HighTower Advisors LLC Cuts Position in Corning Incorporated $GLW

HighTower Advisors LLC trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 11.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 456,197 shares of the electronics maker’s stock after selling 61,733 shares during the period. HighTower Advisors LLC owned approximately 0.05% of Corning worth $37,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of GLW. Strengthening Families & Communities LLC bought a new stake in shares of Corning in the 3rd quarter worth about $27,000. Total Investment Management Inc. purchased a new stake in Corning during the second quarter valued at approximately $28,000. Cornerstone Planning Group LLC boosted its holdings in shares of Corning by 58.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock worth $30,000 after purchasing an additional 124 shares during the period. Financial Management Professionals Inc. increased its position in shares of Corning by 111.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Corning in the second quarter worth $36,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on GLW. JPMorgan Chase & Co. increased their price target on Corning from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Susquehanna increased their target price on Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a research note on Thursday, January 29th. Citigroup boosted their target price on shares of Corning from $102.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Oppenheimer set a $120.00 price target on shares of Corning in a report on Thursday, January 29th. Finally, Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.25.

Corning Trading Down 2.5%

Shares of GLW stock opened at $130.16 on Wednesday. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $136.82. The company has a market cap of $111.67 billion, a price-to-earnings ratio of 70.74, a PEG ratio of 2.31 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04. The stock has a 50 day simple moving average of $99.36 and a 200-day simple moving average of $86.00.

Corning (NYSE:GLW) last issued its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. Corning’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company posted $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, equities research analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, February 27th. Corning’s payout ratio is currently 60.87%.

Insiders Place Their Bets

In related news, EVP Lewis A. Steverson sold 15,366 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total value of $2,000,960.52. Following the transaction, the executive vice president directly owned 3,461 shares in the company, valued at approximately $450,691.42. This represents a 81.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Avery H. Nelson III sold 1,583 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $128.74, for a total value of $203,795.42. Following the completion of the transaction, the chief operating officer owned 59,788 shares of the company’s stock, valued at $7,697,107.12. The trade was a 2.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 95,687 shares of company stock valued at $11,249,008. Insiders own 0.40% of the company’s stock.

About Corning

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.