OLD National Bancorp IN Has $1.56 Million Stock Holdings in Corteva, Inc. $CTVA

OLD National Bancorp IN boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 47.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 20,964 shares of the company’s stock after buying an additional 6,765 shares during the period. OLD National Bancorp IN’s holdings in Corteva were worth $1,562,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Maryland Capital Advisors Inc. acquired a new position in Corteva in the 2nd quarter worth $29,000. Valley National Advisers Inc. grew its holdings in shares of Corteva by 85.9% during the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock worth $33,000 after buying an additional 243 shares in the last quarter. DHJJ Financial Advisors Ltd. raised its position in Corteva by 132.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after buying an additional 300 shares during the last quarter. Richardson Capital Management LLC bought a new stake in Corteva in the 1st quarter valued at approximately $37,000. Finally, von Borstel & Associates Inc. acquired a new position in Corteva during the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barclays upgraded shares of Corteva from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corteva in a research report on Saturday, September 27th. Deutsche Bank Aktiengesellschaft raised their price objective on Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 15th. Zacks Research upgraded Corteva from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Wall Street Zen upgraded Corteva from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.27.

Corteva Price Performance

NYSE:CTVA opened at $64.30 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The stock’s 50 day moving average price is $71.08 and its two-hundred day moving average price is $68.97. The firm has a market capitalization of $43.67 billion, a price-to-earnings ratio of 31.37, a P/E/G ratio of 1.43 and a beta of 0.76.

Corteva (NYSE:CTVA) last posted its quarterly 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. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The business had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter in the prior year, the business earned $1.83 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

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

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the transaction, the executive vice president directly owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This represents a 43.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

About Corteva

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.