Corning Incorporated $GLW Holdings Trimmed by Northstar Advisory Group LLC

Northstar Advisory Group LLC reduced its position in Corning Incorporated (NYSE:GLW) by 17.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 74,530 shares of the electronics maker’s stock after selling 15,816 shares during the quarter. Corning makes up about 2.5% of Northstar Advisory Group LLC’s holdings, making the stock its 8th largest holding. Northstar Advisory Group LLC’s holdings in Corning were worth $6,114,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after acquiring an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. acquired a new stake in Corning in the first quarter valued at about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 purchased a new stake in Corning in the 2nd quarter valued at approximately $401,000. Finally, Park Avenue Securities LLC acquired a new position in Corning during the 2nd quarter worth approximately $618,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In other Corning news, SVP Stefan Becker sold 12,100 shares of Corning 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 transaction, the senior vice president owned 5,049 shares in the company, valued at approximately $460,872.72. The trade was a 70.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lewis A. Steverson sold 23,142 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the completion of the sale, the executive vice president directly owned 17,575 shares in the company, valued at $1,565,053.75. This trade represents a 56.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 156,135 shares of company stock valued at $14,088,769. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on GLW shares. UBS Group reissued a “buy” rating and issued a $109.00 price target (up from $100.00) on shares of Corning in a report on Friday, November 21st. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a report on Friday. Mizuho set a $97.00 target price on shares of Corning in a research report on Wednesday, October 29th. JPMorgan Chase & Co. increased their price target on shares of Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Citigroup raised their price objective on shares of Corning from $99.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and an average target price of $93.36.

Corning Stock Up 1.9%

Corning stock opened at $95.06 on Tuesday. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $96.64. The firm has a market capitalization 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. The stock’s fifty day moving average is $87.91 and its two-hundred day moving average is $78.88. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.56.

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

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.