Otis Worldwide Co. (NYSE:OTIS) Receives Consensus Recommendation of "Hold" from Analysts

Otis Worldwide Co. (NYSE:OTIS - Get Free Report) has been given a consensus rating of "Hold" by the ten analysts that are covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $102.71.

OTIS has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of Otis Worldwide from $95.00 to $108.00 and gave the company an "equal weight" rating in a report on Monday, October 7th. Royal Bank of Canada reissued an "outperform" rating and issued a $110.00 price target on shares of Otis Worldwide in a research note on Thursday, September 19th. Wolfe Research lowered shares of Otis Worldwide from an "outperform" rating to a "peer perform" rating in a research report on Tuesday. Morgan Stanley assumed coverage on Otis Worldwide in a research report on Friday, September 6th. They issued an "equal weight" rating and a $97.00 price objective for the company. Finally, Barclays lifted their target price on Otis Worldwide from $90.00 to $96.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 2nd.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC grew its stake in Otis Worldwide by 93.5% during the 4th quarter. V Square Quantitative Management LLC now owns 9,617 shares of the company's stock worth $860,000 after purchasing an additional 4,647 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Otis Worldwide during the fourth quarter worth approximately $1,005,000. Centaurus Financial Inc. raised its holdings in Otis Worldwide by 9.7% in the fourth quarter. Centaurus Financial Inc. now owns 3,351 shares of the company's stock valued at $300,000 after acquiring an additional 297 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in Otis Worldwide by 4.9% in the fourth quarter. EP Wealth Advisors LLC now owns 4,427 shares of the company's stock valued at $396,000 after acquiring an additional 208 shares in the last quarter. Finally, American International Group Inc. lifted its stake in Otis Worldwide by 0.3% in the fourth quarter. American International Group Inc. now owns 109,475 shares of the company's stock worth $9,795,000 after acquiring an additional 292 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company's stock.

Otis Worldwide Stock Performance

Shares of NYSE OTIS traded up $1.05 during mid-day trading on Friday, reaching $104.03. The company's stock had a trading volume of 2,408,386 shares, compared to its average volume of 2,120,132. The stock has a 50-day moving average of $96.21 and a two-hundred day moving average of $96.40. The stock has a market capitalization of $41.67 billion, a P/E ratio of 29.06 and a beta of 1.03. Otis Worldwide has a 1-year low of $73.32 and a 1-year high of $105.39.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.03. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.74 billion. Otis Worldwide had a net margin of 10.35% and a negative return on equity of 31.65%. Otis Worldwide's quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. Analysts predict that Otis Worldwide will post 3.88 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Friday, August 16th. Otis Worldwide's payout ratio is 43.58%.

About Otis Worldwide

Otis Worldwide Corporation engages in manufacturing, installation, and servicing of elevators and escalators in the United States, China, and internationally. The company operates in two segments, New Equipment and Service. The New Equipment segment designs, manufactures, sells, and installs a range of passenger and freight elevators, as well as escalators and moving walkways for residential and commercial buildings, and infrastructure projects.