Corning Incorporated $GLW Shares Bought by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc grew its position in Corning Incorporated (NYSE:GLW) by 18.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,504 shares of the electronics maker’s stock after acquiring an additional 14,719 shares during the period. Pinnacle Financial Partners Inc’s holdings in Corning were worth $7,834,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after purchasing an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. purchased a new stake in shares of Corning in the first quarter valued at approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Corning by 9.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after buying an additional 5,522 shares in the last quarter. Pallas Capital Advisors LLC grew its holdings in Corning by 158.0% during the second quarter. Pallas Capital Advisors LLC now owns 16,146 shares of the electronics maker’s stock worth $849,000 after acquiring an additional 9,888 shares during the period. Finally, Sivia Capital Partners LLC purchased a new position in Corning in the second quarter worth $401,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Eric S. Musser sold 100,000 shares of the business’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total value of $9,017,000.00. Following the completion of the transaction, the insider owned 44,926 shares of the company’s stock, valued at approximately $4,050,977.42. The trade was a 69.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Edward A. Schlesinger sold 20,893 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the sale, the chief financial officer directly owned 66,959 shares in the company, valued at $6,110,008.75. This represents a 23.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 156,135 shares of company stock worth $14,088,769. 0.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GLW shares. Barclays boosted their target price on shares of Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Mizuho set a $97.00 price objective on shares of Corning in a research note on Wednesday, October 29th. Argus upped their target price on shares of Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price target on shares of Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, Oppenheimer set a $100.00 price target on Corning and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Corning currently has an average rating of “Moderate Buy” and a consensus price target of $93.36.

Corning Trading Up 0.9%

Shares of Corning stock opened at $94.31 on Friday. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $96.64. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 1.00. The business has a 50 day moving average price of $86.87 and a 200 day moving average price of $76.97. The company has a market capitalization of $80.86 billion, a P/E ratio of 59.69, a P/E/G ratio of 1.16 and a beta of 1.13.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Corning had a return on equity of 18.12% and a net margin of 9.16%.The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. Corning’s quarterly revenue was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Sell-side analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.