Livforsakringsbolaget Skandia Omsesidigt Has $297,000 Position in Corning Incorporated (NYSE:GLW)

Livforsakringsbolaget Skandia Omsesidigt lessened its position in shares of Corning Incorporated (NYSE:GLW) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,243 shares of the electronics maker’s stock after selling 500 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Corning were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Czech National Bank boosted its holdings in shares of Corning by 6.8% in the 3rd quarter. Czech National Bank now owns 156,883 shares of the electronics maker’s stock valued at $7,083,000 after purchasing an additional 9,970 shares in the last quarter. GAMMA Investing LLC boosted its stake in Corning by 236.7% in the third quarter. GAMMA Investing LLC now owns 6,875 shares of the electronics maker’s stock valued at $310,000 after buying an additional 4,833 shares in the last quarter. Mather Group LLC. grew its position in Corning by 17.8% in the third quarter. Mather Group LLC. now owns 2,630 shares of the electronics maker’s stock valued at $119,000 after acquiring an additional 398 shares during the last quarter. Atomi Financial Group Inc. acquired a new position in Corning during the third quarter worth about $217,000. Finally, Brookstone Capital Management lifted its holdings in shares of Corning by 42.7% in the third quarter. Brookstone Capital Management now owns 6,522 shares of the electronics maker’s stock worth $294,000 after acquiring an additional 1,951 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GLW. StockNews.com raised shares of Corning from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. UBS Group increased their price target on Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their target price on Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup lifted their price target on Corning from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. upped their price objective on Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Three investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Corning Trading Down 1.2 %

GLW opened at $52.99 on Friday. The stock has a market cap of $45.37 billion, a PE ratio of 91.36, a price-to-earnings-growth ratio of 1.55 and a beta of 1.03. The company has a quick ratio of 1.07, a current ratio of 1.62 and a debt-to-equity ratio of 0.62. Corning Incorporated has a twelve month low of $30.72 and a twelve month high of $55.33. The company has a fifty day moving average of $49.13 and a 200-day moving average of $45.88.

Corning (NYSE:GLW) last issued its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Corning had a return on equity of 15.10% and a net margin of 3.86%. On average, sell-side analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Insider Buying and Selling at Corning

In other news, SVP John P. Bayne, Jr. sold 8,876 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $49.09, for a total transaction of $435,722.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 sale, the senior vice president now directly owns 6,700 shares of the company’s stock, valued at $324,213. The trade was a 42.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,085 shares of company stock valued at $2,345,436. 0.40% of the stock is currently owned by company insiders.

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.