How can Otis help with elevator problems?
In addition, Otis's technicians are being armed with productivity tools such as mobile devices with applications, so its technicians can immediately identify the issue with the elevator and start to order repair parts for it through the app.
Where does Otis stock rank among US stocks?
Quality is the dimension where OTIS ranks best; there it ranks ahead of 94.07% of US stocks. OTIS's strongest trending metric is Quality; it's been moving up over the last 163 days. OTIS ranks lowest in Momentum; there it ranks in the 29th percentile.
Is Otis on the bottom line?
In common with many other industrial companies, Otis sees a bottom forming in the second quarter with a gradual recovery to come as Europe and the U.S. follow China in opening up the economy. Is Otis a buy? On the plus side, management affirmed during the earnings call that the new equipment market was recovering in China in the second quarter.
Who is the CEO of Otis Inc?
Marks will also continue in her current role as President and Chief Executive Officer of Otis, a role she has held since June 2019. She will succeed Chris Kearney who has served as Executive Chair since Otis became an independent, publicly traded company in Ap
Is OTIS Elevator a good stock to buy?
OTIS' solid performance is a testament to this fact. Shares of this leading elevator and escalator manufacturer have gained 12.3% over the past year against the industry's 10.6% decline. Despite inflationary pressures, the company delivered 8.9% organic growth in 2021 and registered 19.4% growth in adjusted EPS.
Is Otis worldwide stock a buy?
Otis Worldwide Corporation - Hold Its Value Score of B indicates it would be a good pick for value investors. The financial health and growth prospects of OTIS, demonstrate its potential to outperform the market. It currently has a Growth Score of A.
What sector is Otis worldwide?
Transport systemsOtis WorldwideFormer North American Headquarters in Farmington, Connecticut.Traded asNYSE: OTIS S&P 500 componentIndustryTransport systemsPredecessorUnited TechnologiesFounded20 September 1853 (acquired in 1976, spun off in 2020)12 more rows
Is OTIS a public company?
FARMINGTON, Conn., April 3, 2020 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) will begin its first day of "regular-way" common stock trading on the New York Stock Exchange (NYSE) today at market open after successfully completing its separation from United Technologies (NYSE: UTX).
Will OTIS worldwide pay a dividend?
OTIS pays a dividend of $0.29 per share. OTIS's annual dividend yield is 1.45%. When is Otis Worldwide ex-dividend date? Otis Worldwide's previous ex-dividend date was on May 18, 2022.
Is AbbVie still a good buy?
Investor Takeaway AbbVie not only pays a safe and reliable dividend, but they pay a growing dividend, one that has grown an average of 18% per year over the past five years. Humira is expected to lose U.S. patent protection in 2023, and AbbVie will see negative growth due to it before returning to growth in 2024.
Is Otis a Fortune 500 company?
Farmington-based Otis ranked No. 236 on the 2021 Fortune 500 list.
What percentage of elevators are Otis?
Otis took a percentage point of market share in new equipment, which now stands at around 18%, and it services 2.1 million elevators of the 19 million globally, for a market share of more than 10%.
What company owns Otis elevator?
In 1975, the Otis Elevator Company became a subsidiary of United Technologies Corporation (UTC). In 2015, Otis Elevator remained a part of UTC, and was known as the world leader in the elevators, escalators, and moving walkways.
Is Otis part of United Technologies?
On April 3, 2020, United Technologies Corp, renamed as Raytheon Technologies (NYSE: RTX, $49.93, Market Capitalization: $75.7 billion) completed the tax-free spin-off of Otis Worldwide Corp (NYSE: OTIS, $47.32, Market Capitalization $20.5 billion) and Carrier Global Corp (NYSE: CARR, $16.92, Market Capitalization $14.7 ...
Is Otis elevator owned by UTC?
UTC Merges With Raytheon, Completes Spin-Offs of Carrier and Otis | 2020-04-06 | SDM Magazine.
Is Otis Elevator a monopoly?
The entire narrative describing Elisha Otis as the founder of the modern elevator was constructed by his sons in 1911, who used the story to establish one of the largest monopolies in history.
Should I buy or sell Otis Worldwide stock right now?
8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Otis Worldwide in the last twelve months. There are currently 2 sell ratin...
