According to Zacks, “Otis Worldwide Corp. provides elevator and escalator manufacturing, installation and service. Otis Worldwide Corp. is based in Farmington, Connecticut. “
Several other brokerages have also recently issued reports on OTIS. Credit Suisse Group started coverage on Otis Worldwide in a report on Thursday, May 21st. They issued a hold rating and a $55.00 price objective for the company. Barclays reissued a hold rating on shares of Otis Worldwide in a report on Friday, May 8th. Vertical Research assumed coverage on Otis Worldwide in a report on Monday, April 6th. They issued a buy rating and a $53.00 price objective for the company. William Blair assumed coverage on Otis Worldwide in a research note on Friday, May 8th. They issued a market perform rating for the company. Finally, Atlantic Securities assumed coverage on Otis Worldwide in a research note on Tuesday, April 14th. They issued an overweight rating for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $58.63.
Otis Worldwide (NASDAQ:OTIS) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.12. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.92 billion. The firm’s quarterly revenue was down 9.6% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.80 annualized dividend and a yield of 1.28%. Otis Worldwide’s dividend payout ratio (DPR) is currently 41.67%.
In other Otis Worldwide news, insider Montlivault Stephane De sold 10,454 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $51.81, for a total transaction of $541,621.74. Following the completion of the sale, the insider now directly owns 1,403 shares in the company, valued at approximately $72,689.43. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Several hedge funds have recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Otis Worldwide in the second quarter valued at approximately $134,908,000. Sarasin & Partners LLP acquired a new position in Otis Worldwide in the second quarter valued at approximately $126,278,000. Massachusetts Financial Services Co. MA acquired a new position in Otis Worldwide in the first quarter valued at approximately $106,956,000. UBS Group AG acquired a new position in Otis Worldwide in the second quarter valued at approximately $48,688,000. Finally, Scharf Investments LLC acquired a new position in Otis Worldwide during the second quarter worth $41,137,000.
About Otis Worldwide
There is no company description available for Otis Worldwide Corp.
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