1,417 institutions hold shares in Otis Worldwide Corporation (OTIS), with 56.38k shares held by insiders accounting for 0.01% while institutional investors hold 85.63% of the company’s shares. The shares outstanding are 433.50M, and float is at 433.41M with Short Float at 1.40%. Institutions hold 85.61% of the Float.
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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 38.0 million shares valued at $2.37 billion. The investor’s holdings represent 8.76% of the OTIS Shares outstanding. As of Sep 29, 2020, the second largest holder is State Street Corporation with 34.99 million shares valued at $2.18 billion to account for 8.07% of the shares outstanding. The other top investors are Blackrock Inc. which holds 32.23 million shares representing 7.43% and valued at over $2.18 billion, while Massachusetts Financial Services Co. holds 2.70% of the shares totaling 11.73 million with a market value of $732.14 million.
Otis Worldwide Corporation (NYSE: OTIS) is -6.40% lower on its value in year-to-date trading and has touched a low of $38.00 and a high of $68.21 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The OTIS stock was last observed hovering at around $63.23 in the last trading session, with the day’s loss setting it 0.0% off its average median price target of $75.00 for the next 12 months. It is also 21.94% off the consensus price target high of $81.00 offered by 11 analysts, but current levels are -1.98% lower than the price target low of $62.00 for the same period.
Currently trading at $63.23, the stock is -0.81% and -2.37% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.57 million and changing 0.00% at the moment leaves the stock 2.56% off its SMA200. OTIS registered a gain of -0.63% in past 6-months. The firm has a 50-day simple moving average (SMA 50) of $64.47 and a 200-day simple moving average (SMA200) of $64.11.
The stock witnessed a -2.54% loss in the last 1 month and extending the period to 3 months gives it a -4.43%, and is 0.06% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.48% over the week and 2.77% over the month.
Otis Worldwide Corporation (OTIS) has around 69000 employees, a market worth around $27.43B and $12.76B in sales. Current P/E ratio is 30.34 and Fwd P/E is 21.07. Profit margin for the company is 7.10%. Distance from 52-week low is 66.39% and -7.30% from its 52-week high. The company has generated returns on investments over the last 12 months (55.60%).
Otis Worldwide Corporation (OTIS) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Otis Worldwide Corporation (OTIS) is a “Overweight”. 11 analysts offering their recommendations for the stock have an average rating of 2.30, where 4 rate it as a Hold and 1 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Otis Worldwide Corporation is expected to release its quarterly report on 05/13/2021 and quarterly earnings per share for the current quarter are estimated at $0.62 with sales reaching $3.14B over the same period.The EPS is expected to shrink by -13.90% this year, but quarterly earnings will post 6.20% year-over-year. Quarterly sales are estimated to grow 6.00% in year-over-year returns.
Otis Worldwide Corporation (OTIS) Insider Activity
A total of 54 insider transactions have happened at Otis Worldwide Corporation (OTIS) in the last six months, with sales accounting for 27 and purchases happening 27 times. The most recent transaction is an insider sale by Stewart Shelley JR, the company’s Director. SEC filings show that Stewart Shelley JR sold 1,971 shares of the company’s common stock on Feb 08 at a price of $63.73 per share for a total of $0.13 million. Following the sale, the insider now owns 0.0 shares.
Otis Worldwide Corporation disclosed in a document filed with the SEC on Feb 05 that LaFreniere Nora E. (EVP, Chief GC & Corp. Sec.) sold a total of 754 shares of the company’s common stock. The trade occurred on Feb 05 and was made at $63.93 per share for $48203.0. Following the transaction, the insider now directly holds 0.0 shares of the OTIS stock.
Still, SEC filings show that on Feb 05, Ryan Michael Patrick (VP, CAO & Controller) disposed off 463 shares at an average price of $63.93 for $29600.0. The insider now directly holds 0 shares of Otis Worldwide Corporation (OTIS).