First National Bank & Trust Co. of Newtown Lowers Stock Holdings in Corteva, Inc. $CTVA

First National Bank & Trust Co. of Newtown lessened its position in shares of Corteva, Inc. (NYSE:CTVA) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,137 shares of the company’s stock after selling 166 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in Corteva were worth $755,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CTVA. Nuveen LLC purchased a new stake in Corteva during the first quarter valued at about $640,333,000. Assenagon Asset Management S.A. grew its position in Corteva by 4,769.2% during the second quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock valued at $143,427,000 after acquiring an additional 1,884,897 shares during the period. JPMorgan Chase & Co. grew its position in Corteva by 54.6% during the first quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock valued at $315,219,000 after acquiring an additional 1,769,355 shares during the period. Price T Rowe Associates Inc. MD grew its position in Corteva by 65.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,251,449 shares of the company’s stock valued at $204,615,000 after acquiring an additional 1,290,009 shares during the period. Finally, Vanguard Group Inc. grew its position in Corteva by 0.8% during the first quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock valued at $5,022,736,000 after acquiring an additional 639,799 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the sale, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTVA. Barclays raised Corteva from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $75.00 to $84.00 in a research report on Wednesday, August 13th. Deutsche Bank Aktiengesellschaft upped their target price on Corteva from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Wall Street Zen raised Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. KeyCorp upped their target price on Corteva from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Finally, Zacks Research raised Corteva to a “hold” rating in a research report on Friday, August 8th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Corteva Trading Down 9.2%

Shares of NYSE CTVA opened at $61.41 on Thursday. The stock’s 50 day moving average price is $71.64 and its two-hundred day moving average price is $68.83. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41. The stock has a market capitalization of $41.70 billion, a P/E ratio of 29.95, a PEG ratio of 1.55 and a beta of 0.77. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.31. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter in the prior year, the firm posted $1.83 earnings per share. Corteva’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, September 2nd. This is an increase from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.2%. Corteva’s payout ratio is currently 35.12%.

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.