Brokerages Set Otis Worldwide Co. (NYSE:OTIS) PT at $97.71

Shares of Otis Worldwide Co. (NYSE:OTISGet Free Report) have been assigned a consensus rating of “Hold” from the eight analysts that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $97.71.

Several research analysts recently weighed in on the company. UBS Group increased their price objective on Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Argus raised their price target on Otis Worldwide from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Melius assumed coverage on Otis Worldwide in a research report on Tuesday, April 2nd. They set a “hold” rating for the company. Barclays raised their price target on Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, Wells Fargo & Company lowered their price target on Otis Worldwide from $102.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th.

Read Our Latest Research Report on Otis Worldwide

Insider Buying and Selling at Otis Worldwide

In other news, EVP Peiming Zheng sold 30,364 shares of Otis Worldwide stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.69, for a total transaction of $2,844,803.16. Following the sale, the executive vice president now owns 15,570 shares in the company, valued at $1,458,753.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by insiders.

Institutional Investors Weigh In On Otis Worldwide

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Otis Worldwide during the 4th quarter valued at approximately $628,855,000. Vanguard Group Inc. lifted its position in shares of Otis Worldwide by 14.8% during the 4th quarter. Vanguard Group Inc. now owns 45,773,358 shares of the company’s stock valued at $4,095,342,000 after acquiring an additional 5,913,933 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Otis Worldwide by 47.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,540,422 shares of the company’s stock valued at $605,571,000 after acquiring an additional 2,442,203 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Otis Worldwide by 104.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,555,300 shares of the company’s stock valued at $124,906,000 after acquiring an additional 794,626 shares during the period. Finally, Qube Research & Technologies Ltd lifted its position in shares of Otis Worldwide by 119.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 981,574 shares of the company’s stock valued at $78,830,000 after acquiring an additional 533,590 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Trading Down 0.0 %

NYSE OTIS opened at $97.44 on Friday. The stock has a market capitalization of $39.40 billion, a price-to-earnings ratio of 28.16 and a beta of 1.04. Otis Worldwide has a twelve month low of $73.32 and a twelve month high of $100.84. The stock has a 50-day moving average of $96.26 and a 200 day moving average of $93.12.

Otis Worldwide (NYSE:OTISGet Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. The business had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.44 billion. Equities analysts predict that Otis Worldwide will post 3.88 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were paid a $0.39 dividend. The ex-dividend date was Thursday, May 16th. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a yield of 1.60%. Otis Worldwide’s dividend payout ratio (DPR) is currently 45.09%.

Otis Worldwide Company Profile

(Get Free Report

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.

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Analyst Recommendations for Otis Worldwide (NYSE:OTIS)

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