Otis Worldwide (NYSE:OTIS) Stock Moved Up to “Strong Sell” by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Otis Worldwide (NYSE:OTIS) to a strong sell rating in a research report report published on Thursday morning,Zacks reports.

A number of other equities research analysts have also recently commented on the company. Morgan Stanley set a $75.00 target price on Otis Worldwide in a research note on Monday, August 10th. Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a research report on Tuesday, July 28th. Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Evercore reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a report on Thursday, July 23rd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Otis Worldwide in a report on Monday. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $92.64.

Otis Worldwide Stock Down 1.1%

Otis Worldwide stock opened at $65.97 on Thursday. The company has a market capitalization of $25.11 billion, a P/E ratio of 16.96, a PEG ratio of 2.35 and a beta of 0.88. The stock’s 50 day moving average is $71.11 and its 200 day moving average is $73.97. Otis Worldwide has a twelve month low of $65.87 and a twelve month high of $94.57.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.76 billion. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, equities analysts expect that Otis Worldwide will post 4.03 EPS for the current year.

Otis Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 14th were paid a $0.44 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.7%. Otis Worldwide’s payout ratio is currently 45.24%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Orion Capital Management LLC purchased a new stake in shares of Otis Worldwide during the second quarter valued at $27,000. Reflection Asset Management purchased a new position in Otis Worldwide in the 4th quarter worth about $34,000. MidFirst Bank purchased a new position in Otis Worldwide in the 4th quarter worth about $35,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in Otis Worldwide during the 2nd quarter valued at about $28,000. Finally, Elevation Wealth Partners LLC lifted its stake in Otis Worldwide by 1,910.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock valued at $29,000 after acquiring an additional 382 shares during the period. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Company Profile

Otis Worldwide Corporation (NYSE: OTIS) designs, manufactures, installs and services elevators, escalators and moving walkways. Its equipment is used in residential, commercial, institutional, transportation and industrial buildings, supporting the movement of people in high-rise and other densely occupied environments.

The company’s offerings include passenger and freight elevators, escalators, moving walkways, destination-dispatch systems and related technologies. Otis also provides maintenance, repair, modernization and replacement services for its own equipment and products made by other manufacturers.