In a filing, Otis Worldwide Corp revealed its Officer Anurag Maheshwari acquired Company’s shares for reported $3.13 million on Sep 16 ’24. In the deal valued at $94.89 per share,32,987 shares were bought.
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Then, Anurag Maheshwari bought 35,546 shares, generating $3,376,870 in total proceeds.
Before that, Zheng Peiming sold 30,364 shares. Otis Worldwide Corp shares valued at $2,844,682 were divested by the EVP, Chief Product, Delivery at a price of $93.69 per share. As a result of the transaction, Zheng Peiming now holds 15,570 shares, worth roughly $1.62 million.
Morgan Stanley initiated its Otis Worldwide Corp [OTIS] rating to an Equal-weight in a research note published on September 06, 2024; the price target was $97. A number of analysts have revised their coverage, including Melius’s analysts, who began to cover the stock in early April with a ‘”a Hold”‘ rating. Argus also remained covering OTIS and has increased its forecast on February 22, 2024 with a “Buy” recommendation from previously “Hold” rating. Vertical Research revised its rating on January 02, 2024. It rated OTIS as “a Hold” which previously was an “a Buy”.
Price Performance Review of OTIS
On Monday, Otis Worldwide Corp [NYSE:OTIS] saw its stock fall -0.52% to $104.02. Over the last five days, the stock has gained 0.08%. Otis Worldwide Corp shares have risen nearly 16.26% since the year began. Nevertheless, the stocks have risen 31.44% over the past one year. While a 52-week high of $105.39 was reached on 10/03/24, a 52-week low of $73.32 was recorded on 01/17/24. SMA at 50 days reached $95.49, while 200 days put it at $94.76.
Levels Of Support And Resistance For OTIS Stock
The 24-hour chart illustrates a support level at 103.36, which if violated will result in even more drops to 102.71. On the upside, there is a resistance level at 104.82. A further resistance level may holdings at 105.63. The Relative Strength Index (RSI) on the 14-day chart is 70.04, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.31, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 11.86%. Stochastics %K at 90.51% indicates the stock is a selling.
How much short interest is there in Otis Worldwide Corp?
A steep rise in short interest was recorded in Otis Worldwide Corp stocks on 2024-09-13, dropping by -0.19 million shares to a total of 6.72 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 6.91 million shares. There was a decline of -2.85%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on October 03, 2023 when UBS began covering the stock and recommended ‘”a Neutral”‘ rating along with a $87 price target.
