Rep. Josh Gottheimer Sells Corning Incorporated (NYSE:GLW) Shares

Representative Josh Gottheimer (D-New Jersey) recently sold shares of Corning Incorporated NYSE: GLW. In a filing disclosed on May 14th, the Representative disclosed that they had sold between $15,001 and $50,000 in Corning stock on April 17th. The trade occurred in the Representative's "MORGAN STANLEY - SELECT UMA ACCOUNT # 1" account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of RTX NYSE: RTX on 4/23/2025.
• Purchased $1,001 - $15,000 in shares of Cheniere Energy NYSE: LNG on 4/22/2025.
• Purchased $1,001 - $15,000 in shares of Techtronic Industries OTCMKTS: TTNDY on 4/21/2025.
• Purchased $1,001 - $15,000 in shares of Tri Pointe Homes NYSE: TPH on 4/21/2025.
• Purchased $1,001 - $15,000 in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk NYSE: TLK on 4/21/2025.
• Sold $1,001 - $15,000 in shares of KKR & Co. Inc. NYSE: KKR on 4/21/2025.
• Purchased $1,001 - $15,000 in shares of D.R. Horton NYSE: DHI on 4/21/2025.
• Purchased $1,001 - $15,000 in shares of Home Depot NYSE: HD on 4/21/2025.
• Sold $1,001 - $15,000 in shares of Hillman Solutions NASDAQ: HLMN on 4/17/2025.
• Sold $1,001 - $15,000 in shares of AbbVie NYSE: ABBV on 4/17/2025.

Corning Price Performance

NYSE:GLW opened at $47.56 on Friday. Corning Incorporated has a 52 week low of $35.01 and a 52 week high of $55.33. The company has a quick ratio of 1.07, a current ratio of 1.62 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $40.73 billion, a PE ratio of 82.00, a price-to-earnings-growth ratio of 1.50 and a beta of 1.09. The stock's 50-day moving average price is $44.53 and its 200-day moving average price is $47.50.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The electronics maker reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.63 billion. Corning had a net margin of 3.86% and a return on equity of 15.10%. Corning's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. As a group, equities analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Friday, May 30th. Corning's dividend payout ratio is currently 215.38%.

Insider Transactions at Corning

In other news, SVP Michael Alan Bell sold 20,262 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $44.06, for a total transaction of $892,743.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John Z. Zhang sold 8,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $46.91, for a total transaction of $375,280.00. Following the transaction, the vice president now directly owns 9,610 shares in the company, valued at $450,805.10. The trade was a 45.43% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company's stock.

Institutional Trading of Corning

Several large investors have recently added to or reduced their stakes in GLW. Sound Income Strategies LLC boosted its position in Corning by 76.7% in the 4th quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker's stock valued at $25,000 after buying an additional 227 shares during the last quarter. Sierra Ocean LLC purchased a new position in Corning in the 4th quarter valued at about $25,000. Asset Planning Inc purchased a new position in Corning in the 4th quarter valued at about $29,000. Vermillion Wealth Management Inc. bought a new position in shares of Corning during the fourth quarter worth about $29,000. Finally, Putney Financial Group LLC bought a new position in shares of Corning during the fourth quarter worth about $30,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GLW has been the topic of a number of research reports. Oppenheimer decreased their price target on Corning from $58.00 to $55.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Bank of America upped their price target on Corning from $65.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, March 19th. Citigroup decreased their price target on Corning from $58.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. decreased their price target on Corning from $62.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, StockNews.com cut Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Corning currently has a consensus rating of "Moderate Buy" and an average price target of $53.08.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey's 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2027. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey's 5th Congressional District. He declared candidacy for the 2026 election. Gottheimer is also running for election for Governor of New Jersey. He declared candidacy for the Democratic primary scheduled on June 10, 2025. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

About Corning

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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