4 hours Ago By Defense World Staff
Otis Worldwide ( NYSE:OTIS – Free Report ) had its target price lowered by Wells Fargo & Company from $100.00 to $95.00 in a research report sent to investors on Thursday morning, Benzinga reports.
The brokerage currently has an equal weight rating on the stock. OTIS has been the topic of a number of other reports. Wolfe Research lowered Otis Worldwide from a “peer perform” rating to an “underperform” rating and set a $104.
00 price target on the stock. in a research note on Thursday, December 12th. Barclays cut their target price on shares of Otis Worldwide from $94.
00 to $91.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. UBS Group started coverage on shares of Otis Worldwide in a research report on Wednesday, November 13th.
They issued a “neutral” rating and a $113.00 price target for the company. Finally, JPMorgan Chase & Co.
dropped their price target on shares of Otis Worldwide from $112.00 to $108.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th.
Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $102.
88. View Our Latest Analysis on OTIS Otis Worldwide Price Performance Otis Worldwide ( NYSE:OTIS – Get Free Report ) last posted its earnings results on Wednesday, January 29th. The company reported $0.
93 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.02).
Otis Worldwide had a negative return on equity of 31.57% and a net margin of 11.53%.
On average, equities research analysts anticipate that Otis Worldwide will post 4.02 EPS for the current fiscal year. Otis Worldwide announced that its Board of Directors has authorized a share buyback program on Thursday, January 16th that allows the company to buyback $2.
00 billion in shares. This buyback authorization allows the company to purchase up to 5.4% of its stock through open market purchases.
Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued. Otis Worldwide Announces Dividend The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $0.
39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.
56 annualized dividend and a yield of 1.63%. Otis Worldwide’s payout ratio is 38.
42%. Insiders Place Their Bets In other Otis Worldwide news, EVP Abbe Luersman sold 9,000 shares of the 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 transaction, the executive vice president now directly owns 9,992 shares in the company, valued at approximately $1,009,391.
84. This represents a 47.39 % decrease in their position.
The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link . Company insiders own 0.23% of the company’s stock.
Institutional Inflows and Outflows A number of institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its stake in Otis Worldwide by 6.
1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 60,427 shares of the company’s stock worth $5,817,000 after buying an additional 3,474 shares during the period.
EP Wealth Advisors LLC increased its holdings in shares of Otis Worldwide by 33.5% during the second quarter. EP Wealth Advisors LLC now owns 5,979 shares of the company’s stock valued at $576,000 after acquiring an additional 1,502 shares in the last quarter.
Sanctuary Advisors LLC acquired a new position in shares of Otis Worldwide during the second quarter worth approximately $2,073,000. Heritage Wealth Management Inc. bought a new position in shares of Otis Worldwide in the 2nd quarter worth $302,000.
Finally, Czech National Bank grew its position in Otis Worldwide by 5.9% in the 3rd quarter. Czech National Bank now owns 81,597 shares of the company’s stock valued at $8,481,000 after purchasing an additional 4,549 shares during the period.
Institutional investors and hedge funds 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. Read More Five stocks we like better than Otis Worldwide Technology Stocks Explained: Here’s What to Know About Tech ServiceNow Stock Slips, But AI Expansion Signals Long-Term Gains Do Real Estate Investment Trusts Deserve a Place in Your Portfolio? Microsoft and Meta’s AI Investment Plans Are Full Steam Ahead 3 Healthcare Dividend Stocks to Buy Beyond Self-Driving Cars: Factory Automation Takes Center Stage 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.
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