Lincoln National Corp Has $781,000 Stock Position in Corning Incorporated (NYSE:GLW)

Lincoln National Corp increased its holdings in shares of Corning Incorporated (NYSE:GLW) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,638 shares of the electronics maker’s stock after buying an additional 1,287 shares during the quarter. Lincoln National Corp’s holdings in Corning were worth $781,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GLW. Wellington Management Group LLP raised its position in Corning by 7.7% in the third quarter. Wellington Management Group LLP now owns 28,714,901 shares of the electronics maker’s stock valued at $874,943,000 after purchasing an additional 2,055,388 shares during the last quarter. Morgan Stanley increased its stake in Corning by 5.1% during the 3rd quarter. Morgan Stanley now owns 21,899,529 shares of the electronics maker’s stock valued at $667,279,000 after purchasing an additional 1,060,450 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Corning by 15.0% during the third quarter. Ameriprise Financial Inc. now owns 17,615,078 shares of the electronics maker’s stock worth $536,114,000 after acquiring an additional 2,301,745 shares in the last quarter. Northern Trust Corp lifted its position in Corning by 2.0% in the 3rd quarter. Northern Trust Corp now owns 12,039,900 shares of the electronics maker’s stock valued at $366,856,000 after acquiring an additional 232,699 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Corning by 1.7% in the fourth quarter. California Public Employees Retirement System now owns 4,564,273 shares of the electronics maker’s stock worth $138,982,000 after purchasing an additional 77,299 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Corning

In other news, VP Jeffrey W. Evenson sold 103,437 shares of Corning stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $33.19, for a total value of $3,433,074.03. Following the sale, the vice president now directly owns 70,110 shares in the company, valued at approximately $2,326,950.90. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, VP Jeffrey W. Evenson sold 103,437 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $33.19, for a total value of $3,433,074.03. Following the completion of the transaction, the vice president now owns 70,110 shares of the company’s stock, valued at approximately $2,326,950.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Martin J. Curran sold 16,416 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $33.70, for a total value of $553,219.20. Following the completion of the sale, the vice president now directly owns 65,598 shares in the company, valued at $2,210,652.60. The disclosure for this sale can be found here. Insiders sold 239,841 shares of company stock valued at $7,971,257 in the last 90 days. Insiders own 0.40% of the company’s stock.

Corning Stock Performance

NYSE:GLW opened at $34.20 on Friday. Corning Incorporated has a 1-year low of $25.26 and a 1-year high of $36.01. The company has a market capitalization of $29.30 billion, a price-to-earnings ratio of 48.17, a PEG ratio of 1.70 and a beta of 1.07. The business has a 50 day moving average of $32.47 and a 200 day moving average of $30.78. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.67 and a quick ratio of 1.02.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, April 30th. The electronics maker reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. Corning had a return on equity of 12.31% and a net margin of 4.96%. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the company earned $0.41 EPS. Corning’s revenue for the quarter was down 11.5% compared to the same quarter last year. On average, sell-side analysts predict that Corning Incorporated will post 1.9 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, May 31st will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.12 annualized dividend and a dividend yield of 3.27%. Corning’s payout ratio is presently 157.75%.

Wall Street Analyst Weigh In

GLW has been the topic of several analyst reports. HSBC cut shares of Corning from a “hold” rating to a “reduce” rating and set a $29.00 price target on the stock. in a report on Thursday, February 1st. StockNews.com upgraded Corning from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Susquehanna reissued a “positive” rating and set a $40.00 target price on shares of Corning in a report on Monday, April 1st. JPMorgan Chase & Co. increased their price target on shares of Corning from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, Morgan Stanley restated an “overweight” rating and set a $35.00 price target on shares of Corning in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.00.

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.