On November 7, 2024, Abbe Luersman, Executive Vice President & Chief People Officer of Otis Worldwide Corp (OTIS, Financial), executed a sale of 9,000 shares of the company at a price of $101.02 per share. This transaction was documented in an SEC Filing. Following this sale, the insider now owns 9,992 shares of Otis Worldwide Corp.
Otis Worldwide Corp is a global leader in the manufacture, installation, and service of elevators, escalators, and moving walkways. The company's products are essential in various residential, commercial, and infrastructure projects worldwide.
Over the past year, Abbe Luersman has sold a total of 9,000 shares and has not purchased any shares of the company. This recent transaction follows a pattern observed in the insider transaction history for Otis Worldwide Corp, which shows no insider buys and six insider sells over the past year.
The shares of Otis Worldwide Corp were trading at $101.02 on the day of the transaction, giving the company a market cap of approximately $40.15 billion. The price-earnings ratio of the company stands at 25.06, which is slightly lower than the industry median of 25.41 and also below the company’s historical median.
According to the GF Value, the intrinsic value estimate for Otis Worldwide Corp is $90.10 per share, making the stock modestly overvalued with a price-to-GF-Value ratio of 1.12. The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates.
This insider sale might interest investors tracking insider behaviors as an indicator of the company’s future performance and valuation alignment.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
