Elwood & Goetz Wealth Advisory Group LLC Takes Position in Corning Incorporated $GLW

Key Points

• Elwood & Goetz Wealth Advisory Group LLC has acquired a new stake in Corning Incorporated, purchasing 3,945 shares valued at approximately $207,000.
• Recent analyst ratings for Corning show a consensus of "Moderate Buy", with Citigroup raising the target price to $93.00 while other analysts set targets between $65.00 and $75.00.
• Insider transactions revealed that both CEO Wendell P. Weeks and EVP Lewis A. Steverson sold significant shares, with Steverson's sale reflecting a 29.51% decrease in his position.

Elwood & Goetz Wealth Advisory Group LLC acquired a new stake in Corning Incorporated (NYSE:GLW - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,945 shares of the electronics maker's stock, valued at approximately $207,000.

A number of other hedge funds have also bought and sold shares of GLW. Trivium Point Advisory LLC bought a new position in Corning during the second quarter worth about $210,000. Greenleaf Trust increased its position in Corning by 12.0% during the second quarter. Greenleaf Trust now owns 11,534 shares of the electronics maker's stock worth $607,000 after acquiring an additional 1,235 shares during the period. Capital Investment Advisors LLC increased its position in Corning by 5.9% during the second quarter. Capital Investment Advisors LLC now owns 7,946 shares of the electronics maker's stock worth $418,000 after acquiring an additional 442 shares during the period. Northwest Wealth Management LLC bought a new position in Corning during the second quarter worth about $209,000. Finally, Kavar Capital Partners Group LLC increased its position in Corning by 5.7% during the second quarter. Kavar Capital Partners Group LLC now owns 11,664 shares of the electronics maker's stock worth $613,000 after acquiring an additional 631 shares during the period. 69.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

GLW has been the topic of a number of recent research reports. Susquehanna reaffirmed a "positive" rating and set a $75.00 price target (up from $60.00) on shares of Corning in a research report on Wednesday, July 30th. Wolfe Research initiated coverage on shares of Corning in a research report on Tuesday, July 8th. They set an "outperform" rating on the stock. Citigroup raised their target price on shares of Corning from $72.00 to $93.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Oppenheimer reissued an "outperform" rating and issued a $72.00 target price (up from $55.00) on shares of Corning in a report on Wednesday, July 30th. Finally, Barclays raised their target price on shares of Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $70.08.

Insider Transactions at Corning

In other news, EVP Lewis A. Steverson sold 16,646 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total value of $1,035,714.12. Following the transaction, the executive vice president owned 39,759 shares in the company, valued at approximately $2,473,804.98. The trade was a 29.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Wendell P. Weeks sold 82,103 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the transaction, the chief executive officer owned 809,295 shares in the company, valued at $52,757,941.05. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,671 shares of company stock worth $11,816,899. Company insiders own 0.32% of the company's stock.

Corning Stock Up 1.1%

NYSE:GLW opened at $80.26 on Tuesday. The firm's 50 day simple moving average is $68.53 and its 200 day simple moving average is $55.04. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. Corning Incorporated has a one year low of $37.31 and a one year high of $81.58. The company has a market cap of $68.75 billion, a PE ratio of 85.38, a P/E/G ratio of 1.77 and a beta of 1.09.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same period last year, the company earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning 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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