Kestra Private Wealth Services LLC Purchases 6,708 Shares of Corning Incorporated (NYSE:GLW)

Kestra Private Wealth Services LLC increased its position in shares of Corning Incorporated (NYSE:GLW) by 12.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 59,525 shares of the electronics maker’s stock after buying an additional 6,708 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Corning were worth $2,829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLW. Sound Income Strategies LLC grew its position in shares of 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 during the last quarter. Rosenberg Matthew Hamilton boosted its stake in Corning by 202.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 500 shares during the period. Cassady Schiller Wealth Management LLC acquired a new stake in Corning in the 3rd quarter valued at approximately $39,000. RPg Family Wealth Advisory LLC bought a new position in Corning in the 3rd quarter worth approximately $40,000. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Corning during the fourth quarter worth approximately $40,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corning

In other Corning news, SVP John P. Bayne, Jr. sold 5,000 shares of Corning 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 completion of the transaction, the senior vice president now owns 6,700 shares in the company, valued at approximately $324,213. The trade was a 42.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $435,722.84. The disclosure for this sale can be found here. Insiders have sold 46,085 shares of company stock valued at $2,345,436 in the last three months. 0.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GLW shares. Barclays dropped their target price on shares of Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Citigroup upped their price objective on shares of Corning from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. StockNews.com raised Corning from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Deutsche Bank Aktiengesellschaft upped their price target on Corning from $49.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley lifted their price objective on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.00.

Corning Stock Down 1.3 %

Shares of NYSE GLW opened at $52.35 on Wednesday. The business has a fifty day moving average of $49.29 and a two-hundred day moving average of $46.02. 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 52-week low of $30.72 and a 52-week high of $55.33. The stock has a market cap of $44.82 billion, a PE ratio of 90.25, a PEG ratio of 1.55 and a beta of 1.03.

Corning (NYSE:GLW) last released its quarterly 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 net margin of 3.86% and a return on equity of 15.10%. As a group, equities research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning 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.