Otis Worldwide (NYSE:OTIS) Hits New 52-Week Low – What’s Next?

Otis Worldwide Corporation (NYSE:OTIS)’s stock price reached a new 52-week low on Monday . The stock traded as low as $67.42 and last traded at $67.6540, with a volume of 914613 shares trading hands. The stock had previously closed at $68.52.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OTIS shares. Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Otis Worldwide in a report on Monday. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a research report on Tuesday, July 28th. Morgan Stanley set a $75.00 target price on Otis Worldwide in a research note on Monday, August 10th. Finally, Evercore restated an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a research report on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $92.91.

Otis Worldwide Stock Performance

The business’s 50 day moving average price is $71.72 and its 200-day moving average price is $74.68. The firm has a market capitalization of $25.59 billion, a PE ratio of 17.28, a P/E/G ratio of 2.41 and a beta of 0.88.

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, hitting analysts’ consensus estimates of $1.01. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the company posted $1.05 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, analysts anticipate that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Announces Dividend

The company also recently disclosed 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 of this dividend was Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.6%. Otis Worldwide’s payout ratio is presently 45.24%.

Hedge Funds Weigh In On Otis Worldwide

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Otis Worldwide during the second quarter worth about $2,264,017,000. Norges Bank acquired a new position in shares of Otis Worldwide in the fourth quarter valued at approximately $770,125,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Otis Worldwide in the second quarter valued at approximately $423,739,000. Canada Pension Plan Investment Board purchased a new stake in Otis Worldwide during the 2nd quarter worth approximately $223,003,000. Finally, Bank of New York Mellon Corp purchased a new stake in Otis Worldwide during the 2nd quarter worth approximately $196,298,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

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.