Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Otis Worldwide Corp shares valued at $1,675,626 were sold by de Montlivault Stephane on Feb 21 ’24. At $91.10 per share, de Montlivault Stephane sold 18,393 shares. The insider’s holdings dropped to 67,274 shares worth approximately $6.28 million following the completion of this transaction.
Also, LaFreniere Nora E. sold 22,106 shares, netting a total of over 2,008,832 in proceeds. Following the sale of shares at $90.87 each, the insider now holds 24,927 shares.
Before that, Ryan Michael Patrick had sold 3,522 shares from its account. In a trade valued at $319,680, the SVP, CAO & Controller traded Otis Worldwide Corp shares for $90.77 each. Upon closing the transaction, the insider’s holdings decreased to 3,522 shares, worth approximately $70587.72.
As published in their initiating research note from Melius on April 02, 2024, Otis Worldwide Corp [OTIS] has been a Hold. Analysts at Argus upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late February. As of January 02, 2024, Vertical Research has decreased its “Buy” rating to a “Hold” for OTIS. Earlier on October 03, 2023, UBS initiated its rating. Their recommendation was “a Neutral” for OTIS stock.
Analyzing OTIS Stock Performance
During the last five days, there has been a drop of approximately -1.67%. Over the course of the year, Otis Worldwide Corp shares have jumped approximately 4.36%. Shares of the company reached a 52-week high of $100.35 on 03/22/24 and a 52-week low of $85.42 on 01/17/24. A 50-day SMA is recorded $96.21, while a 200-day SMA reached $87.85. Nevertheless, trading volume fell to 4.22 million shares from 2.07 million shares the previous day.
Support And Resistance Levels for Otis Worldwide Corp (OTIS)
According to the 24-hour chart, there is a support level at 91.96, which, if violated, would cause prices to drop to 90.54. In the upper region, resistance lies at 95.85. The next price resistance is at 98.32. RSI (Relative Strength Index) is 38.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.80, which suggests the price will decrease in the coming days. Percent R is at 94.30%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
