There have been divided performances for Otis Worldwide Corporation (OTIS) stock in the market, with periods of outperformance and underperformance. Anurag Maheshwari, the finance chief of OTIS, has been picked as CFO of 3M. The acquisition of OTIS shares by Plato Investment Management and sell-off by Gabelli Funds are also of note. Despite decreasing holdings by Railway Pension Investments, OTIS continues to enjoy solid service growth and margin expansion. Its Q2 earnings beat estimates, and FY 2024 earnings call show positive developments. However, there were mixed responses to its revised '24 outlook and new compensation plan. Notably, OTIS has won a significant modernization project and a 10-year service contract extension for the Burj Khalifa. Furthermore, OTIS announced a quarterly dividend of $0.39 per share. There have also been changes in the company board including appointments of Tom Bartlett and Jill Brannon. However, OTIS lowered its 2024 sales forecast due to weak demand.
Otis Worldwide Corporation OTIS News Analytics from Tue, 24 Oct 2023 07:00:00 GMT to Sat, 03 Aug 2024 17:41:35 GMT - Rating 5 - Innovation -2 - Information 4 - Rumor -3
