why Otis Worldwide Corporation [OTIS] is a Good Choice for Investors After New Price Target of $94.10


Otis Worldwide Corporation [NYSE: OTIS] closed the trading session at $86.95 on 01/12/22. The day’s price range saw the stock hit a low of $86.13, while the highest price level was $87.34. The company report on January 12, 2022 that Otis 2022 Investor Day to be Hosted Virtually.

Otis Worldwide Corporation (NYSE: OTIS) will now deliver its 2022 Investor Day as a live virtual webcast on Tuesday, February 15, 2022. Otis President & CEO Judy Marks and members of the leadership team will discuss the company’s strategic initiatives and multi-year financial outlook.

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The meeting will be held from 9:00 to 11:00 a.m. EST and will be broadcast live at www.otis.com. The corresponding presentation will be available on the site prior to the meeting.

The stocks have a year to date performance of -0.14 percent and weekly performance of 3.72 percent. The stock has been moved at 2.02 percent over the last six months. The stock has performed 1.84 percent around the most recent 30 days and changed 6.98 percent over the most recent 3-months.

If compared to the average trading volume of 2.06M shares, OTIS reached to a volume of 2839874 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $94.10 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.

Wells Fargo have made an estimate for Otis Worldwide Corporation shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on October 08, 2021. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Outperform. The new note on the price target was released on July 07, 2021, representing the official price target for Otis Worldwide Corporation stock. Previously, the target price had yet another raise to $65, while HSBC Securities analysts kept a Hold rating on OTIS stock.

The Average True Range (ATR) for Otis Worldwide Corporation is set at 1.75, with the Price to Sales ratio for OTIS stock in the period of the last 12 months amounting to 2.61. Price to Free Cash Flow for OTIS in the course of the last twelve months was 30.45 with Quick ratio for the last quarter at 0.90.

OTIS stock trade performance evaluation

Otis Worldwide Corporation [OTIS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.72. With this latest performance, OTIS shares gained by 1.84% in over the last four-week period, additionally plugging by 2.02% over the last 6 months – not to mention a rise of 35.92% 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 57.29, with the RSI for the last a single of trading hit 60.21, and the three-weeks RSI is set at 55.61 for Otis Worldwide Corporation [OTIS]. The present Moving Average for the last 50 days of trading for this stock 84.43, while it was recorded at 85.38 for the last single week of trading, and 82.92 for the last 200 days.

Otis Worldwide Corporation [OTIS]: An insightful look at the core 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 per share (EPS) analysis for Otis Worldwide Corporation [OTIS] stock

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 11.98%.

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Otis Worldwide Corporation [OTIS]: Insider Ownership positions

There are presently around $30,590 million, or 85.90% of OTIS stock, in the hands of institutional investors. The top three institutional holders of OTIS stocks are: VANGUARD GROUP INC with ownership of 38,440,672, which is approximately 2.014% of the company’s market cap and around 0.05% of the total institutional ownership; BLACKROCK INC., holding 36,709,140 shares of the stock with an approximate value of $3.19 billion in OTIS stocks shares; and STATE STREET CORP, currently with $1.45 billion in OTIS stock with ownership of nearly 3.943% of the company’s market capitalization.

Positions in Otis Worldwide Corporation stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 472 institutional holders increased their position in Otis Worldwide Corporation [NYSE:OTIS] by around 21,033,267 shares. Additionally, 518 investors decreased positions by around 20,985,554 shares, while 221 investors held positions by with 309,791,782 shares. The mentioned changes placed institutional holdings at 351,810,603 shares, according to the latest SEC report filing. OTIS stock had 90 new institutional investments in for a total of 4,417,104 shares, while 81 institutional investors sold positions of 5,323,658 shares during the same period.