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Students Innovate to Improve Access to Urban Green Space
PRNewswire (Tue, 7-May 11:30 AM ET)
OTIS REPORTS FIRST QUARTER 2024 RESULTS
PRNewswire (Wed, 24-Apr 6:05 AM ET)
Otis Announces 14.7 Percent Increase in Quarterly Dividend to $0.39 per Share
PRNewswire (Tue, 23-Apr 4:15 PM ET)
Science Based Targets initiative Approves Otis Targets for Reducing Greenhouse Gas Emissions
PRNewswire (Mon, 22-Apr 7:02 AM ET)
Otis First Quarter 2024 Earnings Advisory
PRNewswire (Wed, 10-Apr 7:00 AM ET)
Globe Newswire (Thu, 7-Mar 4:01 PM ET)
Otis Wins Modernization Project and 10-Year Service Contract Extension for Burj Khalifa
PRNewswire (Wed, 6-Mar 8:00 AM ET)
Business Wire (Tue, 20-Feb 8:35 AM ET)
PRNewswire (Thu, 15-Feb 6:02 AM ET)
Otis is the largest global elevator and escalator supplier by revenue with around 18% global market share. In 1854 Otis' founder and namesake Elisha Graves Otis, invented a safety mechanism that prevented elevators from falling if the hoisting cable failed. The company's product and service lifecycle begins with installations of elevator units in new buildings, later selling maintenance services on the units, and eventually replacement of the units after the average 15- to 20-year useful life of an elevator. As the largest global OEM, Otis has amassed an installed base under service that exceeds 2 million elevators. Its business model is similar to that of its closest competitors Kone, Schindler, and TK Elevator.
Otis Worldwide Common trades on the NYSE stock market under the symbol OTIS.
As of May 13, 2024, OTIS stock price declined to $96.59 with 1,632,914 million shares trading.
OTIS has a beta of 0.94, meaning it tends to be less sensitive to market movements. OTIS has a correlation of 0.46 to the broad based SPY ETF.
OTIS has a market cap of $39.05 billion. This is considered a Large Cap stock.
Last quarter Otis Worldwide Common reported $3 billion in Revenue and $.88 earnings per share. This fell short of revenue expectation by $-23 million and exceeded earnings estimates by $.01.
In the last 3 years, OTIS stock traded as high as $100.35 and as low as $62.49.
The top ETF exchange traded funds that OTIS belongs to (by Net Assets): VTI, VOO, VO, SPY, IVV.
OTIS stock has underperformed the market in the last year with a return of +14.6%, while SPY returned +27.8%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in OTIS shares. However, OTIS has outperformed the market in the last 3 month and 2 week periods, returning +6.4% and +4.8%, while SPY returned +4.3% and +2.5%, respectively. This indicates OTIS has been having a stronger performance recently.
OTIS support price is $95.96 and resistance is $98.24 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that OTIS stock will trade within this expected range on the day.