Town & Country Bank & Trust CO dba First Bankers Trust CO Invests $1.02 Million in Corning Incorporated (NYSE:GLW)

Town & Country Bank & Trust CO dba First Bankers Trust CO bought a new position in shares of Corning Incorporated (NYSE:GLW) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 21,374 shares of the electronics maker’s stock, valued at approximately $1,016,000.

Several other institutional investors have also made changes to their positions in GLW. Sound Income Strategies LLC grew its position 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 acquiring an additional 227 shares during the last quarter. City Holding Co. lifted its stake in Corning by 545.5% in the 3rd quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock valued at $32,000 after purchasing an additional 600 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of Corning by 202.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock worth $35,000 after buying an additional 500 shares during the last quarter. Cassady Schiller Wealth Management LLC bought a new position in shares of Corning in the 3rd quarter valued at $39,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Corning during the 3rd quarter valued at $40,000. 69.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP John P. Bayne, Jr. sold 5,000 shares of Corning 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 sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $435,722.84. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GLW. StockNews.com raised shares of Corning from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Deutsche Bank Aktiengesellschaft raised their price objective on Corning from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup raised their target price on Corning from $55.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. UBS Group raised their price objective on Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley increased their target price on shares of Corning from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average target price of $51.31.

Corning Stock Down 8.7 %

GLW opened at $49.53 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12 month low of $30.72 and a 12 month high of $54.53. The company has a market cap of $42.40 billion, a PE ratio of 291.32, a price-to-earnings-growth ratio of 1.46 and a beta of 1.04. The company has a 50 day moving average of $48.47 and a 200 day moving average of $45.50.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. Corning had a return on equity of 13.45% and a net margin of 1.24%. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the company earned $0.45 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts expect that Corning Incorporated will post 1.95 EPS for the current year.

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.