Corning Incorporated $GLW Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. cut its stake in shares of Corning Incorporated (NYSE:GLW) by 8.9% in the second quarter, Holdings Channel.com reports. The fund owned 8,640 shares of the electronics maker’s stock after selling 849 shares during the period. Harbour Investments Inc.’s holdings in Corning were worth $454,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GLW. REAP Financial Group LLC increased its position in shares of Corning by 191.5% during the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 339 shares during the last quarter. Investment Management Corp VA ADV grew its holdings in shares of Corning by 165.9% in the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 463 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Corning by 90.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 353 shares in the last quarter. Banque Transatlantique SA acquired a new position in shares of Corning in the first quarter valued at approximately $34,000. Finally, Resources Management Corp CT ADV grew its holdings in shares of Corning by 66.7% in the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 300 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GLW shares. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. Mizuho lifted their price objective on shares of Corning from $74.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Morgan Stanley lifted their price objective on shares of Corning from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, October 10th. Argus restated a “buy” rating and issued a $68.00 price objective on shares of Corning in a report on Wednesday, July 30th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Corning in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Corning Stock Up 1.0%

Shares of Corning stock opened at $85.31 on Tuesday. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $87.78. The company has a 50 day moving average of $75.74 and a 200 day moving average of $59.06. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $73.08 billion, a P/E ratio of 90.75, a P/E/G ratio of 1.89 and a beta of 1.14.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, research analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s payout ratio is currently 119.15%.

Insider Buying and Selling at Corning

In other news, EVP Lewis A. Steverson sold 16,646 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the completion of the sale, the executive vice president owned 39,759 shares in the company, valued at approximately $2,473,804.98. The trade was a 29.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael Paul O’day sold 14,879 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total transaction of $927,854.44. Following the sale, the senior vice president owned 35,743 shares of the company’s stock, valued at $2,228,933.48. This represents a 29.39% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,671 shares of company stock worth $11,816,899. 0.32% of the stock is owned by insiders.

About Corning

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.