JTC Employer Solutions Trustee Ltd Lowers Stake in Corning Incorporated $GLW

JTC Employer Solutions Trustee Ltd cut its stake in Corning Incorporated (NYSE:GLW) by 25.0% in the 1st quarter, Holdings Channel reports. The fund owned 30,000 shares of the electronics maker’s stock after selling 10,000 shares during the quarter. JTC Employer Solutions Trustee Ltd’s holdings in Corning were worth $4,079,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Corning by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock worth $8,693,247,000 after purchasing an additional 580,678 shares during the last quarter. State Street Corp raised its holdings in shares of Corning by 1.2% during the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after buying an additional 439,883 shares in the last quarter. Geode Capital Management LLC grew its position in Corning by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock valued at $1,781,250,000 after acquiring an additional 517,067 shares during the last quarter. Capital Research Global Investors raised its stake in shares of 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 acquiring an additional 5,831,873 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Corning by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after acquiring an additional 1,036,988 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning News Roundup

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning reported second-quarter revenue of $4.74 billion, up 17% year over year, while core EPS rose 30% to $0.78, exceeding the $0.76 consensus estimate. Corning Q2 results
• Positive Sentiment: Optical Communications sales increased 32% to $2.07 billion, led by a 65% gain in Enterprise Networks as generative-AI products continued to grow rapidly. Solar sales also climbed 90%, supporting revenue, margins and free cash flow. Corning beats Q2 estimates
• Positive Sentiment: Management highlighted demand from AI data centers and its Springboard plan, which is intended to accelerate sales and profitability. Corning’s fiber products are benefiting from the shift toward higher-bandwidth data-center networks. GLW AI growth plan
• Neutral Sentiment: Citigroup maintained a Buy rating but reduced its price target from $240 to $220. JPMorgan lowered its target from $200 to $170 and kept a Neutral rating, indicating analysts still see potential upside but have moderated expectations. Analyst target changes
• Negative Sentiment: Third-quarter revenue guidance of $4.9 billion to $5.0 billion was viewed as roughly in line with, rather than above, Wall Street’s $5.0 billion expectation. Although EPS guidance of $0.85-$0.89 exceeded the consensus midpoint, investors wanted a stronger outlook after the stock’s prior AI-driven rally. Corning guidance reaction
• Negative Sentiment: The guidance disappointment triggered a broad selloff in optical and AI infrastructure stocks. Analysts and market commentators also cited valuation concerns and a possible rotation away from recent AI winners, making the earnings beat insufficient to support the share price. Corning AI trade and guidance

Corning Trading Down 1.5%

Shares of GLW opened at $124.06 on Thursday. The stock has a market capitalization of $106.77 billion, a P/E ratio of 56.65, a PEG ratio of 1.66 and a beta of 1.09. The company has a quick ratio of 1.06, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The firm has a fifty day simple moving average of $185.16 and a two-hundred day simple moving average of $156.53. Corning Incorporated has a twelve month low of $61.44 and a twelve month high of $271.78.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, research analysts anticipate that Corning Incorporated will post 3.18 EPS for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.9%. Corning’s dividend payout ratio is presently 53.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citigroup cut their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. cut their price target on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday. Oppenheimer reduced their price objective on Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Susquehanna boosted their target price on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $176.38.

Insider Activity at Corning

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the transaction, the vice president owned 5,138 shares of the company’s stock, valued at $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 160,655 shares of company stock valued at $30,692,560 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Corning 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.