Otis Worldwide Corporation [OTIS] Stock trading around $66.11 per share: What’s Next?

Otis Worldwide Corporation [NYSE: OTIS] price surged by 1.94 percent to reach at $1.26. The company report on November 9, 2020 that Otis Names Bernardo Calleja as President, Otis EMEA.

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Otis Worldwide Corporation (NYSE: OTIS) has named Bernardo Calleja as President, Otis Europe Middle East & Africa (EMEA). Calleja will report directly to Otis President & CEO Judy Marks. Otis is the world’s leading company for elevator and escalator manufacturing, installation and service.

“Bernardo joined the company in 1989 and has an impressive track record of success at Otis, notably his ‘customer-first’ approach and unyielding commitment to safety,” said Marks. “As President, he will be laser-focused on growth; accelerating New Equipment sales, converting sales to Service and leveraging our digital tools and solutions to drive productivity and better serve our customers.”.

A sum of 2638877 shares traded at recent session while its average daily volume was at 1.95M shares. Otis Worldwide Corporation shares reached a high of $66.15 and dropped to a low of $64.68 until finishing in the latest session at $66.11.

The one-year OTIS stock forecast points to a potential upside of 3.84. The average equity rating for OTIS stock is currently 2.30, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Otis Worldwide Corporation [OTIS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OTIS shares is $68.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OTIS stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wolfe Research have made an estimate for Otis Worldwide Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 24, 2020. While these analysts kept the previous recommendation, HSBC Securities raised their target price to Reduce. The new note on the price target was released on June 29, 2020, representing the official price target for Otis Worldwide Corporation stock. Previously, the target price had yet another raise to $72, while Argus analysts kept a Buy rating on OTIS stock.

The Average True Range (ATR) for Otis Worldwide Corporation is set at 1.52, with the Price to Sales ratio for OTIS stock in the period of the last 12 months amounting to 2.28.

OTIS Stock Performance Analysis:

Otis Worldwide Corporation [OTIS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.08. With this latest performance, OTIS shares gained by 3.98% in over the last four-week period, additionally plugging by 11.99% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OTIS stock in for the last two-week period is set at 52.36, with the RSI for the last a single of trading hit 52.93, and the three-weeks RSI is set at 54.72 for Otis Worldwide Corporation [OTIS]. The present Moving Average for the last 50 days of trading for this stock 64.61, while it was recorded at 65.46 for the last single week of trading.

Insight into Otis Worldwide Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Otis Worldwide Corporation [OTIS] shares currently have an operating margin of +14.42 and a Gross Margin at +29.17. Otis Worldwide Corporation’s Net Margin is presently recorded at +8.51.

Return on Total Capital for OTIS is now 73.79, given the latest momentum, and Return on Invested Capital for the company is 61.07. Return on Equity for this stock inclined to 68.28, with Return on Assets sitting at 11.86. When it comes to the capital structure of this company, Otis Worldwide Corporation [OTIS] has a Total Debt to Total Equity ratio set at 32.94. Additionally, OTIS Total Debt to Total Capital is recorded at 24.78, with Total Debt to Total Assets ending up at 5.78. Long-Term Debt to Equity for the company is recorded at 22.71, with the Long-Term Debt to Total Capital now at 17.08.

Reflecting on the efficiency of the workforce at the company, Otis Worldwide Corporation [OTIS] managed to generate an average of $16,174 per employee. Receivables Turnover for the company is 3.88 with a Total Asset Turnover recorded at a value of 1.39.Otis Worldwide Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.10.

OTIS Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OTIS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Otis Worldwide Corporation go to 8.65%.

Otis Worldwide Corporation [OTIS] Insider Position Details

There are presently around $24,679 million, or 85.80% of OTIS stock, in the hands of institutional investors. The top three institutional holders of OTIS stocks are: VANGUARD GROUP INC with ownership of 37,995,362, which is approximately -2.641% of the company’s market cap and around 0.01% of the total institutional ownership; STATE STREET CORP, holding 34,989,320 shares of the stock with an approximate value of $2.31 billion in OTIS stocks shares; and BLACKROCK INC., currently with $2.15 billion in OTIS stock with ownership of nearly 0.962% of the company’s market capitalization.

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Positions in Otis Worldwide Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 381 institutional holders increased their position in Otis Worldwide Corporation [NYSE:OTIS] by around 31,355,617 shares. Additionally, 732 investors decreased positions by around 33,182,313 shares, while 162 investors held positions by with 308,762,203 shares. The mentioned changes placed institutional holdings at 373,300,133 shares, according to the latest SEC report filing. OTIS stock had 112 new institutional investments in for a total of 5,328,404 shares, while 153 institutional investors sold positions of 7,066,511 shares during the same period.

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