Rep. Josh Gottheimer Purchases Shares of Corning Incorporated (NYSE:GLW)

Representative Josh Gottheimer (D-New Jersey) recently bought shares of Corning Incorporated (NYSE:GLW). In a filing disclosed on February 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in Corning stock on January 30th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/31/2025.
• Sold $1,001 – $15,000 in shares of Arista Networks (NYSE:ANET) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Visa (NYSE:V) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Twilio (NYSE:TWLO) on 1/31/2025.
• Sold $1,001 – $15,000 in shares of ICF International (NASDAQ:ICFI) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Mastercard (NYSE:MA) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Visa (NYSE:V) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of 3M (NYSE:MMM) on 1/30/2025.

Corning Stock Down 0.0 %

NYSE:GLW traded down $0.03 during mid-day trading on Wednesday, hitting $52.38. 788,097 shares of the company’s stock traded hands, compared to its average volume of 5,778,300. The company has a fifty day moving average of $49.36 and a 200 day moving average of $46.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.62. Corning Incorporated has a twelve month low of $30.72 and a twelve month high of $55.33. The company has a market capitalization of $44.84 billion, a P/E ratio of 90.18, a P/E/G ratio of 1.55 and a beta of 1.03.

Corning (NYSE:GLW) last posted its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Corning had a return on equity of 15.10% and a net margin of 3.86%. On average, analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Insider Activity at Corning

In related news, COO Eric S. Musser sold 30,000 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $51.92, for a total transaction of $1,557,600.00. Following the completion of the sale, the chief operating officer now owns 152,944 shares in the company, valued at $7,940,852.48. This represents a 16.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John P. Bayne, Jr. sold 8,876 shares of Corning stock in a transaction on Monday, November 25th. The shares were sold at an average price of $49.09, for a total transaction of $435,722.84. The disclosure for this sale can be found here. Insiders sold a total of 46,085 shares of company stock valued at $2,345,436 over the last ninety days. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sound Income Strategies LLC boosted its holdings in Corning by 76.7% in the fourth quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 227 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Corning during the 4th quarter worth approximately $25,000. Asset Planning Inc acquired a new position in shares of Corning in the 4th quarter valued at $29,000. Mainstream Capital Management LLC purchased a new position in shares of Corning in the 4th quarter valued at $35,000. Finally, Rosenberg Matthew Hamilton raised its stake in Corning by 202.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. HSBC raised shares of Corning from a “hold” rating to a “buy” rating and boosted their target price for the stock from $51.00 to $60.00 in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley upped their target price on Corning from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Oppenheimer reissued an “outperform” rating and set a $58.00 price target (up previously from $51.00) on shares of Corning in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Three 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. According to data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2027.

Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2026 election.

Gottheimer is also running for election for Governor of New Jersey. He declared candidacy for the Democratic primary scheduled on June 10, 2025.

Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

About Corning

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.