Chevy Chase Trust Holdings LLC Reduces Holdings in Corning Incorporated $GLW

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Corning Incorporated (NYSE:GLW) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 402,270 shares of the electronics maker’s stock after selling 9,316 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Corning were worth $32,998,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GLW. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Corning during the 3rd quarter worth $25,000. Strengthening Families & Communities LLC purchased a new stake in shares of Corning in the 3rd quarter worth $27,000. Total Investment Management Inc. purchased a new stake in shares of Corning in the 2nd quarter worth $28,000. Cornerstone Planning Group LLC raised its holdings in Corning by 58.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock worth $30,000 after purchasing an additional 124 shares during the period. Finally, Financial Management Professionals Inc. raised its holdings in Corning by 111.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock worth $31,000 after purchasing an additional 200 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Bank of America raised its price target to $144 and reiterated a “buy” rating, citing a potential ~$10.3B scale-out revenue opportunity that could drive meaningful upside. BofA price target raise
• Positive Sentiment: Corning expanded its AI data-center connectivity portfolio by licensing PRIZM TMT ferrule technology from US Conec, improving high-density optical connectivity for AI/GenAI networks — a direct catalyst for optical revenue growth. Zacks: Corning expands AI data center portfolio
• Positive Sentiment: Coverage consensus is supportive: analysts on aggregate have a “moderate buy” recommendation, which can sustain investor demand and limit downside. Analyst consensus: Moderate Buy
• Positive Sentiment: Zacks highlighted GLW as a top-ranked growth stock under its style scores, reinforcing the growth narrative for momentum investors. Zacks: Top-ranked growth stock
• Positive Sentiment: Market coverage notes strong GenAI-driven demand for optical communications, supporting near-term revenue momentum in Corning’s Optical Communications segment. Yahoo: GenAI-driven optical demand
• Neutral Sentiment: Some outlets present mixed analyst views and valuation questions despite recent gains; these pieces underscore investor caution around stretched multiples after a large run-up. Globe and Mail: Mixed analyst opinions
• Neutral Sentiment: An investor-focused article lists two bullish reasons and one skepticism point — useful for watchlist investors but highlights the need to weigh growth vs. valuation. Yahoo: 2 reasons to like, 1 to be skeptical

Insider Buying and Selling

In other Corning news, EVP Lewis A. Steverson sold 15,366 shares of Corning stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total value of $2,000,960.52. Following the sale, the executive vice president owned 3,461 shares of the company’s stock, valued at $450,691.42. The trade was a 81.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP John Z. Zhang sold 1,531 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $133.75, for a total value of $204,771.25. The SEC filing for this sale provides additional information. Insiders sold 233,201 shares of company stock valued at $32,614,558 in the last ninety days. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on Corning from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Susquehanna raised their price objective on Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a research note on Thursday, January 29th. Weiss Ratings raised Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. Barclays set a $100.00 price objective on Corning in a research note on Thursday, January 29th. Finally, Morgan Stanley raised their target price on shares of Corning from $103.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $131.75.

Corning Price Performance

Shares of NYSE:GLW opened at $129.19 on Monday. The firm has a market cap of $110.84 billion, a price-to-earnings ratio of 70.21, a P/E/G ratio of 2.04 and a beta of 1.04. The firm has a fifty day moving average price of $117.74 and a 200 day moving average price of $95.48. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $162.10. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59.

Corning (NYSE:GLW) last announced its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. Corning’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, sell-side analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s payout ratio is 60.87%.

Corning Company 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.