Corning Incorporated (NYSE:GLW) Stock Position Raised by First Trust Advisors LP

First Trust Advisors LP boosted its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,310,923 shares of the electronics maker's stock after acquiring an additional 31,933 shares during the period. First Trust Advisors LP owned about 0.15% of Corning worth $62,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Corning by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 99,903,247 shares of the electronics maker's stock worth $4,747,402,000 after purchasing an additional 916,528 shares during the last quarter. Geode Capital Management LLC increased its position in Corning by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 18,470,610 shares of the electronics maker's stock worth $875,633,000 after buying an additional 533,686 shares during the period. Norges Bank bought a new stake in Corning in the fourth quarter valued at $490,933,000. Invesco Ltd. boosted its holdings in shares of Corning by 5.1% during the fourth quarter. Invesco Ltd. now owns 6,048,735 shares of the electronics maker's stock valued at $287,436,000 after acquiring an additional 293,713 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Corning by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,937,981 shares of the electronics maker's stock worth $234,653,000 after acquiring an additional 84,905 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corning

In other Corning news, COO Eric S. Musser sold 30,000 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $51.92, for a total transaction of $1,557,600.00. Following the completion of the sale, the chief operating officer now directly owns 152,944 shares in the company, valued at approximately $7,940,852.48. This trade represents a 16.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael Alan Bell sold 2,209 shares of Corning stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $49.87, for a total value of $110,162.83. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.

Corning Stock Up 2.6 %

GLW stock opened at $41.76 on Wednesday. The firm has a market cap of $35.78 billion, a PE ratio of 72.00, a P/E/G ratio of 1.50 and a beta of 1.03. Corning Incorporated has a 12 month low of $31.20 and a 12 month high of $55.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07. The firm has a 50 day simple moving average of $45.99 and a 200 day simple moving average of $47.64.

Corning (NYSE:GLW - Get Free Report) last issued its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share (EPS) 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%. Equities research analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Friday, February 28th. Corning's payout ratio is 193.10%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GLW shares. Hsbc Global Res raised shares of Corning from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 30th. Bank of America boosted their price objective on Corning from $65.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. Citigroup lowered their target price on Corning from $58.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Barclays reduced their price target on Corning from $53.00 to $52.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. Finally, StockNews.com lowered Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Corning presently has a consensus rating of "Moderate Buy" and an average target price of $53.31.

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.

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