PNC Financial Services Group Inc. Boosts Stock Holdings in Corning Incorporated $GLW

PNC Financial Services Group Inc. raised its position in shares of Corning Incorporated (NYSE:GLW) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 603,656 shares of the electronics maker’s stock after acquiring an additional 5,810 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Corning were worth $49,518,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Corning during the second quarter worth approximately $534,936,000. WCM Investment Management LLC acquired a new stake in Corning during the 3rd quarter worth $676,931,000. Voya Investment Management LLC grew its holdings in shares of Corning by 748.0% during the third quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock worth $260,014,000 after buying an additional 2,795,948 shares in the last quarter. Raymond James Financial Inc. grew its holdings in shares of Corning by 93.0% during the second quarter. Raymond James Financial Inc. now owns 3,407,608 shares of the electronics maker’s stock worth $179,206,000 after buying an additional 1,641,558 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Corning by 1.6% in the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after buying an additional 1,582,895 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Transactions at Corning

In other news, EVP Lewis A. Steverson sold 15,366 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP John Z. Zhang sold 1,531 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $133.75, for a total transaction of $204,771.25. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 95,687 shares of company stock worth $11,249,008 in the last 90 days. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Oppenheimer set a $120.00 price target on shares of Corning in a research report on Thursday, January 29th. JPMorgan Chase & Co. raised their target price on shares of Corning from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Morgan Stanley boosted their target price on Corning from $98.00 to $103.00 and gave the stock an “equal weight” rating in a report on Thursday, January 29th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Finally, Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.25.

Corning Stock Up 1.5%

GLW stock opened at $133.52 on Tuesday. Corning Incorporated has a one year low of $37.31 and a one year high of $136.82. The firm has a market cap of $114.55 billion, a PE ratio of 72.56, a PEG ratio of 2.31 and a beta of 1.13. The firm’s 50 day moving average price is $98.58 and its 200-day moving average price is $85.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59.

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

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s dividend payout ratio (DPR) is presently 60.87%.

Corning Company 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.