The following summary highlights recent market activities and development surrounding Otis Worldwide Corporation (OTIS). Several financial institutions have been actively adjusting their stock holdings in OTIS. These include Raiffeisen Bank International AG that bought 3,349 shares and Arkadios Wealth Advisors and Natixis Advisors LLC increasing their stake in the company. Meanwhile, US Bancorp DE and Bank of Nova Scotia notably reduced their holdings.
OTIS secured a new $1.5 billion credit facility and continues to expand in Dubai through its partnership with Sobha Realty, where they'll install 76 elevators at a luxury residential development. For Q2, the company's earnings were strong but fell short on sales, leading to a downward revision of its sales view for 2025.
Notably, market lead Jim Cramer expressed concerns over OTIS's performance in China, where sales dropped by 20% in Q2. However, the company continues to face a difficult time reflected by its share price hitting a 52-week low. Despite these challenges, some analysts maintain a bull case theory for OTIS, urging investors to see the price decline as a buying opportunity.
Otis Worldwide Corporation OTIS News Analytics from Tue, 11 Mar 2025 07:00:00 GMT to Fri, 08 Aug 2025 22:29:03 GMT - Rating -2 - Innovation 4 - Information 5 - Rumor -6
