Corning Incorporated $GLW Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC decreased its holdings in shares of Corning Incorporated (NYSE:GLW) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,086 shares of the electronics maker’s stock after selling 2,025 shares during the quarter. Carret Asset Management LLC’s holdings in Corning were worth $3,633,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Davis Investment Partners LLC acquired a new stake in shares of Corning in the second quarter valued at $251,000. Central Pacific Bank Trust Division grew its stake in shares of Corning by 23.6% in the second quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock valued at $3,838,000 after buying an additional 13,920 shares in the last quarter. Strs Ohio acquired a new stake in shares of Corning in the first quarter valued at $27,219,000. Motley Fool Asset Management LLC grew its stake in shares of Corning by 10.5% in the second quarter. Motley Fool Asset Management LLC now owns 44,037 shares of the electronics maker’s stock valued at $2,316,000 after buying an additional 4,183 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Corning by 4,346.5% in the first quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker’s stock valued at $7,048,000 after buying an additional 150,521 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GLW. Morgan Stanley set a $82.00 price objective on Corning in a research note on Wednesday. Mizuho set a $97.00 price objective on Corning in a research note on Wednesday. Wolfe Research began coverage on Corning in a research note on Tuesday, July 8th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. lifted their price objective on Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Oppenheimer set a $100.00 target price on Corning and gave the stock an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and an average price target of $90.82.

Corning Trading Up 4.5%

GLW opened at $90.31 on Thursday. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $91.93. The stock has a market capitalization of $77.36 billion, a price-to-earnings ratio of 57.16, a PEG ratio of 1.93 and a beta of 1.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 0.93. The business has a fifty day moving average price of $78.79 and a 200 day moving average price of $61.32.

Corning (NYSE:GLW) last released its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. Corning had a return on equity of 18.12% and a net margin of 9.16%.The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the firm posted $0.54 EPS. Corning’s revenue for the quarter was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Sell-side analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s payout ratio is 119.15%.

Insider Transactions at Corning

In other Corning news, CEO Wendell P. Weeks sold 82,103 shares of Corning stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the sale, the chief executive officer directly owned 809,295 shares of the company’s stock, valued at $52,757,941.05. The trade was a 9.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jaymin Amin sold 17,721 shares of Corning stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total value of $1,367,706.78. Following the sale, the senior vice president directly owned 88,722 shares of the company’s stock, valued at $6,847,563.96. This trade represents a 16.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is owned by insiders.

Corning Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.