Harbor Investment Advisory LLC Has $207,000 Stock Holdings in Corning Incorporated (NYSE:GLW)

Harbor Investment Advisory LLC cut its position in shares of Corning Incorporated (NYSE:GLW) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,790 shares of the electronics maker’s stock after selling 450 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Corning were worth $207,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Peoples Bank KS bought a new stake in Corning during the 3rd quarter worth approximately $25,000. OFI Invest Asset Management acquired a new stake in Corning during the 3rd quarter worth $25,000. Janiczek Wealth Management LLC raised its stake in Corning by 173.6% during the 3rd quarter. Janiczek Wealth Management LLC now owns 900 shares of the electronics maker’s stock worth $27,000 after buying an additional 571 shares during the period. Quarry LP bought a new position in Corning during the 2nd quarter worth about $32,000. Finally, SRS Capital Advisors Inc. increased its holdings in Corning by 232.9% during the 3rd quarter. SRS Capital Advisors Inc. now owns 932 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 652 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Trading Up 1.0 %

Shares of GLW stock opened at $32.27 on Friday. The firm has a 50 day moving average price of $32.41 and a two-hundred day moving average price of $30.36. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $27.60 billion, a PE ratio of 48.16, a price-to-earnings-growth ratio of 1.82 and a beta of 1.08. Corning Incorporated has a 12-month low of $25.26 and a 12-month high of $36.01.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, January 30th. The electronics maker reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.26 billion. Corning had a net margin of 4.62% and a return on equity of 12.31%. The firm’s quarterly revenue was down 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. As a group, analysts predict that Corning Incorporated will post 1.86 earnings per share for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.47%. Corning’s payout ratio is presently 167.16%.

Insiders Place Their Bets

In related news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $33.24, for a total value of $2,574,903.36. Following the sale, the insider now owns 215,254 shares of the company’s stock, valued at $7,155,042.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GLW shares. Susquehanna restated a “positive” rating and issued a $40.00 price objective on shares of Corning in a report on Monday, April 1st. JPMorgan Chase & Co. raised their price objective on Corning from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday. HSBC cut Corning from a “hold” rating to a “reduce” rating and set a $29.00 price objective for the company. in a report on Thursday, February 1st. StockNews.com upgraded Corning from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Finally, UBS Group raised their price objective on Corning from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.56.

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.