Ipswich Investment Management Co. Inc. Has $372,000 Holdings in Corteva, Inc. (NYSE:CTVA)

Ipswich Investment Management Co. Inc. lowered its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 32.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,334 shares of the company’s stock after selling 3,025 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Corteva were worth $372,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Capital International Investors raised its holdings in shares of Corteva by 2.6% during the first quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock valued at $1,524,648,000 after purchasing an additional 678,722 shares during the period. Van ECK Associates Corp raised its stake in shares of Corteva by 2.5% during the 3rd quarter. Van ECK Associates Corp now owns 8,902,675 shares of the company’s stock worth $541,194,000 after purchasing an additional 213,872 shares during the period. Bank of New York Mellon Corp boosted its stake in 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 last quarter. Legal & General Group Plc lifted its stake in Corteva by 0.9% in the second quarter. Legal & General Group Plc now owns 6,741,972 shares of the company’s stock valued at $363,662,000 after purchasing an additional 61,127 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Corteva by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,649,450 shares of the company’s stock worth $250,786,000 after acquiring an additional 224,423 shares during the period. 81.54% of the stock is owned by institutional investors.

Corteva Stock Down 3.9 %

Shares of Corteva stock opened at $55.19 on Friday. 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, Inc. has a twelve month low of $43.89 and a twelve month high of $63.75. The company has a market cap of $37.93 billion, a price-to-earnings ratio of 55.74, a price-to-earnings-growth ratio of 1.85 and a beta of 0.77. The company’s 50 day moving average is $58.34 and its 200 day moving average is $55.66.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.17 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. KeyCorp cut their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Citigroup assumed coverage on Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price objective on the stock. Barclays lifted their target price on shares of Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Finally, UBS Group upped their price target on Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.68.

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.