Corning Incorporated (NYSE:GLW) Holdings Raised by Godsey & Gibb Inc.

Godsey & Gibb Inc. lifted its position in shares of Corning Incorporated (NYSE:GLW) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 454,893 shares of the electronics maker’s stock after acquiring an additional 1,105 shares during the period. Corning comprises approximately 2.2% of Godsey & Gibb Inc.’s holdings, making the stock its 21st largest holding. Godsey & Gibb Inc.’s holdings in Corning were worth $21,617,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Corning by 0.3% during the third quarter. Wellington Management Group LLP now owns 39,225,452 shares of the electronics maker’s stock worth $1,771,029,000 after purchasing an additional 133,214 shares during the period. State Street Corp raised its stake in Corning by 3.8% during the third quarter. State Street Corp now owns 33,983,090 shares of the electronics maker’s stock worth $1,534,337,000 after acquiring an additional 1,242,718 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Corning by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,853,076 shares of the electronics maker’s stock worth $219,116,000 after acquiring an additional 38,168 shares during the last quarter. FMR LLC boosted its stake in Corning by 52.8% in the third quarter. FMR LLC now owns 3,723,044 shares of the electronics maker’s stock valued at $168,095,000 after acquiring an additional 1,285,836 shares during the period. Finally, Stifel Financial Corp grew its holdings in shares of Corning by 1.9% during the third quarter. Stifel Financial Corp now owns 2,810,435 shares of the electronics maker’s stock valued at $126,893,000 after purchasing an additional 52,667 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Corning Stock Up 3.0 %

GLW stock opened at $48.87 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05. The firm has a market capitalization of $41.84 billion, a P/E ratio of 287.47, a P/E/G ratio of 1.28 and a beta of 1.04. Corning Incorporated has a 52-week low of $29.71 and a 52-week high of $51.03. The company’s 50 day simple moving average is $47.91 and its 200-day simple moving average is $44.85.

Corning (NYSE:GLW) last released its earnings results on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. Corning had a return on equity of 13.45% and a net margin of 1.24%. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that Corning Incorporated will post 1.95 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GLW shares. Deutsche Bank Aktiengesellschaft increased their target price on Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Corning from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Morgan Stanley lifted their price target on Corning from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Finally, Bank of America boosted their price objective on Corning from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average price target of $50.77.

Insider Buying and Selling

In related news, SVP John P. Bayne, Jr. sold 8,876 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $49.09, for a total transaction of $435,722.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John P. Bayne, Jr. sold 5,000 shares of the business’s 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 owns 6,700 shares in the company, valued at $324,213. This trade represents a 42.74 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.45% 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.