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Otis Worldwide Executive Makes Multi-Million Dollar Stock Sale

Otis Worldwide Executive Makes Multi-Million Dollar Stock Sale

New insider activity at Otis Worldwide ( (OTIS) ) has taken place on February 19, 2025.

Stephane de Montlivault, the President of Otis Asia Pacific, has recently sold 25,003 shares of Otis Worldwide stock, amassing a total of $2,428,541 from the transaction.

Recent Updates on OTIS stock

Otis Worldwide Corporation recently presented their Q4 earnings report, showcasing strong service performance and strategic initiatives such as the UpLift program. The company reported a 1.5% increase in net sales for Q4 2024, driven by a 7.6% rise in Service sales, and a notable 18% rise in modernization orders. Despite these strengths, Otis faced challenges, particularly in China, where New Equipment orders fell by more than 20% due to soft market demand. As a result, some analysts adjusted their price targets to reflect these market conditions, citing the decline in new equipment orders and the ongoing challenges in the Chinese market as key factors. Otis remains focused on its service-driven business model and strategic initiatives to navigate these headwinds and drive future growth.

More about Otis Worldwide

YTD Price Performance: 4.88%

Average Trading Volume: 1,883,483

Technical Sentiment Consensus Rating: Strong Sell

Current Market Cap: $38.36B

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Questions or Comments about the article? Write to editor@tipranks.com