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

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

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

Otis Worldwide Stock Up 1.2%

OTIS opened at $69.31 on Friday. Otis Worldwide has a 52-week low of $67.64 and a 52-week high of $94.57. The company has a market cap of $26.38 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 2.41 and a beta of 0.88. The firm’s 50-day moving average price is $71.88 and its 200-day moving average price is $75.03.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. Otis Worldwide’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the business earned $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, research analysts anticipate that Otis Worldwide will post 4.03 EPS for the current fiscal 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. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, August 14th. Otis Worldwide’s dividend payout ratio (DPR) is presently 45.24%.

Institutional Investors Weigh In On Otis Worldwide

A number of institutional investors and hedge funds have recently modified their holdings of the company. Orion Capital Management LLC acquired a new stake in Otis Worldwide during the 2nd quarter valued at approximately $27,000. MidFirst Bank purchased a new stake in shares of Otis Worldwide in the 2nd quarter valued at $28,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Otis Worldwide in the second quarter worth $28,000. Elevation Wealth Partners LLC increased its stake in shares of Otis Worldwide by 1,910.0% in the second quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock worth $29,000 after acquiring an additional 382 shares during the period. Finally, Addison Advisors LLC purchased a new position in shares of Otis Worldwide during the second quarter worth $29,000. 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.