First National Bank & Trust Co. of Newtown Sells 248 Shares of Corteva, Inc. (NYSE:CTVA)

First National Bank & Trust Co. of Newtown trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,044 shares of the company’s stock after selling 248 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in Corteva were worth $577,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Xponance Inc. raised its stake in shares of Corteva by 3.8% during the 4th quarter. Xponance Inc. now owns 90,297 shares of the company’s stock worth $4,327,000 after purchasing an additional 3,284 shares during the period. Goodman Advisory Group LLC increased its holdings in Corteva by 3.8% in the 4th quarter. Goodman Advisory Group LLC now owns 39,616 shares of the company’s stock worth $1,898,000 after acquiring an additional 1,447 shares during the last quarter. Keene & Associates Inc. increased its holdings in Corteva by 20.6% in the 4th quarter. Keene & Associates Inc. now owns 13,817 shares of the company’s stock worth $662,000 after acquiring an additional 2,358 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Corteva by 1.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock worth $132,293,000 after acquiring an additional 31,171 shares during the last quarter. Finally, Romano Brothers AND Company increased its holdings in Corteva by 12.2% in the 4th quarter. Romano Brothers AND Company now owns 4,778 shares of the company’s stock worth $229,000 after acquiring an additional 518 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CTVA. BNP Paribas raised Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price objective for the company in a report on Friday, February 2nd. Wolfe Research began coverage on Corteva in a report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price objective for the company. UBS Group decreased their price objective on Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Barclays lifted their target price on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Finally, Loop Capital raised Corteva from a “hold” rating to a “buy” rating and lifted their target price for the company from $57.00 to $65.00 in a report on Monday, February 12th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.29.

Corteva Trading Up 0.9 %

CTVA stock traded up $0.49 during midday trading on Friday, hitting $54.45. The company had a trading volume of 658,509 shares, compared to its average volume of 3,593,560. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $62.10. The stock’s 50 day moving average price is $55.20 and its 200 day moving average price is $50.26. The stock has a market cap of $38.05 billion, a price-to-earnings ratio of 52.90, a PEG ratio of 1.40 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.09. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The firm had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the firm earned $0.16 earnings per share. As a group, equities research analysts expect that Corteva, Inc. will post 2.84 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.16 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 1.18%. Corteva’s payout ratio is 62.75%.

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.