Toronto Dominion Bank Makes New $28,000 Investment in Otis Worldwide (NASDAQ:OTIS)

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Toronto Dominion Bank bought a new position in shares of Otis Worldwide (NASDAQ:OTIS) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 11,236 shares of the company’s stock, valued at approximately $28,000.

A number of other institutional investors have also modified their holdings of the business. Core Alternative Capital purchased a new position in Otis Worldwide during the 2nd quarter worth approximately $25,000. Independence Bank of Kentucky acquired a new stake in Otis Worldwide in the 2nd quarter valued at $26,000. Sowa Financial Group Inc. acquired a new stake in Otis Worldwide in the 2nd quarter valued at $26,000. Truehand Inc acquired a new stake in Otis Worldwide in the 2nd quarter valued at $27,000. Finally, Gradient Investments LLC acquired a new stake in Otis Worldwide in the 2nd quarter valued at $27,000.

NASDAQ:OTIS traded up $0.16 on Thursday, reaching $63.08. 26,709 shares of the company’s stock were exchanged, compared to its average volume of 4,192,786. The stock has a market cap of $28.49 billion and a price-to-earnings ratio of 32.79. The business has a fifty day simple moving average of $60.20. Otis Worldwide has a 52-week low of $38.00 and a 52-week high of $65.95.

Otis Worldwide (NASDAQ:OTIS) last released its earnings results on Tuesday, July 28th. The company reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.12. The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.92 billion. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 21st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. Otis Worldwide’s payout ratio is 41.67%.

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Otis Worldwide from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Argus assumed coverage on shares of Otis Worldwide in a research note on Thursday, June 18th. They set a “buy” rating and a $72.00 target price on the stock. Barclays reissued a “hold” rating on shares of Otis Worldwide in a research report on Friday, May 8th. William Blair started coverage on shares of Otis Worldwide in a report on Friday, May 8th. They issued a “market perform” rating on the stock. Finally, Cowen reiterated a “buy” rating and set a $64.00 price target on shares of Otis Worldwide in a research note on Monday, June 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $60.25.

Otis Worldwide Profile

There is no company description available for Otis Worldwide Corp.

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Institutional Ownership by Quarter for Otis Worldwide (NASDAQ:OTIS)

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