Brokerages Set Otis Worldwide Corporation (NYSE:OTIS) Target Price at $92.91

Shares of Otis Worldwide Corporation (NYSE:OTIS) have been given a consensus recommendation of “Hold” by the ten research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $92.9091.

Several research analysts have issued reports on the stock. Royal Bank Of Canada set a $90.00 target price on shares of Otis Worldwide in a report on Tuesday, July 28th. Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Morgan Stanley set a $75.00 price target on shares of Otis Worldwide in a research report on Monday, August 10th. Sanford C. Bernstein dropped their price objective on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. Finally, Evercore reiterated an “outperform” rating and set a $95.00 price objective on shares of Otis Worldwide in a research note on Thursday, July 23rd.

Otis Worldwide Trading Up 1.0%

Shares of OTIS stock opened at $72.18 on Tuesday. Otis Worldwide has a twelve month low of $69.16 and a twelve month high of $94.57. The stock has a fifty day simple moving average of $72.64 and a two-hundred day simple moving average of $77.45. The stock has a market capitalization of $27.48 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 2.52 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. The firm had revenue of $3.86 billion for 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 business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Research analysts predict that Otis Worldwide will post 4.03 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. Otis Worldwide’s dividend payout ratio is currently 45.24%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Camelot Portfolios LLC purchased a new stake in shares of Otis Worldwide during the 4th quarter worth $26,000. Orion Capital Management LLC purchased a new position in Otis Worldwide in the second quarter valued at about $27,000. Garton & Associates Financial Advisors LLC purchased a new position in Otis Worldwide in the fourth quarter valued at about $27,000. MidFirst Bank bought a new position in Otis Worldwide in the second quarter worth about $28,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in Otis Worldwide in the second quarter worth about $28,000. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

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.