Jamison Private Wealth Management Inc. Purchases 2,983 Shares of Corning Incorporated (NYSE:GLW)

Jamison Private Wealth Management Inc. boosted its holdings in shares of Corning Incorporated (NYSE:GLW) by 4.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 75,755 shares of the electronics maker’s stock after acquiring an additional 2,983 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Corning were worth $3,600,000 as of its most recent SEC filing.

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

Insider Activity

In related news, SVP John P. Bayne, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $48.39, for a total transaction of $241,950.00. Following the sale, the senior vice president now owns 6,700 shares of the company’s stock, valued at approximately $324,213. This represents a 42.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP John P. Bayne, Jr. sold 8,876 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was 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. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays upped their target price on shares of Corning from $40.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Corning from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup upped their target price on Corning from $55.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Morgan Stanley boosted their price objective on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. lifted their target price on Corning from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

Corning Stock Up 0.5 %

Corning stock opened at $54.22 on Friday. The firm has a 50 day simple moving average of $48.47 and a 200 day simple moving average of $45.48. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 1-year low of $30.51 and a 1-year high of $54.53. The firm has a market capitalization of $46.43 billion, a price-to-earnings ratio of 318.96, a P/E/G ratio of 1.46 and a beta of 1.04.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Corning had a return on equity of 13.45% and a net margin of 1.24%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. On average, analysts predict that Corning Incorporated will post 1.95 earnings per share for the current year.

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.