DT Investment Partners LLC Sells 184 Shares of Corteva, Inc. (NYSE:CTVA)

DT Investment Partners LLC decreased its position in Corteva, Inc. (NYSE:CTVA) by 0.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 19,704 shares of the company’s stock after selling 184 shares during the quarter. DT Investment Partners LLC’s holdings in Corteva were worth $1,158,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new stake in shares of Corteva in the first quarter worth $25,000. Acadian Asset Management LLC acquired a new position in shares of Corteva during the 1st quarter worth about $25,000. Albion Financial Group UT grew its holdings in shares of Corteva by 77.2% in the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares in the last quarter. Cultivar Capital Inc. acquired a new stake in shares of Corteva in the second quarter valued at about $34,000. Finally, Redwood Wealth Management Group LLC bought a new stake in Corteva during the second quarter worth about $43,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of analyst reports. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Citigroup began coverage on shares of Corteva in a research report on Wednesday. They set a “buy” rating and a $68.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company dropped their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Bank of America upgraded Corteva from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $59.00 to $67.00 in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.84.

Corteva Price Performance

NYSE:CTVA opened at $60.79 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The firm has a market cap of $42.37 billion, a price-to-earnings ratio of 76.95, a P/E/G ratio of 1.66 and a beta of 0.77. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $61.20. The firm’s 50-day simple moving average is $56.84 and its 200 day simple moving average is $55.13.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.74 by $0.09. The company had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $1.60 earnings per share. As a group, sell-side analysts predict that Corteva, Inc. will post 2.66 earnings per share for the current year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.17 per share. This is a positive change from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Tuesday, September 3rd. Corteva’s dividend payout ratio is 86.08%.

Corteva Company Profile

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.