Otis Worldwide (OTIS) Gets a Hold from Wells Fargo

Wells Fargo analyst Joe O’Dea maintained a Hold rating on Otis Worldwide (OTIS – Research Report) today and set a price target of $102.00. The company’s shares closed last Friday at $97.77.

O’Dea covers the Industrials sector, focusing on stocks such as Johnson Controls, Acuity Brands, and Eaton. According to TipRanks, O’Dea has an average return of 10.3% and a 60.10% success rate on recommended stocks.

Currently, the analyst consensus on Otis Worldwide is a Moderate Buy with an average price target of $101.33, representing a 3.64% upside. In a report released on April 2, Barclays also maintained a Hold rating on the stock with a $90.00 price target.

Based on Otis Worldwide’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.62 billion and a net profit of $323 million. In comparison, last year the company earned a revenue of $3.44 billion and had a net profit of $297 million

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of OTIS in relation to earlier this year.

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Otis Worldwide (OTIS) Company Description:

Otis Worldwide Corporation engages in designing, manufacturing, selling and installations of passenger and freight elevators, escalators and moving walkways for infrastructure projects, and residential and commercial buildings. It also provides maintenance and repair services, as well as modernization services for elevators and escalators.