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Stephane de Montlivault, President of Otis Asia Pacific, recently sold shares of Otis Worldwide Corp (NYSE:OTIS) amounting to approximately $701,286. The transactions occurred on March 10, 2025, with the stock sold at prices ranging from $105.2499 to $105.3389 per share. The sale took place near the stock’s 52-week high of $106.83, with Otis currently commanding a market capitalization of $40.2 billion and trading at a P/E ratio of 24.8.
In addition to the sales, de Montlivault exercised stock appreciation rights (SARs) to acquire 16,250 shares of common stock at a price of $81.85 per share, valued at $1,330,062. Following these transactions, de Montlivault’s direct ownership in Otis Worldwide stands at 63,931 shares.
These transactions were filed with the SEC as part of the ongoing disclosure requirements for corporate insiders.
In other recent news, Otis Worldwide Corporation released its fourth-quarter 2024 earnings, reporting an earnings per share (EPS) of $0.93, which was slightly below the analyst forecast of $0.95. However, the company surpassed revenue expectations, achieving $3.68 billion compared to the anticipated $3.67 billion. Otis also highlighted a significant milestone, achieving its highest quarterly adjusted free cash flow since its spin-off, amounting to $682 million. The company has been active in product development, introducing new elevator and escalator products in key markets, with a particular focus on transforming its operations in China. In terms of shareholder returns, Otis distributed $1.6 billion through dividends and share repurchases over the full year. Analysts have noted that the global new equipment market is expected to decline, posing potential challenges for Otis, particularly in China, where a 10% market decline is projected. Despite these challenges, Otis has laid out plans to repurchase $800 million in shares in 2025, reflecting confidence in its long-term strategy.
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