Corteva, Inc. (NYSE:CTVA) Shares Sold by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. lowered its position in shares of Corteva, Inc. (NYSE:CTVA) by 4.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,991 shares of the company’s stock after selling 3,060 shares during the period. Goelzer Investment Management Inc.’s holdings in Corteva were worth $4,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Capital International Investors boosted its stake in Corteva by 2.6% during the first quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock worth $1,524,648,000 after buying an additional 678,722 shares during the period. Northern Trust Corp increased its holdings in Corteva by 2.5% in the 4th quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock valued at $614,133,000 after purchasing an additional 310,012 shares during the last quarter. Van ECK Associates Corp lifted its stake in Corteva by 7.2% during the first quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock worth $527,409,000 after purchasing an additional 617,030 shares in the last quarter. Harris Associates L P lifted its stake in Corteva by 87.1% during the fourth quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after purchasing an additional 4,194,981 shares in the last quarter. Finally, Putnam Investments LLC boosted its position in shares of Corteva by 12.9% during the fourth quarter. Putnam Investments LLC now owns 8,950,382 shares of the company’s stock worth $428,902,000 after buying an additional 1,021,733 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. OTR Global reiterated a “negative” rating on shares of Corteva in a report on Friday, June 7th. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. KeyCorp dropped their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. cut their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Wells Fargo & Company decreased their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus price target of $61.94.

Corteva Stock Up 0.4 %

CTVA traded up $0.24 on Friday, reaching $58.33. The company’s stock had a trading volume of 1,326,973 shares, compared to its average volume of 3,309,797. The company has a market capitalization of $40.65 billion, a price-to-earnings ratio of 73.85, a P/E/G ratio of 1.68 and a beta of 0.77. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $59.08. 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 50 day moving average of $55.39 and a two-hundred day moving average of $55.00.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. During the same quarter in the prior year, the business posted $1.60 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, analysts forecast that Corteva, Inc. will post 2.69 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.17 dividend. This is an increase from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Tuesday, September 3rd. Corteva’s payout ratio is presently 86.08%.

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.