Rep. Josh Gottheimer Purchases Shares of Corning Incorporated (NYSE:GLW)

Representative Josh Gottheimer (D-New Jersey) recently bought shares of Corning Incorporated (NYSE:GLW). In a filing disclosed on February 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in Corning stock on January 27th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/31/2025.
• Sold $1,001 – $15,000 in shares of Arista Networks (NYSE:ANET) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Visa (NYSE:V) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Twilio (NYSE:TWLO) on 1/31/2025.
• Sold $1,001 – $15,000 in shares of ICF International (NASDAQ:ICFI) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Mastercard (NYSE:MA) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Visa (NYSE:V) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of 3M (NYSE:MMM) on 1/30/2025.

Corning Trading Down 1.3 %

Shares of Corning stock opened at $52.35 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $49.29 and a 200-day simple moving average of $46.02. The stock has a market cap of $44.82 billion, a price-to-earnings ratio of 90.25, a PEG ratio of 1.55 and a beta of 1.03. Corning Incorporated has a 12-month low of $30.72 and a 12-month high of $55.33.

Corning (NYSE:GLW) last announced its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Corning had a net margin of 3.86% and a return on equity of 15.10%. On average, equities analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Insider Activity

In related news, SVP John P. Bayne, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $48.39, for a total transaction of $241,950.00. Following the completion of the transaction, the senior vice president now owns 6,700 shares in the company, valued at $324,213. This represents a 42.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael Alan Bell sold 2,209 shares of Corning stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $49.87, for a total transaction of $110,162.83. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,085 shares of company stock worth $2,345,436. 0.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GLW shares. UBS Group boosted their target price on shares of Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Hsbc Global Res raised shares of Corning from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on shares of Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley boosted their price target on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Citigroup raised their price objective on Corning from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. FineMark National Bank & Trust raised its holdings in Corning by 23.8% during the fourth quarter. FineMark National Bank & Trust now owns 17,507 shares of the electronics maker’s stock worth $832,000 after buying an additional 3,369 shares during the last quarter. Modern Wealth Management LLC purchased a new position in Corning in the fourth quarter valued at about $211,000. CoreFirst Bank & Trust bought a new position in Corning during the fourth quarter valued at $414,000. Minneapolis Portfolio Management Group LLC increased its holdings in Corning by 0.3% in the 4th quarter. Minneapolis Portfolio Management Group LLC now owns 918,919 shares of the electronics maker’s stock worth $43,667,000 after acquiring an additional 3,186 shares during the last quarter. Finally, Congress Wealth Management LLC DE raised its position in shares of Corning by 73.7% in the fourth quarter. Congress Wealth Management LLC DE now owns 14,397 shares of the electronics maker’s stock valued at $684,000 after purchasing an additional 6,107 shares during the period. 69.80% of the stock is owned by institutional investors.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2027.

Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2026 election.

Gottheimer is also running for election for Governor of New Jersey. He declared candidacy for the Democratic primary scheduled on June 10, 2025.

Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

About Corning

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.