Corning Incorporated (NYSE:GLW) Shares Sold by Appleton Partners Inc. MA

Appleton Partners Inc. MA decreased its holdings in Corning Incorporated (NYSE:GLW) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,499 shares of the electronics maker’s stock after selling 327 shares during the period. Appleton Partners Inc. MA’s holdings in Corning were worth $2,020,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of GLW. Global X Japan Co. Ltd. acquired a new stake in shares of Corning in the fourth quarter valued at approximately $40,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Corning by 13.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 91,959 shares of the electronics maker’s stock valued at $4,370,000 after acquiring an additional 11,183 shares during the last quarter. Socha Financial Group LLC grew its holdings in shares of Corning by 13.8% in the fourth quarter. Socha Financial Group LLC now owns 59,962 shares of the electronics maker’s stock valued at $2,849,000 after purchasing an additional 7,264 shares during the period. Greenspring Advisors LLC acquired a new stake in Corning during the fourth quarter worth about $204,000. Finally, Financial Advocates Investment Management raised its stake in Corning by 6.2% during the fourth quarter. Financial Advocates Investment Management now owns 10,362 shares of the electronics maker’s stock worth $492,000 after purchasing an additional 609 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GLW. UBS Group increased their price target on shares of Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their target price on Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays decreased their price target on Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley raised their price objective on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $58.00 target price (up previously from $51.00) on shares of Corning in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Corning Stock Performance

Shares of GLW stock opened at $52.99 on Friday. Corning Incorporated has a 12 month low of $30.72 and a 12 month high of $55.33. The company has a current ratio of 1.62, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a market cap of $45.37 billion, a P/E ratio of 91.36, a PEG ratio of 1.55 and a beta of 1.03. The firm has a fifty day moving average price of $49.13 and a 200 day moving average price of $45.88.

Corning (NYSE:GLW) last issued its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. Corning had a return on equity of 15.10% and a net margin of 3.86%. Sell-side analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Corning

In other news, SVP John P. Bayne, Jr. sold 5,000 shares of Corning stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $48.39, for a total transaction of $241,950.00. Following the sale, the senior vice president now owns 6,700 shares in the company, valued at approximately $324,213. The trade was a 42.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John P. Bayne, Jr. sold 8,876 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $49.09, for a total value of $435,722.84. The disclosure for this sale can be found here. Insiders have sold 46,085 shares of company stock worth $2,345,436 over the last three months. Insiders own 0.40% of the company’s stock.

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.