Penserra Capital Management LLC has expanded its stake in the Otis Worldwide Corporation, despite weak equipment sales predictions for Q2. Judy Marks, Otis' leader, navigating the firm through uncertain times and technology evolution. Morgan Stanley and Barclays have set a new $105.00 and $92.00 price targets for Otis, respectively. Otis has revealed its Q2 2025 results on July 23, moving 2.4B daily riders worldwide. However, the elevator manufacturer reported mixed Q4 results due to weakness in China's market dragging on its outlook. Otis stock recently reached a 52 week low of $90.09 amid market shifts, but also climbed to an all-time high of $106.35. Alongside financials, Otis is making strides in sustainable urban development, partnering with Tatweer Misr to implement smart vertical mobility solutions in urban communities. The corporation has ended the Italian antitrust probe by agreeing to pay $1.6 million. Other moves include selling its Bloomfield facility, paying a $617K settlement for false billing in Tennessee, and increasing its dividend by 110% since 2020. Looking forward, Otis plans on launching a $2 billion share buyback program in 2025.
Otis Worldwide Corporation OTIS News Analytics from Sat, 26 Oct 2024 07:00:00 GMT to Sat, 12 Jul 2025 10:53:36 GMT -
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