Otis Worldwide (NASDAQ:OTIS) Now Covered by HSBC

HSBC initiated coverage on shares of Otis Worldwide (NASDAQ:OTIS) in a research note issued to investors on Monday morning, The Fly reports. The firm issued a reduce rating and a $44.00 target price on the stock.

Other equities research analysts have also issued research reports about the stock. Cowen reiterated a buy rating and set a $64.00 price objective on shares of Otis Worldwide in a report on Monday, June 15th. Barclays reiterated a hold rating on shares of Otis Worldwide in a report on Friday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of Otis Worldwide from $53.00 to $60.00 and gave the company an overweight rating in a report on Tuesday, May 12th. Vertical Research started coverage on shares of Otis Worldwide in a report on Monday, April 6th. They set a buy rating and a $53.00 price objective for the company. Finally, Argus started coverage on shares of Otis Worldwide in a report on Thursday, June 18th. They set a buy rating and a $72.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $57.25.

Otis Worldwide stock opened at $56.50 on Monday. The business has a 50-day moving average price of $54.73. The company has a market cap of $24.54 billion and a price-to-earnings ratio of 29.43. Otis Worldwide has a 12-month low of $38.00 and a 12-month high of $61.46.

Otis Worldwide (NASDAQ:OTIS) last released its earnings results on Wednesday, May 6th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.14. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.05 billion.

The firm also recently declared a — dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, May 21st. Otis Worldwide’s dividend payout ratio is currently 41.67%.

In other news, insider Montlivault Stephane De sold 10,454 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $51.81, for a total value of $541,621.74. Following the completion of the sale, the insider now owns 1,403 shares in the company, valued at approximately $72,689.43. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Several large investors have recently bought and sold shares of OTIS. Pacer Advisors Inc. bought a new stake in shares of Otis Worldwide in the 1st quarter valued at about $41,000. Bellevue Asset Management LLC bought a new stake in shares of Otis Worldwide in the 1st quarter valued at about $45,000. Ameritas Investment Company LLC bought a new stake in shares of Otis Worldwide in the 1st quarter valued at about $57,000. Schroder Investment Management Group purchased a new position in shares of Otis Worldwide in the 1st quarter worth approximately $69,000. Finally, M&R Capital Management Inc. purchased a new position in shares of Otis Worldwide in the 2nd quarter worth approximately $97,000.

About Otis Worldwide

There is no company description available for Otis Worldwide Corp.

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Analyst Recommendations for Otis Worldwide (NASDAQ:OTIS)

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