ING Groep NV Decreases Position in Corteva, Inc. (NYSE:CTVA)

ING Groep NV decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 47.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 175,582 shares of the company’s stock after selling 159,105 shares during the period. ING Groep NV’s holdings in Corteva were worth $10,322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CTVA. Metis Global Partners LLC increased its holdings in shares of Corteva by 20.5% in the 3rd quarter. Metis Global Partners LLC now owns 63,050 shares of the company’s stock worth $3,707,000 after purchasing an additional 10,738 shares in the last quarter. KBC Group NV boosted its position in shares of Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after buying an additional 815,135 shares during the last quarter. Pinnacle Financial Partners Inc increased its holdings in Corteva by 14.6% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 4,484 shares of the company’s stock worth $264,000 after buying an additional 570 shares in the last quarter. Empower Advisory Group LLC raised its position in Corteva by 10.3% in the 3rd quarter. Empower Advisory Group LLC now owns 4,998 shares of the company’s stock worth $294,000 after buying an additional 468 shares during the last quarter. Finally, Aptus Capital Advisors LLC lifted its stake in Corteva by 7.2% during the 3rd quarter. Aptus Capital Advisors LLC now owns 4,503 shares of the company’s stock valued at $265,000 after acquiring an additional 303 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

NYSE:CTVA opened at $57.40 on Friday. The business’s 50-day simple moving average is $58.29 and its two-hundred day simple moving average is $55.65. Corteva, Inc. has a 52 week low of $43.89 and a 52 week high of $63.75. The stock has a market cap of $39.45 billion, a PE ratio of 57.98, a P/E/G ratio of 1.85 and a beta of 0.77. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CTVA. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. KeyCorp lowered 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. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $59.00 to $67.00 in a report on Wednesday, October 16th. Finally, 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 report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.68.

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.