Otis Worldwide (OTIS) Receives a Hold from Wells Fargo

In a report released on February 19, 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 $93.04.

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According to TipRanks, O’Dea is a 5-star analyst with an average return of 12.0% and a 63.47% success rate. O’Dea covers the Industrials sector, focusing on stocks such as Dover, Honeywell International, and Parker Hannifin.

The word on The Street in general, suggests a Hold analyst consensus rating for Otis Worldwide with a $99.00 average 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, Nora E. LaFreniere, the EVP & GC of OTIS sold 27,418.00 shares for a total of $2,477,782.59.