Otis Worldwide (NYSE:OTIS) Stock Rating Lowered by Wall Street Zen

Otis Worldwide (NYSE:OTIS) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Otis Worldwide in a research report on Monday, December 29th. Barclays lifted their price target on Otis Worldwide from $90.00 to $92.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. BNP Paribas Exane upgraded Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 price objective for the company in a research report on Tuesday, December 9th. BNP Paribas raised Otis Worldwide from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 9th. Finally, Wolfe Research set a $109.00 price target on shares of Otis Worldwide and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $103.50.

Otis Worldwide Stock Performance

Shares of OTIS opened at $90.20 on Friday. The stock has a market capitalization of $35.15 billion, a P/E ratio of 26.61, a P/E/G ratio of 3.19 and a beta of 1.02. Otis Worldwide has a 1 year low of $84.25 and a 1 year high of $106.83. The company’s fifty day moving average is $88.43 and its two-hundred day moving average is $90.24.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.05. Otis Worldwide had a net margin of 9.41% and a negative return on equity of 30.67%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. Sell-side analysts predict that Otis Worldwide will post 4.04 EPS for the current year.

Insider Buying and Selling

In other Otis Worldwide news, CAO Michael Patrick Ryan sold 3,028 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $91.69, for a total transaction of $277,637.32. Following the completion of the transaction, the chief accounting officer directly owned 2,628 shares in the company, valued at approximately $240,961.32. This trade represents a 53.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.23% of the company’s stock.

Institutional Trading of Otis Worldwide

Large investors have recently modified their holdings of the business. Atlantic Union Bankshares Corp increased its stake in shares of Otis Worldwide by 48.2% in the second quarter. Atlantic Union Bankshares Corp now owns 58,088 shares of the company’s stock worth $5,752,000 after buying an additional 18,881 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Otis Worldwide by 11.6% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 50,066 shares of the company’s stock worth $4,958,000 after purchasing an additional 5,200 shares during the last quarter. Natixis increased its position in shares of Otis Worldwide by 226.4% in the 2nd quarter. Natixis now owns 84,026 shares of the company’s stock worth $8,320,000 after purchasing an additional 58,286 shares during the last quarter. Carnegie Investment Counsel raised its stake in shares of Otis Worldwide by 19.9% in the 3rd quarter. Carnegie Investment Counsel now owns 234,368 shares of the company’s stock valued at $21,428,000 after purchasing an additional 38,931 shares in the last quarter. Finally, Tealwood Asset Management Inc. bought a new position in shares of Otis Worldwide during the second quarter worth about $1,569,000. 88.03% of the stock is currently owned by institutional investors and hedge funds.

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.