Corning (NYSE:GLW) Stock Price Up 5.2% Following Analyst Upgrade

Corning Incorporated (NYSE:GLW)’s share price was up 5.2% on Monday after Bank of America raised their price target on the stock from $144.00 to $155.00. Bank of America currently has a buy rating on the stock. Corning traded as high as $135.26 and last traded at $131.0560. Approximately 13,423,710 shares traded hands during mid-day trading, an increase of 19% from the average daily volume of 11,236,461 shares. The stock had previously closed at $124.58.

GLW has been the subject of a number of other reports. Mizuho set a $145.00 price target on Corning in a report on Monday, February 23rd. JPMorgan Chase & Co. boosted their price objective on Corning from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Wolfe Research set a $130.00 price objective on Corning and gave the stock an “outperform” rating in a report on Tuesday, January 27th. UBS Group raised their target price on Corning from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, Fox Advisors lowered Corning from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 29th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.67.

Insider Buying and Selling at Corning

In other Corning news, CEO Wendell P. Weeks sold 137,514 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $155.37, for a total value of $21,365,550.18. Following the transaction, the chief executive officer directly owned 750,585 shares in the company, valued at $116,618,391.45. This represents a 15.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Edward A. Schlesinger sold 21,104 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $104.55, for a total value of $2,206,423.20. Following the completion of the sale, the chief financial officer directly owned 54,780 shares in the company, valued at approximately $5,727,249. The trade was a 27.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 233,201 shares of company stock valued at $32,614,558 over the last 90 days. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Corning

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Beese Fulmer Investment Management Inc. boosted its position in Corning by 2.5% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock valued at $336,000 after buying an additional 92 shares during the period. 3Chopt Investment Partners LLC lifted its stake in shares of Corning by 1.0% in the 4th quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock valued at $897,000 after acquiring an additional 97 shares during the last quarter. Patten & Patten Inc. TN lifted its stake in shares of Corning by 0.6% in the 4th quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock valued at $1,558,000 after acquiring an additional 100 shares during the last quarter. Vermillion Wealth Management Inc. boosted its holdings in Corning by 32.8% during the 4th quarter. Vermillion Wealth Management Inc. now owns 405 shares of the electronics maker’s stock valued at $36,000 after acquiring an additional 100 shares during the period. Finally, Joel Isaacson & Co. LLC grew its position in Corning by 0.5% during the 4th quarter. Joel Isaacson & Co. LLC now owns 20,518 shares of the electronics maker’s stock worth $1,797,000 after acquiring an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Up 5.2%

The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. The stock has a 50 day simple moving average of $122.00 and a 200 day simple moving average of $97.66. The firm has a market capitalization of $112.44 billion, a PE ratio of 71.23, a PEG ratio of 1.97 and a beta of 1.04.

Corning (NYSE:GLW) last announced its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. Corning had a return on equity of 18.72% and a net margin of 10.21%.The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The business’s revenue was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, sell-side analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.9%. Corning’s dividend payout ratio (DPR) is presently 60.87%.

Corning Company Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.