What is Otis Worldwide's stock price forecast for 2022?
8 Wall Street analysts have issued 1 year target prices for Otis Worldwide's shares. Their forecasts range from $72.00 to $95.00. On average, they...
How has Otis Worldwide's stock price performed in 2022?
Otis Worldwide's stock was trading at $87.07 at the start of the year. Since then, OTIS stock has decreased by 15.8% and is now trading at $73.29....
When is Otis Worldwide's next earnings date?
Otis Worldwide is scheduled to release its next quarterly earnings announcement on Monday, July 25th 2022. View our earnings forecast for Otis Wor...
How were Otis Worldwide's earnings last quarter?
Otis Worldwide Co. (NYSE:OTIS) released its quarterly earnings data on Monday, April, 25th. The company reported $0.77 earnings per share for the q...
How often does Otis Worldwide pay dividends? What is the dividend yield for Otis Worldwide?
Otis Worldwide declared a quarterly dividend on Friday, April 22nd. Shareholders of record on Friday, May 20th will be paid a dividend of $0.29 per...
Is Otis Worldwide a good dividend stock?
Otis Worldwide(NYSE:OTIS) pays an annual dividend of $1.16 per share and currently has a dividend yield of 1.58%. Otis Worldwide has been increasin...
What guidance has Otis Worldwide issued on next quarter's earnings?
Otis Worldwide updated its FY22 earnings guidance on Monday, April, 25th. The company provided EPS guidance of $3.22-3.27 for the period, compared...
Who are Otis Worldwide's key executives?
Otis Worldwide's management team includes the following people: Ms. Judith F. Marks , Chair, Pres & CEO (Age 58, Pay $5.22M) ( LinkedIn Profile...
How much does OTIs make?
Otis Worldwide has a market capitalization of $36.42 billion and generates $12.76 billion in revenue each year. The company earns $906 million in net income (profit) each year or $2.52 on an earnings per share basis.
What is the dividend for OTIs Worldwide?
What is the dividend yield for Otis Worldwide? Otis Worldwide declared a quarterly dividend on Monday, April 19th. Shareholders of record on Friday, May 21st will be given a dividend of $0.24 per share on Thursday, June 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.13%.
What is OTIs elevator?
Otis Worldwide Corp. (NYSE: OTIS), the company that helped make the vertical city possible and transformed how we live and work, today announced a new generation of digitally native elevators – created to give people freedom to connect and thrive in a taller, faster, smarter world. Otis is introducing the Otis Gen3™ and Gen360™ digital elevator platforms during Welcome to Tomorrow, a global virtual event with customers, colleagues and many industry stakeholders from more than 100 countries parti
Who is the CEO of Otis?
In his Executive Decision segment of "Mad Money" Monday, Jim Cramer spoke with Judy Marks , president and CEO of Otis Worldwide , the elevator maker. Otis just reported a second-quarter earnings beat that included a 15.4% rise in organic sales growth.
What is OTIs ESG?
Otis Worldwide Corp. (NYSE: OTIS), the world's leading company for elevator and escalator manufacturing, installation and service, today unveiled additional global Environmental, Social and Governance (ESG) goals. Building on previous ESG commitments announced in the company's 2020 Annual Report, the comprehensive set of 13 targets aligns with the U.N. Sustainable Development Goals and across all four of the company's ESG commitments: Health & Safety, Environment & Impact, People & Communities, and Governance & Accountability.
NYSE: OTIS
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The leading elevator company is firing on all cylinders right now
The case for buying stock in elevator and escalator company Otis Worldwide ( OTIS 2.54% ) was undoubtedly strengthened following an excellent set of second-quarter earnings. Still, was it enough to make the stock a buy? To help answer that question, here's a look at the key factors behind the investment case for buying the stock.
The case for buying Otis stock
The three highly interconnected reasons are all based on the fact that Otis is ostensibly focused on its service business. While its equipment business (elevators and escalators) is higher-profile, servicing the installed equipment makes more money.
NYSE: OTIS
To grow service revenue, Otis aims to grow new-equipment market share in China, the biggest elevator/escalator market globally.
1. It's winning market share
On a worldwide basis, Otis grew organic sales by 15.4% in the second quarter, with new equipment sales up a whopping 25.4% and service sales up 7.8%. The company came up with some relatively easy year-over-year comparisons in the second quarter (the same period in 2020 is when the lockdowns initially hit the global economy).
