Otis Worldwide Corporation has been attracting substantial market attention, marked by regular fluctuations in its stock trading and company dealings. A consistent increase in
short interest in the NYSE:OTIS stock has been registered, although it continues to underperform the industrial sector. Despite its underperformance, the stocks managed to rise on several days. The company’s Taiwan subsidiary acquired
Jardine Schindler Lifts in Taiwan, marking a significant business dealing. A significant leadership update was filed with SEC Form 8-K. The company’s intrinsic calculation suggests it is 21% undervalued. Major stakeholders, such as Federated Hermes Inc., Royal London Asset Management, and Varma Mutual Pension Insurance Co, have substantially increased their stock positions. The company has demonstrated solid service growth and margin expansion in Q1 Earnings. However, Otis Worldwide’s net sales missed expectations even though Q2 earnings beat analyst estimates. Multiple institutions like EFG Asset Management Americas Corp. and National Bank of Canada FI have boosted their stock holdings. The company has also announced management changes with new CFO appointment and board member appointments. Other company dealings include a modernization project, and the launch of Gen3™ Digitally-Connected Elevator. Women leads in the company have been recognized by Paradigm for Parity®. Despite lowered 2024 sales forecast due to weak demand, OTIS indicates a potential return to an all-time high.
Otis Worldwide Corporation OTIS News Analytics from Thu, 28 Sep 2023 07:00:00 GMT to Sun, 15 Sep 2024 10:40:47 GMT -
Innovation 5
- Information 4
- Rumor 4
