BlackRock Fund Advisors has recently announced that it has increased stake in Otis Worldwide Corp (NYSE:OTIS) by 2.32%. After grabbing 20.67 million shares, the institutional investor is now in possession of 0.47 million shares of the Industrials Company. The new investment brought the stake of investor firm to 5.05% having worth around $1.77 billion. Moreover, AllianceBernstein LP increased its share by 5.65 million to have a control over 17.89 million shares. And Geode Capital Management LLC raised its holdings to 0.23 million shares by acquiring 10.37 million shares or 2.53% of the stake.
Otis Worldwide Corp (OTIS) concluded trading on 01/10/24 at a closing price of $87.00, with 5.0 million shares of worth about $435.31 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -1.93% during that period and on Wednesday the price saw a gain of about 0.12%. Currently the company’s common shares owned by public are about 414.80M shares, out of which, 408.88M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 117 times over the past 12 months. They bought 421,097 shares in 54 of the transactions. In 63 selling transactions, insiders dumped 258,251 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Fundsmith Equity Fund are the top 3 mutual funds which are holding stakes in Otis Worldwide Corp Vanguard Total Stock Market ETF is currently holding 12.9 million shares of worth totaling $1.11 billion. The company recently came buying 14580.0 shares which brought its stake up to 3.15% of the company’s outstanding shares. Vanguard 500 Index Fund bought 49850.0 shares, after which its hold over company’s outstanding shares expand to 2.43%, leaving 9.95 million shares with the mutual fund that have a worth of about $853.19 million. Fundsmith Equity Fund, after buying 5.77 million shares, have now control over 1.41% of the stake in the company. It holds 5.77 million shares of worth $495.4 million.
Otis Worldwide Corp (NYSE: OTIS) started trading at $86.67, below -$0.23 from concluding price of the previous day. Stock saw a price change of -0.74% in past 5 days and over the past one month there was a price change of -0.57%. Year-to-date (YTD), OTIS shares are showing a performance of -2.76% which increased to 6.79% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $73.32 but also hit the highest price of $91.33 during that period. The average intraday trading volume for Otis Worldwide Corp shares is 2.02 million. The stock is currently trading -2.08% below its 20-day simple moving average (SMA20), while that difference is up 2.03% for SMA50 and it goes to 3.15% higher than SMA200.
BlackRock Fund Advisors acquired 20.67 million shares of Otis Worldwide Corp having value of about $1.77 billion. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.47 million shares in the company valued at close to $40789341.0, or have control over 2.32% stake in the company. Otis Worldwide Corp (NYSE: OTIS) currently have 414.80M outstanding shares and institutions hold larger chunk of about 88.95% of that. Holding of mutual funds in the company is about 38.21% while other institutional holders and individual stake holders have control over 51.21% and 0.10% of the stake respectively.
The stock has a current market capitalization of $35.61B and its 3Y-monthly beta is at 0.90. PE ratio of stock for trailing 12 months is 26.25, while it has posted earnings per share of $3.31 in the same period. Its PEG reads 2.68 and has Quick Ratio of 0.91. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for OTIS, volatility over the week remained 0.90% while standing at 1.13% over the month.
Analysts are in expectations that Otis Worldwide Corp (OTIS) stock would likely to be making an EPS of $0.86 in the current quarter, while forecast for next quarter EPS is $0.88 and it is $3.85 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.84 which is $0.88 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.75 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 11.10% while it is estimated to increase by 9.01% in next year. EPS is likely to shrink at an annualized rate of 9.80% for next 5-years, compared to annual growth of 15.07% made by the stock over the past 5-years.
Analysts at 14 brokerage firms have issued recommendations for the Otis Worldwide Corp (OTIS)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.36. Out of those 14 Wall Street analysts, 4 recommended a “Buy” rating, while 9 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
