Corning Incorporated (NYSE:GLW) SVP Michael Alan Bell Sells 2,209 Shares of Stock

Corning Incorporated (NYSE:GLW) SVP Michael Alan Bell sold 2,209 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $49.87, for a total transaction of $110,162.83. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Corning Stock Performance

Shares of GLW opened at $52.11 on Friday. The company has a 50-day moving average of $48.71 and a two-hundred day moving average of $45.63. The stock has a market cap of $44.61 billion, a price-to-earnings ratio of 89.84, a PEG ratio of 1.35 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05. Corning Incorporated has a one year low of $30.72 and a one year high of $55.33.

Corning (NYSE:GLW) last posted its quarterly earnings data 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 net margin of 3.86% and a return on equity of 15.01%. On average, equities research analysts expect that Corning Incorporated will post 2.3 earnings per share for the current year.

Institutional Investors Weigh In On Corning

Institutional investors have recently bought and sold shares of the business. Sound Income Strategies LLC lifted its position in shares of Corning by 76.7% in the fourth quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 227 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Corning in the 4th quarter worth approximately $25,000. Asset Planning Inc acquired a new stake in shares of Corning during the 4th quarter valued at $29,000. City Holding Co. grew its holdings in shares of Corning by 545.5% during the 3rd quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock valued at $32,000 after acquiring an additional 600 shares in the last quarter. Finally, Rosenberg Matthew Hamilton increased its stake in shares of Corning by 202.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 500 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GLW has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Corning from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. UBS Group increased their price objective on shares of Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Hsbc Global Res raised Corning from a “hold” rating to a “strong-buy” rating in a report on Thursday. Oppenheimer reaffirmed an “outperform” rating and set a $58.00 price target (up from $51.00) on shares of Corning in a research note on Wednesday, October 30th. Finally, StockNews.com raised Corning from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and an average price target of $53.00.

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.