Otis Worldwide Corp (NYSE: OTIS) May Be Attracting Institutional Investments

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Recently, Yahoo Finance discussed the stock, revealing that Otis Declares Quarterly Dividend of $0.34 per Share.

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Stocks Info

Otis Worldwide Corp is listed on the NYSE as a member of the Industrials sector and is a part of the Specialty Industrial Machinery industry. The current market capitalization of Otis Worldwide Corp is $37.23B. A total of 2.04 million shares were traded on the day, compared to an average of 2.14M shares.

Insider Activity

Additionally, investors take into account insider trades when predicting how a stock will perform. During the recent three months, OTIS has seen 1 BUY and 1 SELL insider trades, representing the acquisition of 116 and the disposition of 116 shares. Over the last 12 months, there were 31 BUYs and 33 SELLs from insiders. Insiders purchased 296,018 shares during that period but sold 151,808.

In the most recent transaction, Ryan Michael Patrick sold 6,372 shares of OTIS for 90.50 per share on Jul 28. After the transaction, the VP, CAO & Controller now owns 0 company shares. In a previous transaction on Jul 28, Calleja Fernandez Bernardo sold 3,992 shares at 90.70 per share. OTIS shares that President, Otis EMEA owns now total 42,097.

Among the insiders who sold shares, Calleja Fernandez Bernardo disposed of 703 shares on Mar 06 at a per-share price of $86.85. This resulted in the President, Otis EMEA holding 22,215 shares of OTIS after the transaction. In another insider transaction, Calleja Fernandez Bernardo sold 837 shares at $84.67 per share on Feb 14. Company shares held by the President, Otis EMEA now total 19,998.

Dividend

It is more appealing for investors to invest in companies that pay dividends because dividends generate immediate cash flow and indicate a positive outlook for the company. Otis Worldwide Corp pays an annual dividend of $1.46, resulting in a dividend yield of 1.60%, and it has a price to earnings (P/E) ratio of 26.80. OTIS’s most recent ex-dividend date was 2/15/2024 when it declared a $0.34 quarterly dividend that was paid in cash on 3/8/2024. Previously, the company paid the dividend on 12/8/2023 with an ex-dividend date of 11/16/2023. The OTIS stock dividend was $0.34 per share in cash.

Though price targets are rarely accurate, they can exert some influence from time to time and were often accepted as valuable by the market. In terms of 52-week highs and lows, OTIS has a high of $92.12 and a low of $73.32.

As of this writing, OTIS has an earnings estimate of $OSI Systems, Inc. per share for the current quarter. EPS was calculated based on a consensus of Otis Worldwide Corporation estimates, with a high estimate of $OTIS WORLDWIDE CORP per share and a lower estimate of $Oil States International, Inc.

Balance Sheet Annually/Quarterly

A balance sheet is a report that shows the company’s assets and liabilities. In addition, it shows how much equity investors have invested in the company. Investors can determine the company’s prospects by calculating its financial ratios based on this information. OTIS’s latest balance sheet shows that the firm has $1.56B in Cash & Short Term Investments as of fiscal 2021. There were $7.79B in debt and $6.25B in liabilities at the time. Its Book Value Per Share was -$11.70, while its Total Shareholder’s Equity was -$2.98B.

Analysts Opinion

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for OTIS is Buy with a score of 3.57.

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