 shares during the period. Acadian Asset Management LLC boosted its stake in Otis Worldwide by 63.7% in the 1st quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock worth $417,000 after purchasing an additional 1,574 shares during the period. Baird Financial Group Inc. boosted its stake in Otis Worldwide by 7.1% in the 2nd quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock worth $3,193,000 after purchasing an additional 2,132 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in Otis Worldwide by 13.3% in the 2nd quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock worth $1,012,000 after purchasing an additional 1,196 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Price Performance

NYSE OTIS opened at $73.02 on Friday. Otis Worldwide has a 12 month low of $72.51 and a 12 month high of $101.42. The firm has a market capitalization of $28.02 billion, a PE ratio of 19.42, a P/E/G ratio of 2.40 and a beta of 0.95. The company’s 50 day simple moving average is $79.67 and its 200 day simple moving average is $85.93.

Otis Worldwide (NYSE:OTIS) last issued its earnings results 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 for 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 company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Sell-side analysts anticipate that Otis Worldwide will post 4.18 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 15th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s dividend payout ratio (DPR) is 44.68%.

About Otis Worldwide

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.