Kera Capital Partners Inc. Makes New $6.79 Million Investment in Corning Incorporated (NYSE:GLW)

Kera Capital Partners Inc. purchased a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 142,784 shares of the electronics maker's stock, valued at approximately $6,785,000. Corning comprises 2.0% of Kera Capital Partners Inc.'s investment portfolio, making the stock its 15th biggest position.

Several other hedge funds have also recently bought and sold shares of GLW. City Holding Co. grew its holdings in shares of Corning by 545.5% during the 3rd quarter. City Holding Co. now owns 710 shares of the electronics maker's stock worth $32,000 after purchasing an additional 600 shares in the last quarter. Rosenberg Matthew Hamilton boosted its stake in Corning by 202.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker's stock worth $35,000 after buying an additional 500 shares in the last quarter. Cassady Schiller Wealth Management LLC acquired a new stake in Corning during the third quarter worth $39,000. RPg Family Wealth Advisory LLC bought a new stake in Corning in the 3rd quarter valued at $40,000. Finally, Global Trust Asset Management LLC lifted its holdings 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 worth $42,000 after acquiring an additional 900 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Corning from $49.00 to $54.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Morgan Stanley upped their price target on Corning from $39.00 to $48.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. UBS Group lifted their price objective on Corning from $46.00 to $51.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Barclays upped their target price on shares of Corning from $40.00 to $53.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Finally, Oppenheimer restated an "outperform" rating and issued a $58.00 price target (up from $51.00) on shares of Corning in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $50.77.

Corning Trading Up 1.2 %

NYSE:GLW traded up $0.59 during trading hours on Friday, hitting $49.83. 5,472,683 shares of the stock were exchanged, compared to its average volume of 3,228,455. The company's 50 day moving average is $47.96 and its two-hundred day moving average is $45.08. The company has a market capitalization of $42.66 billion, a P/E ratio of 293.12, a price-to-earnings-growth ratio of 1.28 and a beta of 1.04. Corning Incorporated has a twelve month low of $29.82 and a twelve month high of $51.03. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $3.39 billion for the quarter, compared to analysts' expectations of $3.72 billion. Corning had a return on equity of 13.45% and a net margin of 1.24%. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 earnings per share. On average, sell-side analysts anticipate that Corning Incorporated will post 1.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP John P. Bayne, Jr. sold 8,876 shares of Corning stock in a transaction on Monday, November 25th. The stock was sold at an average price of $49.09, for a total transaction of $435,722.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John P. Bayne, Jr. sold 5,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $48.39, for a total value of $241,950.00. Following the completion of the transaction, the senior vice president now directly owns 6,700 shares in the company, valued at $324,213. The trade was a 42.74 % decrease in their position. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by insiders.

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.