196,710 Shares in Corning Incorporated $GLW Acquired by Summitry LLC

Key Points

• Summitry LLC acquired 196,710 Corning shares worth approximately $26.7 million during the first quarter. Institutional investors collectively own 69.8% of GLW.
• Corning exceeded quarterly expectations with EPS of $0.78 and revenue of $4.74 billion, up 17.1% year over year, and guided for third-quarter EPS of $0.85–$0.89.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $176.38, while valuation concerns and recent insider selling remain risks. Corning also declared a quarterly dividend of $0.28 per share.

Summitry LLC bought a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 196,710 shares of the electronics maker's stock, valued at approximately $26,747,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Berbice Capital Management LLC bought a new stake in shares of Corning during the fourth quarter worth $26,000. Basepoint Wealth LLC acquired a new stake in shares of Corning during the fourth quarter worth $26,000. Kemnay Advisory Services Inc. bought a new stake in Corning in the 4th quarter valued at $27,000. Litman Gregory Wealth Management LLC acquired a new position in Corning in the 4th quarter worth $31,000. Finally, Evolution Wealth Management Inc. increased its holdings in Corning by 58.8% during the 4th quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker's stock worth $33,000 after purchasing an additional 141 shares in the last quarter. Institutional investors own 69.80% of the company's stock.

Analyst Upgrades and Downgrades

GLW has been the topic of several recent research reports. Citigroup dropped their price target on Corning from $240.00 to $220.00 and set a "buy" rating on the stock in a research note on Wednesday. Truist Financial increased their price objective on Corning from $149.00 to $205.00 and gave the stock a "hold" rating in a report on Monday, June 22nd. 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. Morgan Stanley dropped their target price on Corning from $180.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Finally, Weiss Ratings downgraded Corning from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $176.38.

Corning Trading Up 2.5%

Shares of NYSE:GLW opened at $138.54 on Friday. The company's 50-day moving average price is $182.92 and its two-hundred day moving average price is $156.75. Corning Incorporated has a one year low of $61.44 and a one year high of $271.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.06. The stock has a market capitalization of $119.34 billion, a PE ratio of 63.26, a price-to-earnings-growth ratio of 1.74 and a beta of 1.09.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities analysts forecast that Corning Incorporated will post 3.25 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning's dividend payout ratio (DPR) is currently 51.14%.

Key Stories Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: AI-driven optical growth is supporting the rebound. Second-quarter core sales rose 17% year over year to $4.74 billion, while core EPS increased 30% to $0.78. Optical Communications sales jumped 32% to $2.07 billion, helped by enterprise-network demand tied to artificial-intelligence infrastructure. Multiyear partnerships with Amazon and NVIDIA, along with Corning’s $10 billion photonics ambition, are reinforcing the long-term growth narrative. Why Corning Incorporated Stock Is Up Today
• Positive Sentiment: Management’s near-term outlook remains healthy. Corning guided for third-quarter core sales of $4.9 billion to $5.0 billion and core EPS of $0.85 to $0.89. Stronger cash flow, rising earnings estimates and expectations for accelerating growth under the extended Springboard plan are supporting investor confidence. Corning Rides AI Data Center Growth as Optical Demand Accelerates
• Neutral Sentiment: Solar and photonics expansion remain execution-dependent. Investors are watching whether Corning can convert rapidly rising solar sales into sustainable profitability while also funding U.S. expansion and meeting its ambitious photonics targets. Corning Growth Outlook Hinges on AI Optics and Solar Profitability
• Negative Sentiment: Valuation and market skepticism remain risks. After its AI-led rally, GLW trades at a premium valuation, leaving less room for execution mistakes. Analysts at JPMorgan and Citigroup issued cautious views, while the earlier selloff reflected concerns that third-quarter guidance implied slower growth against difficult comparisons. Is GLW Stock Attractive After Its AI Rally and Earnings Momentum?
• Negative Sentiment: Insider selling is a sentiment headwind. Company insiders reportedly made 14 open-market sales and no purchases during the past six months, including sales by CEO Wendell Weeks and other senior executives.

Insider Transactions at Corning

In other news, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the sale, the senior vice president owned 25,570 shares of the company's stock, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the firm's stock in a transaction on 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 $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is owned by insiders.

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.

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