Otis Worldwide Corp (NYSE: OTIS)’s stock price has gone decline by -2.98 in comparison to its previous close of 104.02, however, the company has experienced a -2.75% decrease in its stock price over the last five trading days. seekingalpha.com reported 2024-10-02 that Entering October is the strongest period of the year for three-month returns, and shorter-term returns are also some of the best. Here we take a look at 30 dividend stocks in the S&P 500 that have been the best Q4 performers over the last ten years. 2024 has been a strong year already for high-yielding stocks, and now they have Q4 seasonality as another tailwind.
Is It Worth Investing in Otis Worldwide Corp (NYSE: OTIS) Right Now?
Otis Worldwide Corp (NYSE: OTIS) has a higher price-to-earnings ratio of 28.16x compared to its average ratio. OTIS has 36-month beta value of 0.93. Analysts have mixed views on the stock, with 4 analysts rating it as a “buy,” 2 as “overweight,” 10 as “hold,” and 0 as “sell.”
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The public float for OTIS is 400.11M, and currently, short sellers hold a 1.68% ratio of that float. The average trading volume of OTIS on October 08, 2024 was 2.27M shares.
OTIS’s Market Performance
The stock of Otis Worldwide Corp (OTIS) has seen a -2.75% decrease in the past week, with a 10.08% rise in the past month, and a 4.18% gain in the past quarter. The volatility ratio for the week is 1.75%, and the volatility levels for the past 30 days are at 1.76% for OTIS. The simple moving average for the past 20 days is 1.68% for OTIS’s stock, with a 6.43% simple moving average for the past 200 days.
Analysts’ Opinion of OTIS
Morgan Stanley, on the other hand, stated in their research note that they expect to see OTIS reach a price target of $97. The rating they have provided for OTIS stocks is “Equal-Weight” according to the report published on September 06th, 2024.
OTIS Trading at 5.51% from the 50-Day Moving Average
After a stumble in the market that brought OTIS to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -4.24% of loss for the given period.
Volatility was left at 1.76%, however, over the last 30 days, the volatility rate increased by 1.75%, as shares surge +9.66% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +8.63% upper at present.
During the last 5 trading sessions, OTIS fell by -2.62%, which changed the moving average for the period of 200-days by +14.48% in comparison to the 20-day moving average, which settled at $99.26. In addition, Otis Worldwide Corp saw 12.80% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at OTIS starting from Anurag Maheshwari, who proposed sale 32,987 shares at the price of $94.89 back on Sep 16 ’24. After this action, Anurag Maheshwari now owns shares of Otis Worldwide Corp, valued at $3,130,000 using the latest closing price.
Anurag Maheshwari, the Officer of Otis Worldwide Corp, proposed sale 35,546 shares at $95.00 during a trade that took place back on Sep 04 ’24, which means that Anurag Maheshwari is holding shares at $3,376,870 based on the most recent closing price.
Stock Fundamentals for OTIS
Current profitability levels for the company are sitting at:
- 0.16 for the present operating margin
- 0.3 for the gross margin
The net margin for Otis Worldwide Corp stands at 0.1. The total capital return value is set at 1.13.
Based on Otis Worldwide Corp (OTIS), the company’s capital structure generated 3.36 points at debt to capital in total, while cash flow to debt ratio is standing at 0.19. The debt to equity ratio resting at -1.42. The interest coverage ratio of the stock is 14.75.
Currently, EBITDA for the company is 2.38 billion with net debt to EBITDA at 2.7. When we switch over and look at the enterprise to sales, we see a ratio of 3.32. The receivables turnover for the company is 3.26for trailing twelve months and the total asset turnover is 1.44. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.79.
Conclusion
To put it simply, Otis Worldwide Corp (OTIS) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
