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

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 Trading Down 0.8 %

Shares of NYSE:GLW opened at $51.99 on Thursday. The firm has a market cap of $44.51 billion, a price-to-earnings ratio of 89.64, a PEG ratio of 1.55 and a beta of 1.03. The company has a quick ratio of 1.07, a current ratio of 1.62 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 $55.33. The company’s fifty day simple moving average is $49.36 and its 200 day simple moving average is $46.08.

Corning (NYSE:GLW) last released 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 return on equity of 15.10% and a net margin of 3.86%. As a group, research analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays reduced their price target on Corning from $53.00 to $52.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $58.00 target price (up previously from $51.00) on shares of Corning in a research report on Wednesday, October 30th. Morgan Stanley boosted their price target on shares of Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. raised their price objective on Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, UBS Group upped their price objective on Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Insider Buying and Selling at Corning

In related news, SVP Michael Alan Bell sold 2,209 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $49.87, for a total value of $110,162.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Eric S. Musser sold 30,000 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $51.92, for a total transaction of $1,557,600.00. Following the sale, the chief operating officer now owns 152,944 shares in the company, valued at $7,940,852.48. The trade was a 16.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,085 shares of company stock valued at $2,345,436 in the last quarter. Company insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Corning

Institutional investors and hedge funds have recently made changes to their positions in the company. Thoroughbred Financial Services LLC grew its holdings in Corning by 139.3% in the 4th quarter. Thoroughbred Financial Services LLC now owns 64,017 shares of the electronics maker’s stock valued at $3,042,000 after buying an additional 37,266 shares in the last quarter. Atlas Capital Advisors Inc. boosted its position in shares of Corning by 15.3% in the fourth quarter. Atlas Capital Advisors Inc. now owns 26,499 shares of the electronics maker’s stock valued at $1,259,000 after acquiring an additional 3,511 shares during the period. ExodusPoint Capital Management LP grew its stake in shares of Corning by 807.0% in the fourth quarter. ExodusPoint Capital Management LP now owns 331,042 shares of the electronics maker’s stock valued at $15,731,000 after acquiring an additional 294,544 shares in the last quarter. Motley Fool Asset Management LLC increased its position in Corning by 13.2% during the fourth quarter. Motley Fool Asset Management LLC now owns 38,998 shares of the electronics maker’s stock worth $1,853,000 after acquiring an additional 4,559 shares during the period. Finally, World Investment Advisors raised its stake in Corning by 6.2% in the 4th quarter. World Investment Advisors now owns 25,572 shares of the electronics maker’s stock worth $1,215,000 after purchasing an additional 1,485 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

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.