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Otis Worldwide met earnings expectations but missed revenue forecasts, announced a dividend, and saw insider selling.
Otis Worldwide (OTIS) reported $1.03 EPS, meeting expectations, but revenue of $3.80 billion fell short of $3.88 billion forecasts, though it rose 3.3% year-over-year. The company’s net margin was 9.59%, with a negative return on equity. It announced a $0.42 quarterly dividend, yielding 2.0%, and has a market cap of $32.33 billion. Institutional investors, including Squarepoint Ops LLC and Boothbay Fund Management, increased stakes, while insiders sold $14.3 million in shares. Analysts rate the stock a “Hold” with a $101.44 average target.
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