Otis Worldwide Corp (NYSE: OTIS) is 9.57% higher on its value in year-to-date trading and has touched a low of $73.32 and a high of $100.35 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 $97.77 in the last trading session, with the day’s gains setting it 0.26%.
Currently trading at $98.03, the stock is -0.41% and 3.60% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.45 million and changing 0.27% at the moment leaves the stock 12.34% off its SMA200. OTIS registered 23.48% gain for a year compared to 6-month gain of 23.87%. The firm has a 50-day simple moving average (SMA 50) of $3.21 and a 200-day simple moving average (SMA200) of $19.19.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The stock witnessed a 1.12% loss in the last 1 month and extending the period to 3 months gives it a 12.02%, and is -0.55% 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 1.17% over the week and 1.19% over the month.
Otis Worldwide Corp (OTIS) has around 71000 employees, a market worth around $39.75B and $14.21B in sales. Current P/E ratio is 28.91 and Fwd P/E is 22.89. Profit margin for the company is 9.90%. Distance from 52-week low is 33.70% and -2.31% from its 52-week high. The company has generated returns on investments over the last 12 months (62.94%).
Otis Worldwide Corp quarterly earnings per share for the current quarter are estimated at $0.87 with sales reaching $3.46B over the same period.The EPS is expected to grow by 9.64% this year, but quarterly earnings will post 3.50% year-over-year. Quarterly sales are estimated to grow 6.40% in year-over-year returns.
Otis Worldwide Corp (OTIS) Top Institutional Holders
1,618 institutions hold shares in Otis Worldwide Corp (OTIS), with institutional investors hold 90.78% of the company’s shares. The shares outstanding are 406.60M, and float is at 404.59M with Short Float at 1.48%. Institutions hold 90.63% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 40.18 million shares valued at $3.58 billion. The investor’s holdings represent 9.76% of the OTIS Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 35.25 million shares valued at $3.14 billion to account for 8.56% of the shares outstanding. The other top investors are State Street Corporation which holds 16.04 million shares representing 3.90% and valued at over $1.43 billion, while Morgan Stanley holds 3.18% of the shares totaling 13.11 million with a market value of $1.17 billion.
Otis Worldwide Corp (OTIS) Insider Activity
The most recent transaction is an insider sale by de Montlivault Stephane,the company’sPresident, Otis Asia Pacific. SEC filings show that de Montlivault Stephane sold 18,393 shares of the company’s common stock on Feb 21 ’24 at a price of $91.10 per share for a total of $1.68 million. Following the sale, the insider now owns 67274.0 shares.
Otis Worldwide Corp disclosed in a document filed with the SEC on Feb 20 ’24 that LaFreniere Nora E. (EVP, General Counsel) sold a total of 22,106 shares of the company’s common stock. The trade occurred on Feb 20 ’24 and was made at $90.87 per share for $2.01 million. Following the transaction, the insider now directly holds 24927.0 shares of the OTIS stock.
Still, SEC filings show that on Feb 20 ’24, Ryan Michael Patrick (SVP, CAO & Controller) disposed off 3,522 shares at an average price of $90.77 for $0.32 million. The insider now directly holds 756 shares of Otis Worldwide Corp (OTIS).
