WASHINGTON TRUST Co Sells 6,692 Shares of Corning Incorporated $GLW

WASHINGTON TRUST Co cut its stake in Corning Incorporated (NYSE:GLW) by 3.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 171,591 shares of the electronics maker’s stock after selling 6,692 shares during the quarter. WASHINGTON TRUST Co’s holdings in Corning were worth $26,384,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Herbst Group LLC bought a new stake in Corning during the second quarter worth about $4,474,000. Principal Financial Group Inc. raised its stake in shares of Corning by 1.2% in the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after acquiring an additional 10,591 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of Corning by 36.2% in the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after acquiring an additional 24,589 shares in the last quarter. Silverlake Wealth Management LLC acquired a new position in shares of Corning in the 2nd quarter worth approximately $1,872,000. Finally, Atlas Wealth LLC grew its position in Corning by 137.8% during the 1st quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock worth $1,642,000 after acquiring an additional 6,998 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Insiders Place Their Bets

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the sale, the executive vice president directly owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Corning News Roundup

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning’s presentation at the OCP Global Summit highlighted demand for optical fiber and high-density connectivity used in AI data centers. Long-term supply agreements with Amazon, NVIDIA, Meta and Verizon improve visibility for the Optical Communications business and could support future growth. Will AI Fiber Demand Change Corning’s Narrative
• Positive Sentiment: Analyst estimates are rising ahead of third-quarter results, with AI-driven optical demand and major customer agreements viewed as potential earnings catalysts. Solar profitability recovery remains an important factor for the quarter. Is Corning Stock a Smart Investment Option Before Q3 Earnings Release?
• Neutral Sentiment: Wall Street is closely focused on third-quarter revenue, earnings and operating metrics. Corning’s latest reported quarter exceeded consensus expectations, with revenue up 17.1% year over year, while current guidance calls for third-quarter EPS of $0.85 to $0.89. Unlocking Q3 Potential of Corning
• Negative Sentiment: JPMorgan lowered its price target for Corning to $165, triggering renewed selling pressure. The reduction suggests the bank sees less near-term upside after the stock’s substantial multiyear rally, despite maintaining interest in the AI-fiber opportunity. JPMorgan Cuts Target for Corning Stock to USD 165
• Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of Corning investors. The announcement does not establish wrongdoing, but it adds headline and legal risk. Pomerantz Investor Alert

Corning Trading Down 0.2%

Shares of GLW stock traded down $0.24 on Friday, reaching $123.75. 8,550,426 shares of the stock were exchanged, compared to its average volume of 7,813,206. The stock has a market cap of $106.60 billion, a PE ratio of 56.51, a P/E/G ratio of 1.56 and a beta of 1.13. Corning Incorporated has a one year low of $77.39 and a one year high of $271.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The stock has a 50 day moving average price of $150.96 and a 200 day moving average price of $168.28.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter 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. Equities research analysts forecast that Corning Incorporated will post 3.30 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, November 13th. Corning’s dividend payout ratio (DPR) is presently 51.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GLW shares. Truist Financial raised their price target on Corning from $175.00 to $182.00 and gave the company a “buy” rating in a report on Friday, October 2nd. China Renaissance raised Corning from a “hold” rating to a “buy” rating and set a $238.00 price objective on the stock in a research note on Tuesday, September 8th. Mizuho reduced their price objective on Corning from $210.00 to $180.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 15th. Weiss Ratings cut Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Finally, The Goldman Sachs Group restated an “outperform” rating on shares of Corning in a research note on Tuesday, September 15th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $177.25.

Corning Company Profile

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.