Dakota Wealth Management Has $1.76 Million Holdings in Corning Incorporated (NYSE:GLW)

Dakota Wealth Management trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 10.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 37,004 shares of the electronics maker’s stock after selling 4,475 shares during the period. Dakota Wealth Management’s holdings in Corning were worth $1,758,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. City Holding Co. boosted its stake in shares of Corning by 545.5% during the third quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock valued at $32,000 after purchasing an additional 600 shares in the last quarter. Rosenberg Matthew Hamilton boosted its stake in shares of Corning by 202.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 500 shares in the last quarter. Cassady Schiller Wealth Management LLC acquired a new stake in shares of Corning during the third quarter valued at about $39,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Corning during the third quarter valued at about $40,000. Finally, Global Trust Asset Management LLC boosted its stake in shares of Corning by 2,250.0% during the third quarter. Global Trust Asset Management LLC now owns 940 shares of the electronics maker’s stock valued at $42,000 after purchasing an additional 900 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Morgan Stanley lifted their price target on Corning from $39.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Oppenheimer restated an “outperform” rating and set a $58.00 price objective (up from $51.00) on shares of Corning in a research report on Wednesday, October 30th. Barclays raised their price objective on Corning from $40.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on Corning from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

Corning Stock Down 0.1 %

Shares of NYSE:GLW opened at $53.96 on Friday. The stock has a market cap of $46.20 billion, a price-to-earnings ratio of 317.40, a PEG ratio of 1.39 and a beta of 1.04. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12-month low of $30.31 and a 12-month high of $54.53. The business’s 50 day moving average is $48.18 and its 200 day moving average is $45.36.

Corning (NYSE:GLW) last posted its quarterly earnings data 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 return on equity of 13.45% and a net margin of 1.24%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts forecast that Corning Incorporated will post 1.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Corning news, SVP John P. Bayne, Jr. sold 5,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $48.39, for a total value of $241,950.00. Following the transaction, the senior vice president now owns 6,700 shares of the company’s stock, 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 on 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 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.