Otis Worldwide Corporation (NYSE:OTIS) Plans Dividend Increase – $0.44 Per Share

Otis Worldwide Corporation (NYSE:OTIS) declared a quarterly dividend on Tuesday, April 21st. Stockholders of record on Friday, May 15th will be given a dividend of 0.44 per share on Friday, June 12th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, May 15th. This is a 4.8% increase from Otis Worldwide’s previous quarterly dividend of $0.42.

Otis Worldwide has increased its dividend by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Otis Worldwide has a dividend payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Otis Worldwide to earn $4.75 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 35.4%.

Otis Worldwide Trading Down 2.3%

OTIS opened at $78.90 on Wednesday. The stock has a 50-day moving average price of $84.21 and a 200-day moving average price of $87.49. Otis Worldwide has a 12-month low of $75.27 and a 12-month high of $101.42. The stock has a market capitalization of $30.67 billion, a P/E ratio of 22.54, a PEG ratio of 2.47 and a beta of 1.05.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.19). Otis Worldwide had a negative return on equity of 30.42% and a net margin of 9.59%.The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, equities research analysts predict that Otis Worldwide will post 4.23 EPS for the current year.

Wall Street Analyst Weigh In

OTIS has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Otis Worldwide in a report on Friday, March 27th. Wall Street Zen cut Otis Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Wolfe Research lowered Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Wells Fargo & Company decreased their price target on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Finally, JPMorgan Chase & Co. downgraded Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 price objective for the company. in a research report on Friday, January 30th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Otis Worldwide currently has a consensus rating of “Hold” and a consensus price target of $98.90.

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.