Otis Worldwide Corporation (NYSE:OTIS) Receives Consensus Recommendation of “Hold” from Analysts

Otis Worldwide Corporation (NYSE:OTIS) has been given an average recommendation of “Hold” by the ten ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $101.4444.

A number of brokerages recently issued reports on OTIS. New Street Research set a $98.00 price objective on shares of Otis Worldwide in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Otis Worldwide in a research note on Monday, December 29th. JPMorgan Chase & Co. cut Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 price target for the company. in a report on Friday, January 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. Finally, Wall Street Zen cut Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th.

Insider Activity at Otis Worldwide

In other Otis Worldwide news, insider Montlivault Stephane De sold 47,944 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $92.25, for a total value of $4,422,834.00. Following the sale, the insider owned 29,176 shares in the company, valued at $2,691,486. This trade represents a 62.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Neil Green sold 6,000 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $86.45, for a total transaction of $518,700.00. Following the sale, the executive vice president directly owned 3,773 shares in the company, valued at approximately $326,175.85. The trade was a 61.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 158,013 shares of company stock worth $14,337,635 in the last 90 days. 0.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Otis Worldwide

Large investors have recently bought and sold shares of the company. Root Financial Partners LLC bought a new stake in shares of Otis Worldwide during the third quarter worth about $26,000. Camelot Portfolios LLC bought a new stake in Otis Worldwide during the 4th quarter worth approximately $26,000. Stance Capital LLC acquired a new position in Otis Worldwide in the 3rd quarter valued at approximately $27,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Otis Worldwide during the fourth quarter valued at $27,000. Finally, Chilton Capital Management LLC bought a new position in shares of Otis Worldwide during the second quarter valued at $31,000. 88.03% of the stock is currently owned by institutional investors.

Otis Worldwide Stock Up 1.2%

OTIS stock opened at $93.65 on Tuesday. Otis Worldwide has a 52 week low of $84.00 and a 52 week high of $106.83. The business has a 50-day simple moving average of $89.62 and a 200 day simple moving average of $89.31. The company has a market cap of $36.41 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 2.79 and a beta of 1.00.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $1.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.03. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.88 billion. Otis Worldwide had a net margin of 9.59% and a negative return on equity of 30.42%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 earnings per share. On average, analysts anticipate that Otis Worldwide will post 4.04 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 13th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.68 annualized dividend and a dividend yield of 1.8%. Otis Worldwide’s payout ratio is 48.00%.

Otis Worldwide Company Profile

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.