Pacer Advisors Inc. Has $3.61 Million Stock Holdings in Corning Incorporated (NYSE:GLW)

Pacer Advisors Inc. lifted its position in shares of Corning Incorporated (NYSE:GLW) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,905 shares of the electronics maker’s stock after purchasing an additional 2,964 shares during the period. Pacer Advisors Inc.’s holdings in Corning were worth $3,607,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. FMR LLC raised its position in Corning by 52.8% during the 3rd quarter. FMR LLC now owns 3,723,044 shares of the electronics maker’s stock worth $168,095,000 after purchasing an additional 1,285,836 shares during the last quarter. State Street Corp increased its position in shares of Corning by 3.8% during the third quarter. State Street Corp now owns 33,983,090 shares of the electronics maker’s stock worth $1,534,337,000 after buying an additional 1,242,718 shares during the period. Los Angeles Capital Management LLC raised its stake in Corning by 215.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,677,513 shares of the electronics maker’s stock worth $75,740,000 after buying an additional 1,145,955 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in Corning by 4,306.9% during the third quarter. Pathway Financial Advisers LLC now owns 1,050,463 shares of the electronics maker’s stock valued at $47,428,000 after acquiring an additional 1,026,626 shares during the last quarter. Finally, Conning Inc. boosted its position in Corning by 14,556.8% during the third quarter. Conning Inc. now owns 881,019 shares of the electronics maker’s stock valued at $39,778,000 after acquiring an additional 875,008 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Insider Transactions at Corning

In other news, SVP John P. Bayne, Jr. sold 8,876 shares of Corning stock in a transaction on Monday, November 25th. The stock was sold at an average price of $49.09, for a total transaction 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 stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $48.39, for a total transaction of $241,950.00. Following the transaction, the senior vice president now owns 6,700 shares of the company’s stock, valued at approximately $324,213. The trade was a 42.74 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GLW shares. JPMorgan Chase & Co. boosted 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. 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. Oppenheimer reiterated an “outperform” rating and issued a $58.00 price objective (up previously from $51.00) on shares of Corning in a research note on Wednesday, October 30th. HSBC raised shares of Corning from a “hold” rating to a “buy” rating and increased their target price for the stock from $51.00 to $60.00 in a research note on Thursday. Finally, StockNews.com raised shares of Corning from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Corning Trading Up 0.3 %

NYSE GLW opened at $49.93 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $48.67 and a 200 day simple moving average of $45.60. Corning Incorporated has a 12 month low of $30.72 and a 12 month high of $55.33. The firm has a market capitalization of $42.75 billion, a P/E ratio of 293.68, a PEG ratio of 1.46 and a beta of 1.04.

Corning (NYSE:GLW) last released its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Corning had a net margin of 1.24% and a return on equity of 13.45%. On average, analysts predict that Corning Incorporated will post 1.95 EPS for the current fiscal year.

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.