Otis Worldwide Corporation (NYSE:OTIS) Stock Has Average Price Target of $92.64 According to Analysts

Otis Worldwide Corporation (NYSE:OTIS) has been given an average rating of “Hold” by the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $91.00.

Several equities analysts have recently issued reports on the company. Morgan Stanley set a $75.00 price target on Otis Worldwide in a research report on Monday, August 10th. Royal Bank Of Canada set a $90.00 price objective on 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. Wells Fargo & Company started coverage on Otis Worldwide in a research note on Thursday, September 24th. They set an “underweight” rating and a $77.00 target price for the company. Finally, Evercore reaffirmed an “outperform” rating and set a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd.

Otis Worldwide Price Performance

NYSE OTIS opened at $65.94 on Wednesday. Otis Worldwide has a 12 month low of $63.58 and a 12 month high of $94.57. The firm has a market capitalization of $25.10 billion, a PE ratio of 16.95, a P/E/G ratio of 2.31 and a beta of 0.87. The company’s 50 day simple moving average is $69.76 and its 200 day simple moving average is $72.70.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting the consensus estimate of $1.01. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Sell-side analysts anticipate that Otis Worldwide will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 14th were given a $0.44 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.76 annualized dividend and a yield of 2.7%. Otis Worldwide’s payout ratio is 45.24%.

Institutional Investors Weigh In On Otis Worldwide

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Otis Worldwide in the second quarter worth $2,264,017,000. State Street Corp grew its stake in Otis Worldwide by 2.9% in the 2nd quarter. State Street Corp now owns 16,664,994 shares of the company’s stock valued at $1,193,214,000 after buying an additional 463,491 shares during the last quarter. Franklin Resources Inc. grew its stake in Otis Worldwide by 5.7% in the 4th quarter. Franklin Resources Inc. now owns 7,842,153 shares of the company’s stock valued at $685,012,000 after buying an additional 422,519 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Otis Worldwide in the 2nd quarter worth $423,739,000. Finally, Van ECK Associates Corp raised its holdings in Otis Worldwide by 97.9% in the 4th quarter. Van ECK Associates Corp now owns 4,002,589 shares of the company’s stock worth $349,626,000 after acquiring an additional 1,979,819 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Company Profile

Otis Worldwide Corporation (NYSE: OTIS) is a global manufacturer and service provider focused on elevator and escalator systems. The company designs, manufactures, installs and maintains elevators, escalators and moving walkways for commercial buildings, residential properties, transportation hubs and other infrastructure.

Its offerings include passenger and freight elevators, escalators, moving walkways, digital monitoring solutions and related components. Otis also provides ongoing maintenance, repair, modernization and replacement services, which support the performance and safety of equipment throughout its operating life.

The company traces its origins to 1853, when Elisha Graves Otis demonstrated a safety elevator that helped make taller buildings practical.