Otis Worldwide Corporation (NYSE:OTIS – Get Free Report)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $68.95 and last traded at $68.7920, with a volume of 656590 shares trading hands. The stock had previously closed at $70.06.
Analyst Upgrades and Downgrades
A number of research analysts have commented on OTIS shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Evercore reissued an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a research report on Thursday, July 23rd. Morgan Stanley set a $75.00 price target on shares of Otis Worldwide in a research note on Monday, August 10th. Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a research note on Tuesday, July 28th. Finally, Sanford C. Bernstein decreased their target price on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.91.
Read Our Latest Analysis on OTIS
Otis Worldwide Stock Performance
Otis Worldwide (NYSE:OTIS – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. Otis Worldwide’s revenue for the quarter was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, sell-side analysts forecast that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.
Otis Worldwide Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. Otis Worldwide’s dividend payout ratio (DPR) is 45.24%.
Hedge Funds Weigh In On Otis Worldwide
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Garton & Associates Financial Advisors LLC bought a new stake in Otis Worldwide in the 4th quarter valued at about $27,000. Orion Capital Management LLC purchased a new position in Otis Worldwide during the 2nd quarter worth $27,000. Reflection Asset Management purchased a new position in Otis Worldwide during the fourth quarter worth about $34,000. MidFirst Bank bought a new position in shares of Otis Worldwide in the fourth quarter valued at approximately $35,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Otis Worldwide during the 2nd quarter valued at $28,000. 88.03% of the stock is owned by institutional investors and hedge funds.
About Otis Worldwide
Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.
In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.
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