Otis Worldwide Co. (NASDAQ:OTIS) has been given a consensus recommendation of “Hold” by the twelve analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $65.50.
A number of equities research analysts have recently weighed in on OTIS shares. Cowen reaffirmed a “buy” rating and set a $75.00 price target on shares of Otis Worldwide in a research note on Friday, December 4th. Zacks Investment Research lowered shares of Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Wednesday, November 11th. Credit Suisse Group boosted their target price on shares of Otis Worldwide from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 27th. JPMorgan Chase & Co. increased their price target on shares of Otis Worldwide from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Finally, Wolfe Research raised shares of Otis Worldwide from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 24th.
In other news, insider Fernandez Bernardo Calleja bought 500 shares of the stock in a transaction that occurred on Wednesday, December 9th. The shares were acquired at an average cost of $65.51 per share, for a total transaction of $32,755.00. Following the purchase, the insider now owns 1,500 shares of the company’s stock, valued at approximately $98,265. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several institutional investors have recently bought and sold shares of the company. Morgan Stanley acquired a new stake in Otis Worldwide in the 1st quarter valued at approximately $3,066,000. Eastern Bank acquired a new stake in shares of Otis Worldwide during the 2nd quarter worth approximately $240,000. PNC Financial Services Group Inc. bought a new stake in shares of Otis Worldwide during the second quarter valued at approximately $57,729,000. Macquarie Group Ltd. bought a new stake in shares of Otis Worldwide during the second quarter valued at approximately $2,937,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Otis Worldwide in the second quarter valued at $337,000.
Shares of NASDAQ:OTIS traded up $0.83 during trading on Tuesday, reaching $67.55. 1,238,174 shares of the company traded hands, compared to its average volume of 3,125,690. The firm has a fifty day simple moving average of $65.89 and a 200 day simple moving average of $62.42. Otis Worldwide has a 1-year low of $38.00 and a 1-year high of $68.21. The firm has a market cap of $29.26 billion and a P/E ratio of 35.18.
Otis Worldwide (NASDAQ:OTIS) last announced its quarterly earnings data on Saturday, October 31st. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.13. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.20 billion. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year.
About Otis Worldwide
Otis Worldwide Corporation manufactures, installs, and services elevators and escalators worldwide. The company operates through 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.
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