Aull & Monroe Investment Management Corp Has $391,000 Stock Position in Otis Worldwide Co. (NYSE:OTIS)

Aull & Monroe Investment Management Corp decreased its position in Otis Worldwide Co. (NYSE:OTIS) by 10.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,225 shares of the company’s stock after selling 500 shares during the period. Aull & Monroe Investment Management Corp’s holdings in Otis Worldwide were worth $391,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Candriam S.C.A. boosted its stake in Otis Worldwide by 9.9% in the 4th quarter. Candriam S.C.A. now owns 501,080 shares of the company’s stock worth $46,405,000 after purchasing an additional 44,980 shares during the period. Raymond James Financial Inc. acquired a new position in Otis Worldwide in the 4th quarter worth $24,451,000. Cullen Frost Bankers Inc. boosted its stake in Otis Worldwide by 0.6% in the 4th quarter. Cullen Frost Bankers Inc. now owns 113,262 shares of the company’s stock worth $10,489,000 after purchasing an additional 698 shares during the period. Proficio Capital Partners LLC acquired a new position in Otis Worldwide in the 4th quarter worth $193,000. Finally, M&T Bank Corp boosted its stake in Otis Worldwide by 1.7% in the 4th quarter. M&T Bank Corp now owns 187,161 shares of the company’s stock worth $17,333,000 after purchasing an additional 3,177 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Up 1.9 %

Otis Worldwide stock opened at $101.47 on Thursday. The stock has a market cap of $40.23 billion, a P/E ratio of 24.99 and a beta of 1.05. Otis Worldwide Co. has a twelve month low of $90.12 and a twelve month high of $106.33. The company’s 50-day moving average price is $95.50 and its two-hundred day moving average price is $97.67.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, January 29th. The company reported $0.93 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.02). Otis Worldwide had a net margin of 11.53% and a negative return on equity of 31.76%. Equities analysts anticipate that Otis Worldwide Co. will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 1.54%. Otis Worldwide’s dividend payout ratio is currently 38.42%.

Otis Worldwide announced that its board has initiated a stock buyback program on Thursday, January 16th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

OTIS has been the topic of several analyst reports. Wells Fargo & Company cut their price target on shares of Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. JPMorgan Chase & Co. cut their price target on shares of Otis Worldwide from $108.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Wolfe Research cut shares of Otis Worldwide from a “peer perform” rating to an “underperform” rating and set a $104.00 price target on the stock. in a research report on Thursday, December 12th. UBS Group initiated coverage on shares of Otis Worldwide in a research report on Wednesday, November 13th. They set a “neutral” rating and a $113.00 price target on the stock. Finally, Barclays dropped their target price on shares of Otis Worldwide from $94.00 to $91.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $102.88.

Insider Buying and Selling at Otis Worldwide

In other Otis Worldwide news, CEO Judith Fran Marks sold 28,440 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $95.77, for a total transaction of $2,723,698.80. Following the transaction, the chief executive officer now owns 230,153 shares in the company, valued at $22,041,752.81. This represents a 11.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nora E. Lafreniere sold 4,775 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $94.41, for a total transaction of $450,807.75. Following the transaction, the executive vice president now owns 24,927 shares in the company, valued at approximately $2,353,358.07. The trade was a 16.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 105,621 shares of company stock valued at $10,046,255 in the last three months. 0.23% of the stock is currently owned by company insiders.

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.