Otis Worldwide (NYSE:OTIS) Now Covered by Analysts at UBS Group

UBS Group began coverage on shares of Otis Worldwide (NYSE:OTIS) in a research note released on Wednesday, MarketBeat Ratings reports. The firm issued a neutral rating and a $113.00 target price on the stock.

OTIS has been the subject of a number of other research reports. Barclays decreased their price target on shares of Otis Worldwide from $96.00 to $94.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Tuesday, October 8th. Wells Fargo & Company cut their target price on shares of Otis Worldwide from $108.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $110.00 price target on shares of Otis Worldwide in a research note on Thursday, September 19th. Finally, Morgan Stanley began coverage on Otis Worldwide in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price on the stock. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Otis Worldwide presently has a consensus rating of “Hold” and an average target price of $104.57.

Otis Worldwide Trading Down 0.2 %

Shares of OTIS stock opened at $99.10 on Wednesday. The firm has a fifty day simple moving average of $100.41 and a 200-day simple moving average of $97.31. The company has a market capitalization of $39.59 billion, a PE ratio of 24.71 and a beta of 1.04. Otis Worldwide has a twelve month low of $83.21 and a twelve month high of $106.33.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). Otis Worldwide had a net margin of 11.48% and a negative return on equity of 31.28%. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The business’s quarterly revenue was up .7% on a year-over-year basis. Equities research analysts predict that Otis Worldwide will post 3.85 EPS for the current year.

Otis Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 1.57%. Otis Worldwide’s payout ratio is currently 38.90%.

Insider Buying and Selling at Otis Worldwide

In other news, EVP Abbe Luersman sold 9,000 shares of Otis Worldwide stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $101.02, for a total transaction of $909,180.00. Following the sale, the executive vice president now owns 9,992 shares of the company’s stock, valued at approximately $1,009,391.84. The trade was a 47.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.23% of the stock is currently owned by company insiders.

Institutional Trading of Otis Worldwide

Several large investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC increased its holdings in shares of Otis Worldwide by 173.7% during the first quarter. First Eagle Investment Management LLC now owns 20,048 shares of the company’s stock valued at $1,990,000 after purchasing an additional 12,722 shares during the period. Appian Way Asset Management LP acquired a new position in Otis Worldwide during the 2nd quarter valued at about $991,000. Cetera Investment Advisers raised its position in shares of Otis Worldwide by 259.1% during the 1st quarter. Cetera Investment Advisers now owns 46,371 shares of the company’s stock worth $4,603,000 after buying an additional 33,457 shares in the last quarter. Natixis acquired a new stake in shares of Otis Worldwide in the 1st quarter worth approximately $3,722,000. Finally, Blair William & Co. IL boosted its holdings in shares of Otis Worldwide by 64.7% in the second quarter. Blair William & Co. IL now owns 24,544 shares of the company’s stock valued at $2,363,000 after acquiring an additional 9,643 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Company Profile

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.