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 $3,130,000 were purchased by Anurag Maheshwari on Sep 16 ’24. At $94.89 per share, Anurag Maheshwari acquired 32,987 shares.
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Also, Anurag Maheshwari purchased 35,546 shares, netting a total of over 3,376,870 in proceeds.
Before that, Zheng Peiming had sold 30,364 shares from its account. In a trade valued at $2,844,682, the EVP, Chief Product, Delivery traded Otis Worldwide Corp shares for $93.69 each. Upon closing the transaction, the insider’s holdings decreased to 30,364 shares, worth approximately $1.62 million.
As published in their initiating research note from Morgan Stanley on September 06, 2024, Otis Worldwide Corp [OTIS] has been an Equal-weight and the price target has been revised to $97. Analysts at Melius started covering the stock with ‘”a Hold”‘ outlook in a report released in early April. As of February 22, 2024, Argus has increased its “Hold” rating to a “Buy” for OTIS. Earlier on January 02, 2024, Vertical Research downgraded its rating. Their new recommendation was “a Hold” for OTIS stock which previously was a “a Buy”.
Analyzing OTIS Stock Performance
During the last five days, there has been a surge of approximately 0.89%. Over the course of the year, Otis Worldwide Corp shares have jumped approximately 16.58%. Shares of the company reached a 52-week high of $105.39 on 10/03/24 and a 52-week low of $85.42 on 01/17/24. A 50-day SMA is recorded $95.05, while a 200-day SMA reached $94.62. Nevertheless, trading volume fell to 2.84 million shares from 2.78 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 103.68, which, if violated, would cause prices to drop to 103.05. In the upper region, resistance lies at 105.16. The next price resistance is at 106.01. RSI (Relative Strength Index) is 72.47 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.57, which suggests the price will increase in the coming days. Percent R is at 9.44%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
