Market Analysts see Otis Worldwide Corporation [OTIS] gaining to $95. Time to buy?

Otis Worldwide Corporation [NYSE: OTIS] traded at a high on 07/29/21, posting a 1.07 gain after which it closed the day’ session at $88.87. The company report on July 30, 2021 that Otis Declares Quarterly Dividend of $0.24 per Share.

The Otis Worldwide Corporation (NYSE: OTIS) Board of Directors declared a quarterly dividend of $0.24 per share of Otis’ common stock. The dividend will be payable on September 10, 2021, to shareholders of record at the close of business on August 20, 2021.

About Otis.

The results of the trading session contributed to over 2004624 shares changing hands. Over the past one week, the price volatility of Otis Worldwide Corporation stands at 1.92% while the volatility over the past one month is 1.53%.

The market cap for OTIS stock reached $37.62 billion, with 431.60 million shares outstanding and 428.99 million shares in the current float. Compared to the average trading volume of 2.31M shares, OTIS reached a trading volume of 2004624 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $83.25 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 2.20. 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.

RBC Capital Mkts have made an estimate for Otis Worldwide Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 07, 2021. The new note on the price target was released on March 29, 2021, representing the official price target for Otis Worldwide Corporation stock. Previously, the target price had yet another raise to $85, while Berenberg analysts kept a Buy rating on OTIS stock.

The Average True Range (ATR) for Otis Worldwide Corporation is set at 1.34, with the Price to Sales ratio for OTIS stock in the period of the last 12 months amounting to 2.85. Price to Free Cash Flow for OTIS in the course of the last twelve months was 25.81 with Quick ratio for the last quarter at 0.90.

How has OTIS stock performed recently?

Otis Worldwide Corporation [OTIS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.76. With this latest performance, OTIS shares gained by 8.27% in over the last four-week period, additionally plugging by 39.23% over the last 6 months – not to mention a rise of 38.21% in the past year of trading.

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 72.02, with the RSI for the last a single of trading hit 72.90, and the three-weeks RSI is set at 70.88 for Otis Worldwide Corporation [OTIS]. The present Moving Average for the last 50 days of trading for this stock 82.04, while it was recorded at 88.52 for the last single week of trading, and 70.90 for the last 200 days.

Otis Worldwide Corporation [OTIS]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Otis Worldwide Corporation [OTIS] shares currently have an operating margin of +14.97 and a Gross Margin at +29.77. Otis Worldwide Corporation’s Net Margin is presently recorded at +7.10.

Return on Total Capital for OTIS is now 61.76, given the latest momentum, and Return on Invested Capital for the company is 46.66. Additionally, OTIS Total Debt to Total Capital is recorded at 243.79, with Total Debt to Total Assets ending up at 60.66.

Reflecting on the efficiency of the workforce at the company, Otis Worldwide Corporation [OTIS] managed to generate an average of $13,130 per employee. Receivables Turnover for the company is 3.65 with a Total Asset Turnover recorded at a value of 1.25.Otis Worldwide Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.00.

Earnings analysis for Otis Worldwide Corporation [OTIS]

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 11.02%.

Insider trade positions for Otis Worldwide Corporation [OTIS]

There are presently around $33,025 million, or 88.70% of OTIS stock, in the hands of institutional investors. The top three institutional holders of OTIS stocks are: VANGUARD GROUP INC with ownership of 37,824,096, which is approximately 0.982% of the company’s market cap and around 0.04% of the total institutional ownership; BLACKROCK INC., holding 34,379,844 shares of the stock with an approximate value of $3.06 billion in OTIS stocks shares; and STATE STREET CORP, currently with $2.36 billion in OTIS stock with ownership of nearly -20.913% 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 July and at the time of the July reporting period, where 411 institutional holders increased their position in Otis Worldwide Corporation [NYSE:OTIS] by around 34,843,079 shares. Additionally, 627 investors decreased positions by around 38,466,162 shares, while 198 investors held positions by with 298,295,887 shares. The mentioned changes placed institutional holdings at 371,605,128 shares, according to the latest SEC report filing. OTIS stock had 89 new institutional investments in for a total of 3,636,777 shares, while 108 institutional investors sold positions of 3,975,649 shares during the same period.

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