Wells Fargo & Company Has Lowered Expectations for Otis Worldwide (NYSE:OTIS) Stock Price

Otis Worldwide (NYSE:OTIS) had its price objective decreased by research analysts at Wells Fargo & Company from $77.00 to $75.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 2.07% from the company’s current price.

Several other equities research analysts have also recently issued reports on OTIS. Morgan Stanley set a $75.00 target price on shares of Otis Worldwide in a report on Monday, August 10th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Otis Worldwide in a research report on Thursday. Evercore reiterated an “outperform” rating and set a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Finally, Royal Bank Of Canada set a $90.00 price target on Otis Worldwide in a research note on Tuesday, July 28th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $90.80.

Otis Worldwide Stock Up 0.8%

OTIS traded up $0.61 during midday trading on Thursday, hitting $73.48. 249,915 shares of the company traded hands, compared to its average volume of 3,918,472. The company’s 50-day moving average is $69.55 and its 200 day moving average is $76.58. The firm has a market capitalization of $27.97 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 2.64 and a beta of 0.87. Otis Worldwide has a 52 week low of $63.58 and a 52 week high of $94.57.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same period in the previous year, the business posted $1.05 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, sell-side analysts predict that Otis Worldwide will post 4.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Otis Worldwide

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in Otis Worldwide in the second quarter worth approximately $2,264,017,000. State Street Corp boosted its stake in shares of Otis Worldwide by 2.9% during the 2nd quarter. State Street Corp now owns 16,664,994 shares of the company’s stock worth $1,193,214,000 after acquiring an additional 463,491 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Otis Worldwide during the 2nd quarter valued at $423,739,000. Van ECK Associates Corp grew its position in shares of Otis Worldwide by 0.6% during the 2nd quarter. Van ECK Associates Corp now owns 3,993,011 shares of the company’s stock valued at $285,900,000 after acquiring an additional 24,914 shares during the period. Finally, Canoe Financial LP grew its position in shares of Otis Worldwide by 4.7% during the 3rd quarter. Canoe Financial LP now owns 3,188,862 shares of the company’s stock valued at $205,618,000 after acquiring an additional 144,386 shares during the period. Institutional investors own 88.03% of the company’s stock.

Key Otis Worldwide News

Here are the key news stories impacting Otis Worldwide this week:

• Positive Sentiment: Third-quarter adjusted earnings were $1.05 per share, above the $1.01 analyst consensus, while revenue increased 6.1% year over year to approximately $3.91 billion, exceeding expectations of $3.85 billion. Otis Worldwide Q3 earnings and revenues beat estimates
• Positive Sentiment: Service revenue rose 8%, or 7% organically, helping drive the results. Service operating margin improved sequentially by 100 basis points to 24.2%, while modernization orders increased 10% at constant currency and backlog grew 20%. Otis reports third quarter 2026 results
• Positive Sentiment: Otis generated $337 million of third-quarter operating cash flow and $272 million of adjusted free cash flow. Year to date, it returned approximately $1.3 billion to shareholders through about $800 million of repurchases and $500 million of dividends. Otis third-quarter net income and 2026 outlook

About Otis Worldwide

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

Otis provides equipment for new construction as well as maintenance, repair and modernization services for existing systems. Its service operations support equipment from Otis and other manufacturers, helping building owners and operators manage the safety, performance and lifecycle of vertical transportation systems.

The company traces its history to 1853, when Elisha Otis demonstrated a safety device for elevators.