Otis Worldwide (NYSE:OTIS) Coverage Initiated by Analysts at Melius

Melius assumed coverage on shares of Otis Worldwide (NYSE:OTISFree Report) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage issued a hold rating on the stock.

Several other equities analysts have also recently weighed in on the company. Vertical Research cut Otis Worldwide from a buy rating to a hold rating in a report on Tuesday, January 2nd. UBS Group raised their target price on Otis Worldwide from $87.00 to $95.00 and gave the stock a neutral rating in a report on Friday, February 16th. Wells Fargo & Company decreased their target price on Otis Worldwide from $97.00 to $95.00 and set an equal weight rating on the stock in a report on Thursday, February 1st. Argus raised Otis Worldwide from a hold rating to a buy rating and set a $102.00 target price on the stock in a report on Thursday, February 22nd. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $100.00 target price on shares of Otis Worldwide in a report on Monday, February 5th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $94.29.

Get Our Latest Stock Report on OTIS

Otis Worldwide Trading Down 0.8 %

OTIS stock opened at $97.75 on Tuesday. The stock has a market capitalization of $39.63 billion, a PE ratio of 28.83 and a beta of 1.01. Otis Worldwide has a 12-month low of $73.32 and a 12-month high of $100.35. The stock’s 50 day simple moving average is $94.33 and its 200 day simple moving average is $87.47.

Otis Worldwide (NYSE:OTISGet Free Report) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Otis Worldwide had a negative return on equity of 30.75% and a net margin of 9.90%. During the same period in the prior year, the firm earned $0.75 EPS. On average, research analysts predict that Otis Worldwide will post 3.87 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 16th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.39%. Otis Worldwide’s payout ratio is 40.12%.

Insider Activity

In related news, CEO Judith Fran Marks sold 37,312 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $91.83, for a total value of $3,426,360.96. Following the completion of the transaction, the chief executive officer now owns 192,319 shares of the company’s stock, valued at approximately $17,660,653.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value of $1,675,602.30. Following the completion of the sale, the insider now owns 67,274 shares of the company’s stock, valued at $6,128,661.40. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 completion of the sale, the chief executive officer now directly owns 192,319 shares of the company’s stock, valued at approximately $17,660,653.77. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

Institutional Trading of Otis Worldwide

Several institutional investors have recently added to or reduced their stakes in the company. Cetera Trust Company N.A bought a new stake in shares of Otis Worldwide during the fourth quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Otis Worldwide during the fourth quarter valued at approximately $28,000. Orion Capital Management LLC bought a new stake in shares of Otis Worldwide during the third quarter valued at approximately $30,000. Janiczek Wealth Management LLC raised its stake in shares of Otis Worldwide by 141.1% during the third quarter. Janiczek Wealth Management LLC now owns 381 shares of the company’s stock valued at $31,000 after acquiring an additional 223 shares in the last quarter. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Otis Worldwide during the fourth quarter valued at approximately $35,000. Institutional investors own 88.03% of the company’s stock.

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.

Further Reading

Analyst Recommendations for Otis Worldwide (NYSE:OTIS)

Receive News & Ratings for Otis Worldwide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otis Worldwide and related companies with MarketBeat.com's FREE daily email newsletter.