Otis Worldwide Corporation $OTIS Shares Sold by Aull & Monroe Investment Management Corp

Aull & Monroe Investment Management Corp lowered its stake in Otis Worldwide Corporation (NYSE:OTIS) by 31.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,845 shares of the company’s stock after selling 1,325 shares during the quarter. Aull & Monroe Investment Management Corp’s holdings in Otis Worldwide were worth $282,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Berkshire Money Management Inc. lifted its holdings in Otis Worldwide by 5.0% in the second quarter. Berkshire Money Management Inc. now owns 2,100 shares of the company’s stock worth $208,000 after purchasing an additional 100 shares during the period. Park Avenue Securities LLC lifted its holdings in Otis Worldwide by 0.8% in the second quarter. Park Avenue Securities LLC now owns 13,876 shares of the company’s stock worth $1,374,000 after purchasing an additional 104 shares during the period. PFG Investments LLC lifted its holdings in Otis Worldwide by 3.7% in the second quarter. PFG Investments LLC now owns 3,428 shares of the company’s stock worth $339,000 after purchasing an additional 121 shares during the period. MSH Capital Advisors LLC lifted its holdings in Otis Worldwide by 5.4% in the second quarter. MSH Capital Advisors LLC now owns 2,362 shares of the company’s stock worth $234,000 after purchasing an additional 122 shares during the period. Finally, Bennett Selby Investments LP lifted its holdings in Otis Worldwide by 6.0% in the second quarter. Bennett Selby Investments LP now owns 2,301 shares of the company’s stock worth $228,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Price Performance

Shares of OTIS opened at $91.39 on Friday. The company has a market capitalization of $35.87 billion, a price-to-earnings ratio of 24.18, a P/E/G ratio of 3.58 and a beta of 1.00. The business’s 50-day moving average is $88.92 and its 200-day moving average is $93.26. Otis Worldwide Corporation has a fifty-two week low of $84.25 and a fifty-two week high of $106.83.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Otis Worldwide had a negative return on equity of 30.95% and a net margin of 10.68%.The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 EPS. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. Equities research analysts expect that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 15th. Otis Worldwide’s dividend payout ratio is currently 44.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. Barclays dropped their price target on shares of Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating on the stock in a research report on Thursday, July 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Otis Worldwide in a research report on Wednesday, October 8th. Wolfe Research set a $109.00 price target on shares of Otis Worldwide and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Otis Worldwide from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $104.63.

Otis Worldwide Profile

Otis Worldwide Corporation engages in manufacturing, installation, and servicing of elevators and escalators in the United States, China, and internationally. The company operates in two segments, New Equipment and Service. The New Equipment segment designs, manufactures, sells, and installs a range of passenger and freight elevators, as well as escalators and moving walkways for residential and commercial buildings, and infrastructure projects.