Dakota Community Bank & Trust NA Sells 359 Shares of Corning Incorporated (NYSE:GLW)

Dakota Community Bank & Trust NA lessened its position in shares of Corning Incorporated (NYSE:GLW) by 8.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,030 shares of the electronics maker’s stock after selling 359 shares during the quarter. Dakota Community Bank & Trust NA’s holdings in Corning were worth $192,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. City Holding Co. lifted its holdings in shares of Corning by 545.5% in the 3rd quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock valued at $32,000 after acquiring an additional 600 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in Corning by 202.4% during the fourth 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 bought a new stake in shares of Corning in the 3rd quarter valued at approximately $39,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Corning in the 3rd quarter worth approximately $40,000. Finally, Global Trust Asset Management LLC increased its position in shares of Corning by 2,250.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 940 shares of the electronics maker’s stock valued at $42,000 after purchasing an additional 900 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Insider Activity at Corning

In other news, SVP John P. Bayne, Jr. sold 5,000 shares of Corning stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $48.39, for a total value of $241,950.00. Following the transaction, the senior vice president now owns 6,700 shares of the company’s stock, valued at $324,213. The trade was a 42.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John P. Bayne, Jr. sold 8,876 shares of the business’s 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. 0.45% of the stock is currently owned by corporate insiders.

Corning Price Performance

Shares of GLW stock opened at $49.83 on Friday. The stock has a market capitalization of $42.66 billion, a price-to-earnings ratio of 293.12, a P/E/G ratio of 1.28 and a beta of 1.04. 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 twelve month low of $29.82 and a twelve month high of $51.03. The stock has a fifty day simple moving average of $47.96 and a two-hundred day simple moving average of $44.99.

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

Analyst Ratings Changes

A number of analysts recently issued reports on GLW shares. Morgan Stanley raised their price target on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Bank of America upped their price target on shares of Corning from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays upped their target price on Corning from $40.00 to $53.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Susquehanna raised their price target on Corning from $46.00 to $55.00 and gave the stock a “positive” rating in a research note on Friday, September 20th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.77.

Corning Company 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.