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Otis CEO Advocates for Stricter Regulations to Enhance Elevator Safety in India
ByAinvest
Sunday, Aug 10, 2025 2:49 pm ET1min read
Otis Worldwide Corporation is increasing manufacturing capacity in India, its fastest-growing market. The company's CEO, Judy Marks, emphasizes the need for more stringent regulation on elevators to ensure safety. Otis is open to working with regulators and the industry to develop a national code. India is the fastest-growing market for Otis, with demand driven by improvements in infrastructure and the rise of the middle class. The largest growth area for the company globally is refurbishing and modernizing older elevators.
Otis Worldwide Corporation (NYSE:OTIS) is increasing its manufacturing capacity in India, its fastest-growing market. The company's CEO, Judy Marks, has highlighted the need for more stringent regulation on elevators to ensure safety. Otis is open to working with regulators and the industry to develop a national code [1].India is the fastest-growing market for Otis, driven by improvements in infrastructure and the rise of the middle class. The largest growth area for the company globally is refurbishing and modernizing older elevators [1].
In the first quarter of 2025, several institutional investors increased their stakes in Otis Worldwide. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position by 16%, acquiring an additional 571,489 shares. Other hedge funds, including Vanguard Group Inc. and GAMMA Investing LLC, also increased their stakes, showing strong institutional interest in the company [1].
Otis Worldwide reported an earnings per share (EPS) of $1.05 in its latest quarter, slightly above analyst expectations, but its revenue of $3.60 billion fell short of projections, reflecting a 0.2% decline year-over-year [1].
The company declared a quarterly dividend of $0.42 per share, translating to an annualized yield of 1.9%, with a payout ratio of 44.44% [1].
Research analysts have mixed ratings on Otis Worldwide, with a consensus target price of $102.50 [2].
References:
[1] https://www.marketbeat.com/instant-alerts/filing-mitsubishi-ufj-asset-management-co-ltd-purchases-571489-shares-of-otis-worldwide-corporation-nyseotis-2025-08-07/
[2] https://www.marketbeat.com/instant-alerts/filing-bank-of-nova-scotia-sells-12345-shares-of-otis-worldwide-corporation-nyseotis-2025-08-06/
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