Hartford Investment Management Co. Has $2.56 Million Position in Corteva, Inc. (NYSE:CTVA)

Hartford Investment Management Co. cut its holdings in Corteva, Inc. (NYSE:CTVA) by 2.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 43,599 shares of the company’s stock after selling 1,038 shares during the quarter. Hartford Investment Management Co.’s holdings in Corteva were worth $2,563,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Private Advisor Group LLC grew its stake in shares of Corteva by 1.1% during the third quarter. Private Advisor Group LLC now owns 28,482 shares of the company’s stock valued at $1,674,000 after purchasing an additional 313 shares during the last quarter. Westhampton Capital LLC lifted its holdings in Corteva by 2.5% during the 3rd quarter. Westhampton Capital LLC now owns 8,641 shares of the company’s stock worth $508,000 after buying an additional 213 shares in the last quarter. Eastern Bank bought a new position in Corteva in the 3rd quarter valued at $332,000. Sequoia Financial Advisors LLC increased its stake in shares of Corteva by 31.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 22,682 shares of the company’s stock valued at $1,333,000 after buying an additional 5,466 shares during the period. Finally, Oakworth Capital Inc. raised its position in shares of Corteva by 67.8% during the third quarter. Oakworth Capital Inc. now owns 1,178 shares of the company’s stock worth $69,000 after acquiring an additional 476 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Stock Performance

CTVA opened at $60.79 on Friday. The stock has a market capitalization of $42.37 billion, a P/E ratio of 76.95, a P/E/G ratio of 1.66 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $61.20. The firm’s fifty day simple moving average is $56.84 and its 200 day simple moving average is $55.13.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. The company had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.60 earnings per share. As a group, research analysts anticipate that Corteva, Inc. will post 2.66 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.17 per share. This is a boost 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 was Tuesday, September 3rd. Corteva’s dividend payout ratio (DPR) is currently 86.08%.

Analyst Ratings Changes

A number of analysts recently commented on CTVA shares. KeyCorp lowered their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Citigroup initiated coverage on shares of Corteva in a research report on Wednesday. They set a “buy” rating and a $68.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company reduced their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average target price of $62.84.

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.