Corning Incorporated $GLW Shares Purchased by Private Trust Co. NA

Private Trust Co. NA lifted its position in Corning Incorporated (NYSE:GLW) by 15.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,182 shares of the electronics maker’s stock after acquiring an additional 1,620 shares during the quarter. Private Trust Co. NA’s holdings in Corning were worth $641,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GLW. Amundi increased its stake in Corning by 64.3% during the first quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock valued at $271,237,000 after purchasing an additional 2,507,797 shares during the last quarter. Nuveen LLC acquired a new position in shares of Corning in the 1st quarter valued at about $104,789,000. Kingstone Capital Partners Texas LLC bought a new stake in shares of Corning during the 2nd quarter valued at about $92,560,000. Robeco Institutional Asset Management B.V. raised its stake in Corning by 185.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker’s stock worth $94,736,000 after acquiring an additional 1,170,992 shares during the period. Finally, Deutsche Bank AG lifted its holdings in Corning by 37.1% in the first quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock worth $175,603,000 after acquiring an additional 1,037,875 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GLW has been the subject of several recent research reports. Barclays upped their target price on Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Oppenheimer reissued an “outperform” rating and issued a $72.00 price target (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Corning in a research report on Wednesday, October 8th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $75.00 price target (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the transaction, the chief executive officer directly owned 809,295 shares in the company, valued at $52,757,941.05. This represents a 9.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Lewis A. Steverson sold 16,646 shares of Corning stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total value of $1,035,714.12. Following the completion of the sale, the executive vice president directly owned 39,759 shares in the company, valued at approximately $2,473,804.98. This represents a 29.51% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 181,671 shares of company stock worth $11,816,899. 0.40% of the stock is currently owned by corporate insiders.

Corning Price Performance

Shares of Corning stock opened at $84.49 on Friday. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $87.78. The stock has a market capitalization of $72.38 billion, a price-to-earnings ratio of 89.88, a P/E/G ratio of 1.89 and a beta of 1.14. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average price is $75.33 and its two-hundred day moving average price is $58.62.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter last year, the business earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. Corning’s dividend payout ratio (DPR) is presently 119.15%.

Corning Company 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.