Corning Incorporated (NYSE:GLW) Stock Position Lifted by Northstar Advisory Group LLC

Northstar Advisory Group LLC boosted its position in shares of Corning Incorporated (NYSE:GLW) by 258.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,808 shares of the electronics maker’s stock after acquiring an additional 89,268 shares during the period. Corning accounts for 3.0% of Northstar Advisory Group LLC’s holdings, making the stock its 7th biggest position. Northstar Advisory Group LLC’s holdings in Corning were worth $5,883,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. City Holding Co. lifted its holdings in shares of Corning by 545.5% in the 3rd quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock valued at $32,000 after buying an additional 600 shares during the period. Cassady Schiller Wealth Management LLC purchased a new stake in shares of Corning in the third quarter valued at approximately $39,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Corning during the 3rd quarter worth approximately $40,000. Global Trust Asset Management LLC lifted its position in shares of Corning by 2,250.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 940 shares of the electronics maker’s stock valued at $42,000 after buying an additional 900 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in Corning in the 3rd quarter worth $45,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Trading Down 1.1 %

Shares of Corning stock traded down $0.50 during trading hours on Monday, hitting $46.62. The company’s stock had a trading volume of 4,505,657 shares, compared to its average volume of 3,939,293. The firm has a fifty day moving average of $47.91 and a 200-day moving average of $44.73. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.66. The stock has a market cap of $39.92 billion, a price-to-earnings ratio of 274.24, a P/E/G ratio of 1.54 and a beta of 1.04. Corning Incorporated has a twelve month low of $29.71 and a twelve month high of $51.03.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. Corning had a net margin of 1.24% and a return on equity of 13.45%. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the firm posted $0.45 earnings per share. Corning’s revenue was up 6.9% compared to the same quarter last year. Research analysts forecast that Corning Incorporated will post 1.95 EPS for the current year.

Insiders Place Their Bets

In related news, SVP John P. Bayne, Jr. sold 8,876 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $49.09, for a total transaction of $435,722.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP John P. Bayne, Jr. sold 5,000 shares of Corning stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $48.39, for a total value of $241,950.00. Following the completion of the transaction, the senior vice president now directly owns 6,700 shares of the company’s stock, valued at approximately $324,213. This represents a 42.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GLW has been the topic of several recent analyst reports. Barclays increased their price objective on shares of Corning from $40.00 to $53.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Morgan Stanley lifted their price objective on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Bank of America increased their target price on Corning from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, September 20th. JPMorgan Chase & Co. lifted their price target on Corning from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group increased their price objective on Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.77.

Corning Company Profile

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.