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

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 $1,001 and $15,000 in Corning stock on April 9th. 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 Trading Up 1.2%

GLW opened at $47.56 on Friday. The firm has a market capitalization of $40.73 billion, a price-to-earnings ratio of 82.00, a price-to-earnings-growth ratio of 1.50 and a beta of 1.09. The company's 50 day simple moving average is $44.53 and its two-hundred day simple moving average is $47.50. Corning Incorporated has a 1-year low of $35.01 and a 1-year high of $55.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07.

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

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a $0.28 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.12 dividend on an annualized basis and a yield of 2.35%. Corning's payout ratio is 215.38%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GLW shares. Bank of America lifted their price target on Corning from $65.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, March 19th. Barclays cut their price objective on shares of Corning from $53.00 to $52.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. Citigroup decreased their target price on shares of Corning from $58.00 to $50.00 and set a "buy" rating on the stock in a report on Monday, April 14th. HSBC upgraded shares of Corning from a "hold" rating to a "buy" rating and raised their price target for the stock from $51.00 to $60.00 in a report on Thursday, January 30th. Finally, Oppenheimer reduced their price target on shares of Corning from $58.00 to $55.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $53.08.

Insider Activity 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 available at this link. Also, VP John Z. Zhang sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $46.91, for a total transaction of $375,280.00. Following the completion of the transaction, the vice president now directly owns 9,610 shares of the company's stock, valued at approximately $450,805.10. The trade was a 45.43% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corning

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Corning by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 99,903,247 shares of the electronics maker's stock worth $4,747,402,000 after purchasing an additional 916,528 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Corning by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 18,470,610 shares of the electronics maker's stock valued at $875,633,000 after buying an additional 533,686 shares during the period. Northern Trust Corp raised its holdings in shares of Corning by 2.0% in the 4th quarter. Northern Trust Corp now owns 10,870,375 shares of the electronics maker's stock valued at $516,560,000 after buying an additional 208,826 shares during the period. Norges Bank acquired a new position in Corning during the 4th quarter worth about $490,933,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Corning by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,800,573 shares of the electronics maker's stock valued at $465,723,000 after acquiring an additional 78,497 shares during the period. Hedge funds and other institutional investors own 69.80% of the company's stock.

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.

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.

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