Otis Worldwide

Judy Marks will resign as chair, chief executive officer and president of Otis once a successor is found; this is expected in the first half of 2027. The board has launched a succession search with support from Spencer Stuart, overseen by a committee of independent directors. Marks will remain in her role until July 31, 2027, or serve as senior advisor until a successor is appointed. Under her leadership, Otis returned $8.4 billion to shareholders since the spin-off, total shareholder return was 77%, and the service portfolio grew by about 25% to roughly 2.5 million units. » More on de.investing.com

Otis shares hit a 52-week low, closing at $69.14, about 21% down year-to-date and roughly 27% below the year high of $94.56. Despite a revenue beat in the second quarter of $3.9 billion and adjusted EPS of $1.01, the company cut its full-year guidance and forecast lower operating results, which put pressure on margins. The service segment reported 9% organic revenue growth, but adjusted operating income and margins declined, affected by inflation and productivity issues. InvestingPro notes a dividend yield of 2.51% and six consecutive dividend increases, suggesting the stock may be undervalued at current levels. » More on de.investing.com

Otis is rolling out its Gen3‑MOD modernization solutions across Europe, the Middle East and Africa after they were previously available in the US, Canada and Asia. The solutions target more than six million elevators in the region and offer three modernization packages ranging from partial upgrades to a full Gen3 replacement; the Pro package is currently available in Germany, France, Spain and Switzerland. Investor notes cite a market capitalization of USD 27.9 billion, trailing‑12‑month revenue of USD 14.65 billion, a P/E ratio of 19.3 and a dividend yield of 2.4%; the stock is trading near its 52‑week low of USD 69.16. » More on de.investing.com