Trust Co. of Vermont Takes $2.51 Million Position in Corning Incorporated $GLW

Trust Co. of Vermont acquired a new position in shares of Corning Incorporated (NYSE:GLW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,827 shares of the electronics maker’s stock, valued at approximately $2,510,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Berbice Capital Management LLC acquired a new position in Corning in the 4th quarter worth $26,000. Basepoint Wealth LLC acquired a new stake in shares of Corning in the 4th quarter valued at about $26,000. Atwood & Palmer Inc. acquired a new stake in shares of Corning in the 2nd quarter valued at about $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Corning in the 4th quarter valued at about $27,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in shares of Corning in the fourth quarter valued at about $31,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the transaction, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Bank of America increased their price objective on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Susquehanna boosted their target price on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Wall Street Zen downgraded Corning from a “strong-buy” rating to a “buy” rating in a research report on Sunday. JPMorgan Chase & Co. decreased their price target on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Finally, Morgan Stanley lowered their price objective on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $174.08.

Corning Price Performance

NYSE:GLW opened at $173.29 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The stock’s 50-day simple moving average is $176.54 and its 200 day simple moving average is $162.37. The company has a market cap of $149.27 billion, a P/E ratio of 79.13, a P/E/G ratio of 2.12 and a beta of 1.14. Corning Incorporated has a 52-week low of $63.37 and a 52-week high of $271.78.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. Corning’s revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, sell-side analysts forecast that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is presently 51.14%.

Corning 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.