Huntington National Bank Sells 18,147 Shares of Corteva, Inc. (NYSE:CTVA)

Huntington National Bank trimmed its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 5.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 334,932 shares of the company's stock after selling 18,147 shares during the quarter. Huntington National Bank's holdings in Corteva were worth $19,691,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Anomaly Capital Management LP bought a new position in shares of Corteva in the second quarter worth approximately $188,578,000. Vaughan Nelson Investment Management L.P. grew its holdings in Corteva by 392.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company's stock worth $220,274,000 after acquiring an additional 3,254,126 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Corteva by 28.4% in the second quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company's stock valued at $369,106,000 after acquiring an additional 1,514,954 shares during the period. Panagora Asset Management Inc. raised its stake in shares of Corteva by 700.2% during the second quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company's stock valued at $70,230,000 after acquiring an additional 1,139,297 shares during the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Corteva by 155.7% during the second quarter. Natixis Advisors LLC now owns 1,694,214 shares of the company's stock worth $91,389,000 after purchasing an additional 1,031,678 shares during the period. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Trading Down 0.1 %

NYSE:CTVA traded down $0.05 during midday trading on Thursday, hitting $57.61. The stock had a trading volume of 647,712 shares, compared to its average volume of 3,249,306. The stock has a 50-day moving average of $58.29 and a 200 day moving average of $55.65. The company has a market capitalization of $39.59 billion, a price-to-earnings ratio of 58.27, a PEG ratio of 1.83 and a beta of 0.77. Corteva, Inc. has a one year low of $43.89 and a one year high of $63.75. 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 Announces Dividend

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

Analysts Set New Price Targets

CTVA has been the subject of a number of recent analyst reports. Bank of America raised Corteva from a "neutral" rating to a "buy" rating and upped their price target for the company from $59.00 to $67.00 in a research report on Wednesday, October 16th. JPMorgan Chase & Co. dropped their price target on Corteva from $57.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, August 2nd. Morgan Stanley reaffirmed an "overweight" rating and issued a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. Oppenheimer reaffirmed an "outperform" rating and set a $70.00 price objective (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. Finally, Citigroup started coverage on Corteva in a research note on Wednesday, October 23rd. They issued a "buy" rating and a $68.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.