Corning Incorporated $GLW Stock Position Lowered by CapWealth Advisors LLC

Key Points

• CapWealth Advisors reduced its Corning stake by 11.7% in the third quarter, selling 47,340 shares and retaining 355,927 shares valued at approximately $54.7 million. Institutional investors collectively own 69.8% of Corning.
• Corning reported quarterly revenue of $4.74 billion and adjusted EPS of $0.78, beating analyst expectations, while revenue increased 17.1% year over year. The company issued third-quarter 2026 EPS guidance of $0.85 to $0.89.
• Shares recently fell 2.5% to $160.11, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $174.87.

CapWealth Advisors LLC lowered its stake in Corning Incorporated (NYSE:GLW - Free Report) by 11.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 355,927 shares of the electronics maker's stock after selling 47,340 shares during the quarter. Corning makes up about 4.2% of CapWealth Advisors LLC's holdings, making the stock its 2nd biggest position. CapWealth Advisors LLC's holdings in Corning were worth $54,727,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of GLW. State Street Corp grew its holdings in Corning by 13.4% in the 2nd quarter. State Street Corp now owns 41,108,384 shares of the electronics maker's stock valued at $10,500,315,000 after buying an additional 4,845,027 shares during the period. Bank of America Corp DE increased its position in Corning by 29.2% during the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker's stock worth $4,784,361,000 after purchasing an additional 4,231,507 shares during the last quarter. Capital Research Global Investors raised its stake in Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker's stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Corning by 50.9% in the 2nd quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker's stock valued at $3,365,084,000 after purchasing an additional 4,446,514 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Corning in the second quarter valued at $1,510,911,000. Hedge funds and other institutional investors own 69.80% of the company's stock.

Insiders Place Their Bets

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the firm's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the transaction, the executive vice president owned 15,052 shares of the company's stock, valued at $2,277,217.08. This trade represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GLW. Truist Financial boosted their price objective on shares of Corning from $175.00 to $182.00 and gave the stock a "buy" rating in a research note on Friday. Morgan Stanley decreased their price target on Corning from $180.00 to $165.00 and set an "equal weight" rating for the company in a report on Wednesday, July 29th. Weiss Ratings lowered shares of Corning from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 21st. Wall Street Zen cut shares of Corning from a "buy" rating to a "hold" rating in a research report on Monday, August 24th. Finally, The Goldman Sachs Group restated an "outperform" rating on shares of Corning in a research note on Tuesday, September 15th. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $174.87.

Corning Stock Down 2.5%

GLW traded down $4.08 during trading on Monday, hitting $160.11. The company had a trading volume of 2,707,613 shares, compared to its average volume of 12,120,207. Corning Incorporated has a 1-year low of $77.39 and a 1-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 1.24. The company has a market cap of $137.91 billion, a PE ratio of 73.11, a P/E/G ratio of 2.09 and a beta of 1.13. The business has a 50-day moving average of $153.10 and a 200-day moving average of $167.75.

Corning (NYSE:GLW - Get Free Report) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. The company'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, analysts forecast that Corning Incorporated will post 3.28 earnings per share for the current year.

About Corning

Corning Incorporated NYSE: GLW is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.

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