Aaron Wealth Advisors LLC Sells 455 Shares of Corteva, Inc. (NYSE:CTVA)

Aaron Wealth Advisors LLC lowered its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 8.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,215 shares of the company’s stock after selling 455 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Corteva were worth $297,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Advisors Ltd. LLC lifted its holdings in shares of Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares during the last quarter. First Financial Corp IN purchased a new position in shares of Corteva in the 4th quarter worth approximately $35,000. Bangor Savings Bank boosted its holdings in shares of Corteva by 34.7% in the 3rd quarter. Bangor Savings Bank now owns 935 shares of the company’s stock worth $55,000 after purchasing an additional 241 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Corteva during the 3rd quarter valued at $56,000. Finally, Pinnacle Bancorp Inc. lifted its position in Corteva by 26.1% in the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock worth $57,000 after buying an additional 199 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CTVA. Morgan Stanley reissued an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. Oppenheimer reissued an “outperform” rating and issued a $70.00 price objective (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. Citigroup dropped their target price on Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Bank of America increased their price target on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, UBS Group dropped their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $65.47.

Corteva Stock Up 1.1 %

Shares of Corteva stock opened at $62.30 on Tuesday. Corteva, Inc. has a 1 year low of $44.01 and a 1 year high of $64.20. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. The stock has a market cap of $42.82 billion, a price-to-earnings ratio of 62.93, a PEG ratio of 1.49 and a beta of 0.77. The firm’s 50-day moving average is $58.96 and its two-hundred day moving average is $57.12.

Corteva announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Monday, December 2nd. Corteva’s payout ratio is 68.69%.

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.