Otis Worldwide Co. (OTIS) To Go Ex-Dividend on November 15th

Otis Worldwide Co. (NYSE:OTIS) declared a quarterly dividend on Thursday, October 31st,RTT News reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.39 per share on Friday, December 6th. This represents a $1.56 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, November 15th.

Otis Worldwide has increased its dividend by an average of 29.7% annually over the last three years. Otis Worldwide has a dividend payout ratio of 37.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Otis Worldwide to earn $4.19 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 37.2%.

Otis Worldwide Stock Performance

OTIS stock opened at $99.73 on Wednesday. The company has a market capitalization of $39.84 billion, a price-to-earnings ratio of 24.87 and a beta of 1.04. Otis Worldwide has a fifty-two week low of $81.21 and a fifty-two week high of $106.33. The stock has a fifty day moving average of $99.99 and a 200-day moving average of $97.19.

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

Wall Street Analyst Weigh In

OTIS has been the topic of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $110.00 price objective on shares of Otis Worldwide in a report on Thursday, September 19th. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Tuesday, October 8th. Morgan Stanley initiated coverage on Otis Worldwide in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective on the stock. Barclays dropped their price objective on Otis Worldwide from $96.00 to $94.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Wells Fargo & Company dropped their price objective on Otis Worldwide from $108.00 to $105.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and an average target price of $102.00.

Insider Activity at Otis Worldwide

In related news, EVP Abbe Luersman sold 9,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,009,391.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.23% of the stock is currently owned by insiders.

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.