Global Trust Asset Management LLC Trims Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Global Trust Asset Management LLC lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 2.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,726 shares of the company’s stock after selling 354 shares during the period. Global Trust Asset Management LLC’s holdings in Corteva were worth $748,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brookstone Capital Management bought a new position in Corteva during the 1st quarter worth approximately $204,000. Wealthcare Advisory Partners LLC lifted its holdings in Corteva by 20.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,435 shares of the company’s stock worth $371,000 after buying an additional 1,074 shares during the last quarter. Register Financial Advisors LLC bought a new position in Corteva during the 1st quarter worth approximately $106,000. Silverleafe Capital Partners LLC bought a new position in Corteva during the 1st quarter worth approximately $1,244,000. Finally, S.E.E.D. Planning Group LLC lifted its holdings in Corteva by 14.6% during the 1st quarter. S.E.E.D. Planning Group LLC now owns 50,167 shares of the company’s stock worth $2,893,000 after buying an additional 6,392 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CTVA. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and raised their price target for the stock from $59.00 to $67.00 in a report on Wednesday, October 16th. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. KeyCorp cut their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. lowered their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Wells Fargo & Company lowered their target price 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 analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.84.

Corteva Stock Performance

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

Corteva (NYSE:CTVA) last issued 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 business had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. Corteva’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.60 earnings per share. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.66 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.17 dividend. 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. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is 86.08%.

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.