Shares of Otis Worldwide Co. (NYSE: OTIS – Get Rating) earned a consensus recommendation of “Hold” from the nine brokerages that cover the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned the company a buy rating. The 1-year average price target among brokerages that have covered the stock over the past year is $82.31.
Several research companies have recently published reports on OTIS. Barclays cut its price target on Otis Worldwide shares from $88.00 to $80.00 and set an “equal weight” rating for the company in a Tuesday, April 26 research note. Credit Suisse Group cut its price target on Otis Worldwide shares from $88.00 to $81.00 and set a “neutral” rating for the company in a Tuesday, April 26 research note. Cowen cut his price target on Otis Worldwide shares from $91.00 to $85.00 and set an “outperform” rating for the company in a Tuesday, April 26 research note. Finally, Cowen cut his price target on Otis Worldwide shares from $91.00 to $85.00 and set an “outperform” rating for the company in a Tuesday, April 26 research note.
Shares of OTIS opened at $73.44 on Friday. The company has a market capitalization of $31.05 billion, a PE ratio of 25.24 and a beta of 0.88. The company has a fifty-day simple moving average of $75.31 and a two-hundred-day simple moving average of $79.92. Otis Worldwide has a 12-month low of $71.07 and a 12-month high of $92.84.
Otis Worldwide (NYSE: OTIS – Get Rating) last reported quarterly results on Monday, April 25. The company reported EPS of $0.77 for the quarter, beating consensus analyst estimates of $0.74 by $0.03. The company posted revenue of $3.41 billion in the quarter, versus analyst estimates of $3.45 billion. Otis Worldwide had a net margin of 8.73% and a negative return on equity of 35.81%. Otis Worldwide quarterly revenue increased 0.2% year over year. In the same quarter a year earlier, the company posted EPS of $0.72. Research analysts expect Otis Worldwide to post EPS of 3.25 for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 10. Investors of record on Friday, May 20 will receive a dividend of $0.29 per share. The ex-dividend date is Thursday, May 19. This represents an annualized dividend of $1.16 and a yield of 1.58%. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.24. Otis Worldwide’s dividend payout ratio is currently 39.86%.
A number of institutional investors and hedge funds have recently bought and sold shares of OTIS. Cetera Advisor Networks LLC increased its stake in Otis Worldwide by 16.1% during the third quarter. Cetera Advisor Networks LLC now owns 17,282 shares of the company valued at $1,422,000 after purchasing 2,398 additional shares in the last quarter. Laird Norton Trust Company LLC acquired a new stake in Otis Worldwide during the fourth quarter valued at approximately $245,000. Two Sigma Advisers LP increased its stake in Otis Worldwide by 120.4% during the third quarter. Two Sigma Advisers LP now owns 596,700 shares of the company valued at $49,096,000 after purchasing an additional 326,000 shares in the last quarter. Strong Tower Advisory Services increased its stake in Otis Worldwide by 6.4% during the fourth quarter. Strong Tower Advisory Services now owns 9,929 shares of the company valued at $865,000 after purchasing an additional 600 shares in the last quarter. Finally, Toroso Investments LLC increased its stake in Otis Worldwide by 49.2% during the third quarter. Toroso Investments LLC now owns 12,960 shares of the company valued at $1,067,000 after purchasing an additional 4,272 shares in the last quarter. Institutional investors hold 83.32% of the company’s shares.
Otis Worldwide Company Profile (Get a rating)
Otis Worldwide Corporation manufactures, installs and services elevators and escalators in the United States, China and around the world. 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 walks for residential and commercial buildings and infrastructure projects.
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