The global elevator and escalator company, Otis Worldwide Corporation OTIS, is experiencing significant financial activity, with multiple major institutions and asset management companies adjusting their stock holdings. There's been a cautious sentiment expressed around the Q4 earnings with missed expectations, while its future growth is speculated to be strong. Shares have been bought by Franklin Resources Inc., ExodusPoint Capital Management, Brown Brothers Harriman, among others, and sold by the likes of Massachusetts Financial Services Co, LPL Financial LLC and Mitsubishi UFJ Trust & Banking Corp. Recently, Otis announced it would supply equipment for a new project in Kaohsiung and initiated a $2 billion share buyback scheduled to start in 2025. The company's leadership in terms of adapting to uncertainty and technological evolution have been praised. Despite some hurdles, including an antitrust probe in Italy, Otis' stock reached an all-time high of $106.35, and the alterations in stockholder bylaws make it easier for them to take action.
Otis Worldwide Corporation OTIS News Analytics from Thu, 10 Oct 2024 07:00:00 GMT to Sat, 05 Apr 2025 18:34:34 GMT - Rating 7 - Innovation 2 - Information 7 - Rumor 5
