Purchase Of Shares In Otis Worldwide Corporation (OTIS) By GHAI RAHUL

As of Friday close, Otis Worldwide Corporation’s (NYSE:OTIS) stock was down -$0.18, moving down -0.23 percent to $79.32. The average number of shares traded per day over the past five days has been 2,135,620 shares. 3 times new highs have been achieved over the past 5 days, with a $1.15 gain in that time frame. In the last twenty days, the average volume was 2,275,770, while in the previous 50 days, it was 2,478,924.

Since last month, OTIS stock rose 13.17%. Shares of the company fell to $67.00 on 07/14/22, the lowest level in the past month. A 52-week high of $92.84 was reached on 01/03/22 after having rallying from a 52-week low of $66.97. Since the beginning of this year, OTIS’s stock price has dropped by -8.90% or -$7.75, and marked a new high 1 time. However, the stock has declined by -14.56% since its 52-week high.

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Otis Worldwide Corporation (OTIS) last reported insider trading activity 4 days ago on Aug 02. GHAI RAHUL, the EVP, CFO of the company, disposed of 5,000 shares for $77.87 on Aug 02. It resulted in a $389,354 divestment by the insider. GHAI RAHUL sold 2,618 shares at an average price of $78.55 on Aug 01. The insider now owns 7,063 shares following the transaction. On Jul 29, EVP, General Counsel LaFreniere Nora E. sold 13,576 shares at $76.54 apiece. The transaction was valued at $1,039,126.

Valuation Metrics

The latest dividend of $0.29 per share was paid out, remained unchanged from last year’s $0.29. On Friday April 22 2022, a $0.05 dividend increase was announced.

Financial Health

In the three months ended June 29, Otis Worldwide Corporation’s quick ratio stood at 0.90, while its current ratio was 1.00, showing that the company is not able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 29.00% percent. In the year ended June 29, operating margins totaled 14.60%. Based on annual data, OTIS earned $4.19 billion in gross profit and brought in $14.3 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 43.00%. Return on equity (ROE) for the past 12 months was -28.40%.

In Otis Worldwide Corporation’s quarter-end financial report for June 29, it reported total debt of $6.6 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. OTIS’s revenue fell -6.11% to $3.41 billion during the quarter, while net income inched up to $3.49 billion. While analysts expected Otis Worldwide Corporation to report $0.78 quarterly earnings, the actual figure was $0.86 per share, beating the consensus estimate by 10.30%. During the quarter, the company generated $536.0 million in EBITDA. The liabilities of Otis Worldwide Corporation were 14.8 billion at the end of its most recent quarter ended June 29, and its total debt was $7.04 billion. The value of shareholders’ equity is $420.23 million.

Technical Picture

This quick technical analysis looks at Otis Worldwide Corporation’s (OTIS) price momentum. With a historical volatility rate of 25.34%, the RSI 9-day stood at 77.27% on 05 August.

With respect to its five-day moving average, the current Otis Worldwide Corporation price is up by +1.47% percent or $1.15. At present, OTIS shares trade +13.49% above its 20-day simple moving average and +10.20% percent above its 100-day simple moving average. However, the stock is currently trading approximately +5.07% above its SMA50 and -6.04% below its SMA200.

Stochastic coefficient K was 96.00% and Stochastic coefficient D was 93.76%, while ATR was 1.68. Given the Stochastic reading of 95.13% for the 14-day period, the RSI (14) reading has been calculated as 71.51%. As of today, the MACD Oscillator reading stands at 1.80, while the 14-day reading stands at 3.66.

Analyst Ratings

Otis Worldwide Corporation downgraded its rating on Otis Worldwide Corporation (NYSE: OTIS) to a Neutral in a note to investors on July 07, 2022. The analysts firm previously had an Overweight rating on the stock.Otis Worldwide Corporation (OTIS) has been rated Overweight by analysts. According to 1 brokerage firm, OTIS is a sell, and 8 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate Otis Worldwide Corporation stock as buy, with 6 recommending it as overweight.

With a median target price of $80.00, the current consensus forecast for the stock is $65.00 – $90.00. Based on these forecasts, analysts predict Otis Worldwide Corporation (OTIS) will achieve an average price target of $79.69.


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