Otis Worldwide (OTIS) Receives a Hold from Wells Fargo

In a report released on February 5, Joe O’Dea from Wells Fargo maintained a Hold rating on Otis Worldwide, with a price target of $92.00. The company’s shares closed last Friday at $91.24.

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O’Dea covers the Industrials sector, focusing on stocks such as Dover, Honeywell International, and Parker Hannifin. According to TipRanks, O’Dea has an average return of 12.0% and a 63.04% success rate on recommended stocks.

Otis Worldwide has an analyst consensus of Hold, with a price target consensus of $99.00, which is an 8.51% upside from current levels. In a report released on January 30, J.P. Morgan also downgraded the stock to a Hold with a $98.00 price target.

Based on Otis Worldwide’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.8 billion and a net profit of $374 million. In comparison, last year the company earned a revenue of $3.68 billion and had a net profit of $337 million

Based on the recent corporate insider activity of 42 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. Earlier this month, Neil Green, the EVP & Chief Digital Officer of OTIS sold 6,000.00 shares for a total of $518,700.00.