Van ECK Associates, among other companies, modified their share holdings in
Otis Worldwide Co. (NYSE:OTIS), resulting in considerable transactions in the company's stock. HSBC has also increased Otis Worldwide's price target from $92 to $94. Despite some executive sales of stock by the company's EVP and CEO, firms like
Arlington Partners LLC and
Mirae Asset Global Investments Co. continue to acquire the company's shares. The company's Q4 2024 earnings highlighted healthy service growth, although revenue missed estimates, causing a temporary stock price drop. However, Otis Worldwide surprised the market positively with a significant $2 billion share buyback program beginning 2025. Otis showed a strong performance and positive outlook affirming its commitment to shareholder return through a declared dividend of $0.39 per share. Otis Worldwide, despite facing talent retention challenges in a competitive labor market and a subsequent lowering of sales forecast due to weak demand, is actively taking initiatives to reduce its greenhouse gas emissions and has been awarded a gold medal sustainability recognition from
EcoVadis. Finally, various changes in the company's higher management suggest that it continues to evolve, with Nicolas Lopez taking over as the Managing Director of Southeast Asia.
Otis Worldwide Corporation OTIS News Analytics from Wed, 24 Jul 2024 12:56:44 GMT to Sat, 15 Feb 2025 18:54:57 GMT -
Rating 5
- Innovation 7
- Information 8
- Rumor 3
