Corning Incorporated $GLW is Northstar Advisory Group LLC’s 8th Largest Position

Northstar Advisory Group LLC decreased its stake in shares of Corning Incorporated (NYSE:GLW) by 17.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,530 shares of the electronics maker’s stock after selling 15,816 shares during the quarter. Corning makes up 2.5% of Northstar Advisory Group LLC’s investment portfolio, making the stock its 8th biggest holding. Northstar Advisory Group LLC’s holdings in Corning were worth $6,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in GLW. Brighton Jones LLC raised its holdings in Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after acquiring an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new stake in shares of Corning in the 1st quarter valued at approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after purchasing an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Corning in the 2nd quarter valued at $401,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of Corning during the 2nd quarter worth $618,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

GLW has been the topic of a number of analyst reports. Mizuho set a $97.00 price target on Corning in a research note on Wednesday, October 29th. Morgan Stanley increased their price objective on Corning from $82.00 to $98.00 and gave the company an “equal weight” rating in a report on Wednesday, December 17th. Barclays boosted their target price on Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. UBS Group reiterated a “buy” rating and issued a $109.00 price target (up from $100.00) on shares of Corning in a research note on Friday, November 21st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research report on Monday, December 29th. One 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.36.

Corning Trading Up 1.9%

GLW opened at $95.06 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $96.64. The business’s 50 day moving average is $87.91 and its two-hundred day moving average is $78.88. The firm has a market cap of $81.50 billion, a price-to-earnings ratio of 60.16, a price-to-earnings-growth ratio of 1.64 and a beta of 1.13.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.The company’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 earnings per share. On average, research analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Insider Buying and Selling at Corning

In other news, SVP Stefan Becker sold 12,100 shares of the stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the completion of the sale, the senior vice president owned 5,049 shares in the company, valued at approximately $460,872.72. This represents a 70.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric S. Musser sold 100,000 shares of the business’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total value of $9,017,000.00. Following the completion of the transaction, the insider owned 44,926 shares in the company, valued at $4,050,977.42. This trade represents a 69.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 156,135 shares of company stock valued at $14,088,769. Company insiders own 0.32% of the company’s stock.

Corning Profile

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.