Redhawk Wealth Advisors Inc. Boosts Holdings in Corning Incorporated $GLW

Redhawk Wealth Advisors Inc. increased its stake in shares of Corning Incorporated (NYSE:GLW) by 178.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,058 shares of the electronics maker’s stock after acquiring an additional 9,017 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Corning were worth $3,591,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Merit Financial Group LLC boosted its stake in Corning by 16.9% during the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock worth $3,940,000 after purchasing an additional 6,493 shares during the period. Security National Bank raised its holdings in shares of Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after buying an additional 56,056 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in shares of Corning by 36.2% in the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock valued at $12,567,000 after buying an additional 24,589 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Corning by 1.2% during the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock worth $121,483,000 after buying an additional 10,591 shares during the period. Finally, Herbst Group LLC acquired a new stake in shares of Corning during the second quarter worth about $4,474,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Transactions at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares in the company, valued at $18,138,016. This trade represents a 22.49% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GLW shares. Oppenheimer dropped their price target on Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. UBS Group reissued a “buy” rating and issued a $196.00 target price on shares of Corning in a report on Wednesday, July 29th. Bank of America upped their price target on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Morgan Stanley decreased their price target on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Finally, Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and lowered their price objective for the company from $205.00 to $175.00 in a research report on Sunday, August 2nd. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and an average price target of $174.08.

Corning Trading Down 4.8%

Shares of GLW stock opened at $157.76 on Tuesday. The business’s fifty day moving average price is $179.35 and its 200 day moving average price is $159.98. The firm has a market capitalization of $135.89 billion, a PE ratio of 72.04, a P/E/G ratio of 2.12 and a beta of 1.14. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. Corning Incorporated has a 1-year low of $63.37 and a 1-year high of $271.78.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business’s revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, sell-side analysts forecast that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is presently 51.14%.

About Corning

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.