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

First National Trust Co cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 6.3% in the 4th quarter, Holdings Channel reports. The firm owned 4,212 shares of the company’s stock after selling 285 shares during the period. First National Trust Co’s holdings in Corteva were worth $202,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CTVA. Vanguard Group Inc. lifted its stake in Corteva by 2.4% in the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock valued at $4,161,709,000 after acquiring an additional 1,941,323 shares during the last quarter. Northern Trust Corp lifted its stake in Corteva by 2.7% in the third quarter. Northern Trust Corp now owns 12,505,783 shares of the company’s stock valued at $639,796,000 after acquiring an additional 327,321 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Corteva by 29.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock valued at $567,624,000 after acquiring an additional 2,545,570 shares during the last quarter. Van ECK Associates Corp lifted its stake in Corteva by 11.6% in the fourth quarter. Van ECK Associates Corp now owns 8,528,252 shares of the company’s stock valued at $408,674,000 after acquiring an additional 883,161 shares during the last quarter. Finally, WCM Investment Management LLC lifted its stake in Corteva by 3.1% in the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after acquiring an additional 213,949 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Performance

Shares of NYSE CTVA traded down $0.08 during mid-day trading on Monday, reaching $57.08. 164,265 shares of the company’s stock were exchanged, compared to its average volume of 3,508,494. The firm has a market capitalization of $39.78 billion, a price-to-earnings ratio of 72.35, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The firm has a 50-day moving average price of $55.37 and a two-hundred day moving average price of $50.65. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $59.04.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the company posted $1.16 EPS. Analysts predict that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.12%. Corteva’s dividend payout ratio is 81.01%.

Analyst Upgrades and Downgrades

CTVA has been the topic of several research analyst reports. Wells Fargo & Company increased their price objective on shares of Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday. BNP Paribas raised shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price target on the stock in a research report on Friday, February 2nd. BMO Capital Markets raised their price target on shares of Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday. KeyCorp raised their target price on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Finally, Wolfe Research started coverage on shares of Corteva in a report on Friday, March 1st. They issued an “outperform” rating and a $67.00 target price on the stock. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.38.

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.