Otis Worldwide (NYSE:OTIS) Earns Neutral Rating from Analysts at UBS Group

Investment analysts at UBS Group initiated coverage on shares of Otis Worldwide (NYSE:OTIS - Get Free Report) in a note issued to investors on Wednesday, MarketBeat reports. The brokerage set a "neutral" rating and a $113.00 price target on the stock. UBS Group's target price suggests a potential upside of 12.56% from the company's previous close.

A number of other equities analysts have also commented on OTIS. Royal Bank of Canada reissued an "outperform" rating and set a $110.00 price target on shares of Otis Worldwide in a research note on Thursday, September 19th. Morgan Stanley started coverage on Otis Worldwide in a research note on Friday, September 6th. They set an "equal weight" rating and a $97.00 price target for the company. Wolfe Research lowered Otis Worldwide from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, October 8th. Wells Fargo & Company dropped their price target on Otis Worldwide from $108.00 to $105.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. Finally, Barclays dropped their price target on Otis Worldwide from $96.00 to $94.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $104.57.

Otis Worldwide Trading Up 0.7 %

OTIS stock traded up $0.66 during trading on Wednesday, reaching $100.39. The stock had a trading volume of 1,962,981 shares, compared to its average volume of 2,116,551. Otis Worldwide has a 52 week low of $82.43 and a 52 week high of $106.33. The stock's 50 day moving average is $99.99 and its two-hundred day moving average is $97.19. The firm has a market cap of $40.10 billion, a PE ratio of 25.04 and a beta of 1.04.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.96 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by ($0.01). The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.59 billion. Otis Worldwide had a net margin of 11.48% and a negative return on equity of 31.28%. The firm's revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.95 EPS. On average, research analysts anticipate that Otis Worldwide will post 3.85 EPS for the current year.

Insiders Place Their Bets

In other Otis Worldwide news, EVP Abbe Luersman sold 9,000 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $101.02, for a total transaction of $909,180.00. Following the transaction, the executive vice president now directly owns 9,992 shares in the company, valued at $1,009,391.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Townsquare Capital LLC grew its stake in Otis Worldwide by 7.4% during the 3rd quarter. Townsquare Capital LLC now owns 5,225 shares of the company's stock worth $543,000 after buying an additional 359 shares during the last quarter. J. Stern & Co. LLP grew its stake in Otis Worldwide by 3.5% during the 3rd quarter. J. Stern & Co. LLP now owns 391,709 shares of the company's stock worth $40,714,000 after buying an additional 13,096 shares during the last quarter. Brooklyn Investment Group purchased a new position in Otis Worldwide during the 3rd quarter worth $102,000. Prospector Partners LLC grew its stake in Otis Worldwide by 3.9% during the 3rd quarter. Prospector Partners LLC now owns 128,815 shares of the company's stock worth $13,389,000 after buying an additional 4,890 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its position in Otis Worldwide by 5.3% during the 3rd quarter. D.A. Davidson & CO. now owns 13,490 shares of the company's stock worth $1,402,000 after acquiring an additional 681 shares during the period. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

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.