Aviva PLC trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 2.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 425,327 shares of the electronics maker’s stock after selling 10,496 shares during the quarter. Aviva PLC owned 0.05% of Corning worth $11,701,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GLW. Institutional & Family Asset Management LLC acquired a new position in shares of Corning during the first quarter worth approximately $101,000. Founders Capital Management acquired a new position in shares of Corning during the second quarter worth approximately $105,000. Private Capital Group LLC raised its position in shares of Corning by 1,455.7% during the first quarter. Private Capital Group LLC now owns 3,936 shares of the electronics maker’s stock worth $110,000 after purchasing an additional 3,683 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Corning by 16,371.4% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,612 shares of the electronics maker’s stock worth $127,000 after purchasing an additional 4,584 shares during the period. Finally, Bray Capital Advisors acquired a new position in shares of Corning during the first quarter worth approximately $132,000. 71.75% of the stock is currently owned by institutional investors.

A number of equities analysts have recently weighed in on the company. Goldman Sachs Group raised Corning from a “sell” rating to a “neutral” rating and set a $29.00 target price on the stock in a research report on Wednesday, June 20th. Zacks Investment Research lowered Corning from a “buy” rating to a “hold” rating in a research report on Monday. Guggenheim reissued a “buy” rating on shares of Corning in a research report on Wednesday, July 25th. ValuEngine lowered Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, April 24th. Finally, Morgan Stanley increased their price target on Corning from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Corning has an average rating of “Buy” and a consensus target price of $33.68.

Corning opened at $32.94 on Tuesday, according to Marketbeat.com. The firm has a market capitalization of $26.60 billion, a P/E ratio of 19.15, a P/E/G ratio of 2.32 and a beta of 1.40. Corning Incorporated has a 12 month low of $26.11 and a 12 month high of $35.10. The company has a quick ratio of 1.58, a current ratio of 2.23 and a debt-to-equity ratio of 0.44.

Corning (NYSE:GLW) last released its quarterly earnings results on Wednesday, July 25th. The electronics maker reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.67 billion. Corning had a positive return on equity of 12.03% and a negative net margin of 8.32%. Corning’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 EPS. equities analysts expect that Corning Incorporated will post 1.73 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, August 31st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.72 dividend on an annualized basis and a yield of 2.19%. Corning’s dividend payout ratio (DPR) is presently 41.86%.

In other Corning news, insider R Tony Tripeny sold 67,659 shares of the company’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $33.00, for a total value of $2,232,747.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Wendell P. Weeks sold 224,884 shares of the company’s stock in a transaction on Friday, June 8th. The shares were sold at an average price of $28.71, for a total value of $6,456,419.64. Following the completion of the transaction, the chief executive officer now owns 111,835 shares of the company’s stock, valued at approximately $3,210,782.85. The disclosure for this sale can be found here. Insiders sold a total of 612,264 shares of company stock valued at $19,079,432 in the last 90 days. Corporate insiders own 0.46% of the company’s stock.

Corning Profile

Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials in North America, the Asia Pacific, Europe, and internationally. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences.

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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