Otis Worldwide Co. (NYSE:OTIS) Receives $95.00 Average PT from Brokerages

Otis Worldwide Co. (NYSE:OTIS) has received an average rating of “Hold” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $95.00.

OTIS has been the topic of several research analyst reports. Barclays boosted their target price on shares of Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company decreased their target price on shares of Otis Worldwide from $97.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 1st. Vertical Research lowered shares of Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada restated an “outperform” rating and set a $100.00 target price on shares of Otis Worldwide in a research report on Monday, February 5th. Finally, Melius initiated coverage on shares of Otis Worldwide in a research report on Tuesday, April 2nd. They set a “hold” rating on the stock.

Otis Worldwide Stock Performance

Shares of OTIS opened at $93.37 on Friday. The stock has a market capitalization of $37.74 billion, a P/E ratio of 27.54 and a beta of 1.01. The company’s fifty day moving average is $96.41 and its two-hundred day moving average is $89.24. Otis Worldwide has a 1 year low of $73.32 and a 1 year high of $100.35.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Otis Worldwide had a net margin of 9.90% and a negative return on equity of 30.75%. During the same period in the previous year, the company posted $0.75 EPS. Sell-side analysts predict that Otis Worldwide will post 3.87 EPS for the current year.

Otis Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 16th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.36 annualized dividend and a dividend yield of 1.46%. Otis Worldwide’s dividend payout ratio is currently 40.12%.

Insiders Place Their Bets

In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the sale, the insider now directly owns 67,274 shares of the company’s stock, valued at approximately $6,128,661.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the sale, the insider now directly owns 67,274 shares of the company’s stock, valued at approximately $6,128,661.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Judith Fran Marks sold 37,312 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total transaction of $3,426,360.96. Following the sale, the chief executive officer now directly owns 192,319 shares in the company, valued at $17,660,653.77. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OTIS. Cetera Trust Company N.A purchased a new position in shares of Otis Worldwide during the 4th quarter worth about $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Otis Worldwide during the 4th quarter worth about $28,000. Orion Capital Management LLC purchased a new position in shares of Otis Worldwide during the 3rd quarter worth about $30,000. Janiczek Wealth Management LLC lifted its holdings in shares of Otis Worldwide by 141.1% during the 3rd quarter. Janiczek Wealth Management LLC now owns 381 shares of the company’s stock worth $31,000 after acquiring an additional 223 shares during the period. Finally, NBC Securities Inc. purchased a new position in shares of Otis Worldwide during the 3rd quarter worth about $33,000. 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.