Corning Incorporated (GLW) Shares Sold by Jaffetilchin Investment Partners LLC
Jaffetilchin Investment Partners LLC trimmed its holdings in Corning Incorporated (NYSE:GLW) by 42.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,287 shares of the electronics maker’s stock after selling 16,848 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Corning were worth $745,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. GLG Partners LP purchased a new position in shares of Corning in the second quarter valued at about $102,000. MPS Loria Financial Planners LLC purchased a new position in shares of Corning in the second quarter valued at about $112,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Corning by 241.6% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 3,747 shares of the electronics maker’s stock valued at $112,000 after acquiring an additional 2,650 shares in the last quarter. Harfst & Associates Inc. lifted its position in shares of Corning by 44.7% in the second quarter. Harfst & Associates Inc. now owns 4,791 shares of the electronics maker’s stock valued at $143,000 after acquiring an additional 1,481 shares in the last quarter. Finally, Cable Hill Partners LLC lifted its position in shares of Corning by 1,041.3% in the third quarter. Cable Hill Partners LLC now owns 5,273 shares of the electronics maker’s stock valued at $158,000 after acquiring an additional 4,811 shares in the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.
GLW has been the topic of several research analyst reports. Guggenheim restated a “buy” rating and issued a $35.00 price objective on shares of Corning in a research report on Thursday, September 21st. Jefferies Group restated a “hold” rating and issued a $29.50 price objective on shares of Corning in a research report on Friday, October 6th. Zacks Investment Research downgraded Corning from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Oppenheimer reaffirmed a “hold” rating on shares of Corning in a report on Wednesday, October 25th. Finally, Deutsche Bank lifted their target price on Corning from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.76.
In other Corning news, Director Deborah Rieman sold 2,083 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $32.16, for a total transaction of $66,989.28. Following the sale, the director now directly owns 102,896 shares of the company’s stock, valued at $3,309,135.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Wendell P. Weeks sold 248,857 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $31.37, for a total value of $7,806,644.09. Following the sale, the chief executive officer now directly owns 65,333 shares in the company, valued at $2,049,496.21. The disclosure for this sale can be found here. Insiders have sold 348,320 shares of company stock worth $10,996,824 over the last three months. 0.59% of the stock is currently owned by insiders.
Shares of Corning Incorporated (NYSE GLW) opened at $33.33 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.14 and a current ratio of 2.69. Corning Incorporated has a 52 week low of $24.13 and a 52 week high of $33.92. The firm has a market capitalization of $28,970.00, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 2.78 and a beta of 1.33.
Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, October 24th. The electronics maker reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. Corning had a return on equity of 11.53% and a net margin of 24.98%. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same period in the previous year, the firm posted $0.42 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. equities analysts predict that Corning Incorporated will post 1.7 EPS for the current fiscal year.
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Corning Incorporated is engaged in manufacturing specialty glass and ceramics. Its segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).
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