2. It's improving service revenue down the line
Wining new-equipment market share is one of the keys to growing the number of units under maintenance and ultimately expanding its service revenue. Indeed, Otis grew its maintenance business by an impressive 3% in the second quarter.
3. Digital initiatives
During the earnings call, Marks declared that Otis was all-in on IoT-enabled technology. In a nutshell, the idea is that its Otis One IoT platform will continuously gather real-time data from elevators to generate insights to improve performance. In addition, Marks said that Otis would roll out 100,000 IoT-enabled units in 2021.
What is the strongest trending metric for OTIs?
OTIS's strongest trending metric is Momentum; it's been moving down over the last 121 days. OTIS ranks lowest in Momentum; there it ranks in the 33rd percentile.
Where is the company elisha graves otis located?
The Service segment offers maintenance and repair services; and modernization services to upgrade elevators and escalators. The company was founded by Elisha Graves Otis in 1853 and is headquartered in Farmington, CT.
Which country is the key to elevators?
China is the key. Not only is China the key country in the elevator market right now, but it's also the growth engine for the future, particularly in terms of service demand. Otis generates 57% of its sales from service and the rest from new equipment.
How much of KONE sales is China?
For an idea of how important China is, consider that it contributes roughly 30% of KONE's overall sales, with the next country, the U.S., a distant second around 15%. In fact, China contributes 63% of the global new equipment market at present.
When was OTIs first listed?
Summary. Founding the commercial elevator in 1852, OTIS has been the world’s uninterrupted industry leader. OTIS originally listed on the NYSE in April 1920 but was acquired in 1976 by United Technologies. Exactly one century after original listing, this month’s spin-off reintroduces OTIS to investors.
How do elevator sensors work?
What are these technologies? In short, connected elevator sensors connect the elevator to inform both the technician and the client. Ideally, elevator companies can more efficiently schedule maintenance pro-actively as sensors detect signs of wear before an issue. This improves elevator uptime, eliminates vague calls from clients which can be frustrating on both sides, improves route costs (less distance per unit is incurred in a route of scheduled maintenance visits), improves hourly wage cost on-site (issue is identified beforehand). Both issues can be resolved, and add-on subscriptions can be sold and activated remotely with software updates, not unlike Tesla’s approach. In fact, the Big Four are lobbying the Chinese government for a pilot run to prove that many issues can be resolved remotely. The end result should be more modern regulations lowering the mandatory visit counts per year.
Is the elevator industry profitable?
Elevator industry is stable and profitable thanks to switching costs, agents, cost moats, long-standing brands, the razer-blade model and consideration for safety. The Big Four elevator companies will gain share in the profitable aftermarket, thanks to the internet of things. Otis should be the biggest benefactor as the most profitable leader.
The Case For Buying Otis Stock
It's Winning Market Share
- On a worldwide basis, Otis grew organic sales by 15.4% in the second quarter, with new equipment sales up a whopping 25.4% and service sales up 7.8%. The company came up with some relatively easy year-over-year comparisons in the second quarter (the same period in 2020 is when the lockdowns initially hit the global economy). Still, management is expecting full-year …
It's Improving Service Revenue Down The Line
- Wining new-equipment market share is one of the keys to growing the number of units under maintenance and ultimately expanding its service revenue. Indeed, Otis grew its maintenance business by an impressive 3% in the second quarter. It might not sound like a huge figure, but if the digital initiatives take off and management pushes through planned price increases, it could …
Digital Initiatives
- During the earnings call, Marks declared that Otis was all-in on IoT-enabled technology. In a nutshell, the idea is that its Otis One IoT platform will continuously gather real-time data from elevators to generate insights to improve performance. In addition, Marks said that Otis would roll out 100,000 IoT-enabled units in 2021. It's still the relatively early days, but Otis' digital initiatives …
A Stock to Buy?
- Otis' performance has been better than expected in 2021, and Marks said she would release a revised midterm outlook on all the metrics in early 2022. Don't be surprised if it's an upgrade. Moreover, the long-term growth prospects from digital initiatives, expanding units under maintenance, and growing market share are on track. Trading at 28 times ...