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Why Otis Worldwide Corporation (OTIS) Stock Could See Much Higher Prices Ahead

Otis Worldwide Corporation (NYSE: OTIS) is 4.85% higher on its value in year-to-date trading and has touched a low of $62.49 and a high of $86.37 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The OTIS stock was last observed hovering at around $81.35 in the last trading session, with the day’s gains setting it 0.76%.

Currently trading at $82.11, the stock is 2.04% and 3.75% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.54 million and changing 0.93% at the moment leaves the stock 10.87% off its SMA200. OTIS registered -1.20% loss for a year compared to 6-month gain of 13.43%.

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The stock witnessed a 3.90% loss in the last 1 month and extending the period to 3 months gives it a 22.94%, and is -1.05% down 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 2.40% over the week and 1.81% over the month.

Otis Worldwide Corporation (OTIS) has around 70000 employees, a market worth around $33.72B and $13.81B in sales. Current P/E ratio is 28.25 and Fwd P/E is 23.84. Profit margin for the company is 9.00%. Distance from 52-week low is 31.40% and -4.93% from its 52-week high. The company has generated returns on investments over the last 12 months (43.00%).

The EPS is expected to grow by 38.50% this year.

Otis Worldwide Corporation (OTIS) Top Institutional Holders

The shares outstanding are 418.50M, and float is at 416.36M with Short Float at 1.31%.

Otis Worldwide Corporation (OTIS) Insider Activity

A total of 21 insider transactions have happened at Otis Worldwide Corporation (OTIS) in the last six months, with sales accounting for 15 and purchases happening 6 times. The most recent transaction is an insider sale by GHAI RAHUL,the company’sEVP, CFO. SEC filings show that GHAI RAHUL sold 5,000 shares of the company’s common stock on Aug 02 at a price of $77.87 per share for a total of $0.39 million. Following the sale, the insider now owns 2063.0 shares.

Otis Worldwide Corporation disclosed in a document filed with the SEC on Aug 01 that GHAI RAHUL (EVP, CFO) sold a total of 2,618 shares of the company’s common stock. The trade occurred on Aug 01 and was made at $78.55 per share for $0.21 million. Following the transaction, the insider now directly holds 7063.0 shares of the OTIS stock.

Still, SEC filings show that on Jul 29, LaFreniere Nora E. (EVP, General Counsel) disposed off 13,576 shares at an average price of $76.54 for $1.04 million. The insider now directly holds 12,376 shares of Otis Worldwide Corporation (OTIS).

Otis Worldwide Corporation (OTIS): Who are the competitors?

Schnitzer Steel Industries Inc. (SCHN) is -11.27% down on the 1-year trading charts.

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