Armstrong Fleming & Moore Inc Purchases Shares of 2,698 Corteva, Inc. $CTVA

Armstrong Fleming & Moore Inc acquired a new stake in Corteva, Inc. (NYSE:CTVA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,698 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Corteva by 0.8% in the first quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock worth $5,022,736,000 after purchasing an additional 639,799 shares during the period. Independent Franchise Partners LLP lifted its position in Corteva by 1.8% in the first quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company’s stock worth $1,056,299,000 after purchasing an additional 288,792 shares during the period. Northern Trust Corp lifted its position in Corteva by 1.0% in the first quarter. Northern Trust Corp now owns 11,759,755 shares of the company’s stock worth $740,041,000 after purchasing an additional 110,865 shares during the period. Nuveen LLC bought a new position in Corteva in the first quarter worth $640,333,000. Finally, WCM Investment Management LLC lifted its position in Corteva by 1.4% in the first quarter. WCM Investment Management LLC now owns 6,978,187 shares of the company’s stock worth $426,088,000 after purchasing an additional 98,770 shares during the period. 81.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CTVA. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price for the company in a research report on Thursday, October 2nd. Jefferies Financial Group cut their price objective on Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. KeyCorp reissued a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. Wall Street Zen raised Corteva from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Zacks Research raised Corteva from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $80.13.

Corteva Stock Performance

Shares of NYSE:CTVA opened at $63.10 on Thursday. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The firm has a market cap of $42.85 billion, a PE ratio of 30.78, a price-to-earnings-growth ratio of 1.48 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. The business has a fifty day moving average of $70.75 and a 200-day moving average of $68.90.

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

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. This is an increase from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. Corteva’s dividend payout ratio (DPR) is 35.12%.

Insider Transactions at Corteva

In other news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction dated 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 transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. The trade was a 43.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.14% of the company’s stock.

Corteva 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.