Corteva, Inc. (NYSE:CTVA) Shares Sold by First National Bank & Trust Co. of Newtown

First National Bank & Trust Co. of Newtown trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 6.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,353 shares of the company’s stock after selling 699 shares during the quarter. First National Bank & Trust Co. of Newtown’s holdings in Corteva were worth $590,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Hager Investment Management Services LLC acquired a new position in shares of Corteva in the 4th quarter valued at $27,000. Golden State Wealth Management LLC acquired a new position in Corteva in the fourth quarter valued at $32,000. Capital Advisors Ltd. LLC grew its holdings in shares of Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares during the last quarter. First Financial Corp IN acquired a new stake in shares of Corteva during the fourth quarter worth about $35,000. Finally, Albion Financial Group UT increased its position in shares of Corteva by 112.6% during the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays raised their price target on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Oppenheimer raised their target price on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Citigroup upped their price target on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their price objective on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Finally, Bank of America upped their target price on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.73.

Corteva Stock Down 1.3 %

CTVA opened at $63.65 on Thursday. The business has a 50 day simple moving average of $60.65 and a 200-day simple moving average of $58.71. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The stock has a market capitalization of $43.75 billion, a P/E ratio of 49.34, a P/E/G ratio of 1.68 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. On average, equities analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.07%. Corteva’s payout ratio is 52.71%.

Corteva declared that its board has authorized a stock repurchase plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Corteva

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.