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 30th. 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 Stock Performance

Corning stock opened at $52.35 on Wednesday. The business has a 50 day moving average of $49.36 and a 200-day moving average of $46.08. The company has a market capitalization of $44.82 billion, a P/E ratio of 90.25, a P/E/G ratio of 1.55 and a beta of 1.03. Corning Incorporated has a 1 year low of $30.72 and a 1 year high of $55.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07.

Corning (NYSE:GLW) last announced its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP John P. Bayne, Jr. sold 5,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $48.39, for a total value of $241,950.00. Following the sale, the senior vice president now owns 6,700 shares in the company, valued at $324,213. This represents a 42.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael Alan Bell sold 2,209 shares of Corning stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $49.87, for a total value of $110,162.83. The disclosure for this sale can be found here. Insiders have sold a total of 46,085 shares of company stock worth $2,345,436 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Corning

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Amundi grew its stake in shares of Corning by 139.0% in the 4th quarter. Amundi now owns 3,900,808 shares of the electronics maker’s stock valued at $186,186,000 after buying an additional 2,268,436 shares during the period. Raymond James Financial Inc. bought a new position in Corning in the fourth quarter worth approximately $92,522,000. Appaloosa LP acquired a new stake in Corning in the fourth quarter valued at approximately $71,280,000. FMR LLC increased its holdings in shares of Corning by 52.8% during the third quarter. FMR LLC now owns 3,723,044 shares of the electronics maker’s stock valued at $168,095,000 after acquiring an additional 1,285,836 shares in the last quarter. Finally, State Street Corp raised 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 purchasing an additional 1,242,718 shares during the period. 69.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on GLW shares. HSBC upgraded Corning from a “hold” rating to a “buy” rating and increased their price objective for the company from $51.00 to $60.00 in a report on Thursday, January 30th. Oppenheimer reissued an “outperform” rating and issued a $58.00 price target (up previously from $51.00) on shares of Corning in a research note on Wednesday, October 30th. StockNews.com raised Corning from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. UBS Group increased their target price on shares of Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Citigroup boosted their price target on shares of Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.00.

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.

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.