Nkcfo LLC cut its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 55.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,500 shares of the electronics maker's stock after selling 5,500 shares during the period. Nkcfo LLC's holdings in Corning were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sound Income Strategies LLC lifted its stake in Corning by 76.7% in the fourth 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 period. Asset Planning Inc bought a new stake in shares of Corning in the 4th quarter valued at $29,000. Rosenberg Matthew Hamilton lifted its position in shares of Corning by 202.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker's stock valued at $35,000 after acquiring an additional 500 shares during the period. Cassady Schiller Wealth Management LLC bought a new position in Corning during the third quarter worth $39,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Corning in the third quarter worth $40,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE GLW opened at $52.58 on Friday. 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 company has a market capitalization of $45.02 billion, a PE ratio of 90.66, a PEG ratio of 1.55 and a beta of 1.03. The stock's 50 day moving average price is $49.52 and its 200-day moving average price is $46.23. Corning Incorporated has a twelve month low of $30.72 and a twelve month high of $55.33.

Corning (NYSE:GLW - Get Free Report) last issued its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. Corning had a return on equity of 15.10% and a net margin of 3.86%. On average, equities analysts anticipate that Corning Incorporated will post 2.33 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, February 28th. Corning's dividend payout ratio (DPR) is presently 193.11%.

Several brokerages have recently weighed in on GLW. UBS Group upped their price objective on shares of Corning from $46.00 to $51.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Citigroup increased their price target on Corning from $55.00 to $58.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on Corning from $55.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Oppenheimer reiterated an "outperform" rating and issued a $58.00 target price (up from $51.00) on shares of Corning in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Corning from $49.00 to $54.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Corning currently has an average rating of "Moderate Buy" and an average price target of $53.00.

Check Out Our Latest Research Report on GLW

In related news, SVP John P. Bayne, Jr. sold 8,876 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $49.09, for a total value of $435,722.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP John P. Bayne, Jr. sold 5,000 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $48.39, for a total value of $241,950.00. Following the transaction, the senior vice president now directly owns 6,700 shares of the company's stock, valued at $324,213. The trade was a 42.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,085 shares of company stock worth $2,345,436. Company insiders own 0.40% of the company's stock.

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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