TD Asset Management Inc Has $19.86 Million Position in Otis Worldwide Corporation (NYSE:OTIS)

TD Asset Management Inc decreased its position in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 192,438 shares of the company's stock after selling 10,363 shares during the quarter. TD Asset Management Inc's holdings in Otis Worldwide were worth $19,860,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of OTIS. Transce3nd LLC acquired a new position in Otis Worldwide in the 4th quarter valued at $25,000. NBC Securities Inc. acquired a new stake in Otis Worldwide during the 1st quarter worth approximately $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Otis Worldwide in the 4th quarter valued at $28,000. Wayfinding Financial LLC acquired a new stake in Otis Worldwide during the first quarter worth approximately $31,000. Finally, Orion Capital Management LLC acquired a new stake in Otis Worldwide in the fourth quarter worth $35,000. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Stock Performance

OTIS traded down $0.74 during trading on Thursday, hitting $85.69. The stock had a trading volume of 4,071,348 shares, compared to its average volume of 2,956,224. Otis Worldwide Corporation has a twelve month low of $85.45 and a twelve month high of $106.83. The company's 50-day moving average price is $96.31 and its 200 day moving average price is $97.16. The firm has a market capitalization of $33.63 billion, a P/E ratio of 22.39, a PEG ratio of 4.15 and a beta of 0.98.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.02. The business had revenue of $3.60 billion for the quarter, compared to analysts' expectations of $3.73 billion. Otis Worldwide had a net margin of 10.68% and a negative return on equity of 30.95%. The company's revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 EPS. As a group, equities analysts expect that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 15th. Otis Worldwide's dividend payout ratio (DPR) is presently 44.44%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company cut their price objective on Otis Worldwide from $100.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 24th. Royal Bank Of Canada dropped their target price on shares of Otis Worldwide from $108.00 to $105.00 and set an "outperform" rating for the company in a research report on Monday. Wolfe Research upgraded Otis Worldwide from an "underperform" rating to a "peer perform" rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Otis Worldwide in a report on Monday, July 14th. They set a "hold" rating and a $109.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their target price on shares of Otis Worldwide from $109.00 to $101.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $102.50.

About Otis Worldwide

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.