Otis Worldwide Corp. (OTIS), a company in the elevator and escalator business, has shown mixed stock performance; while it frequently underperforms, there have been notable instances when it outperformed the market. Added to institutional portfolios by National Bank of Canada FI and EFG Asset Management Americas, its financial health was also improved by events including a 10-year service contract extension for Burj Khalifa, a modernization project, and new Gen3™ Digitally-Connected Elevator's launch in Thailand. Morgan Stanley initiated coverage on OTIS and the firm outperformed market expectations in both Q1 and Q2 of 2024. Securities and Exchange Commission Form 8-K revealed new appointments to the OTIS board, and analysts have endorsed the stock as a strong growth and momentum investment. However, there have been divestitures and share sales by insiders and institutional investors as well, indicating potential concerns. OTIS lowered its 2024 sales forecast due to weak demand, and its Q2 results were mixed, even as adjusted EPS outlook is raised. Moreover, all OTIS manufacturing facilities in China have earned Zero Waste Certification, emphasizing its environmental commitments.
Otis Worldwide Corporation OTIS News Analytics from Thu, 05 Oct 2023 07:00:00 GMT to Sun, 08 Sep 2024 11:00:28 GMT -
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