Sumitomo Mitsui Trust Group 13F: Cuts Corning (GLW) Stake by $23M

Sumitomo Mitsui Trust Group has trimmed its stake in Corning Incorporated (NYSE: GLW) by 87,657 shares, or roughly 4.8%. This brings its total holdings to 1,740,855 shares, valued at approximately $325.4 million, according to the latest Form 13F filing with the SEC, reflecting positions as of the end of the reporting period.

What Changed in Sumitomo Mitsui Trust Group's Corning Position

The trust group's decision to reduce its Corning position involved selling 87,657 shares. Prior to this change, it held 1,828,512 shares. The move indicates a 4.8% decrease in its stake, leaving it with 1,740,855 shares valued at $325.4 million.

Other Institutional Activity in Corning

BlackRock, Inc. increased its Corning holdings by 3,125,628 shares, bringing its total to 66,710,492 shares worth about $9.07 billion. Vanguard Capital Management LLC now holds 50,456,014 shares valued at approximately $6.86 billion, unchanged from previous levels. Meanwhile, State Street Corp reduced its position by 524,999 shares, ending with 36,263,357 shares valued at $4.93 billion. FMR LLC made a substantial addition, boosting its holdings by 10,458,914 shares to 24,909,423 shares, valued at $3.39 billion.

Corning Incorporated Stock Up 88.4%

Shares of Corning Incorporated (NYSE: GLW) are trading around $186.93. The company has a market capitalization of $161.7 billion and a high P/E ratio of 89.9, indicating investor growth expectations. Its forward P/E is 44.9. Corning's stock has seen a 52-week range between $49.97 and $211.79, with a current beta of 1.155, reflecting moderate volatility. The company's 50-day and 200-day moving averages are $177.44 and $118.86, respectively.

Recent Earnings

Corning reported $16.32 billion in revenue, with a modest growth rate of 0.2%. The company's earnings per share (EPS) stand at $2.09, with a net margin of 11.09% and a return on equity (ROE) of 16.74%. The next earnings report is expected on July 28, 2026.

Dividend

Corning pays an annual dividend rate of $1.12, yielding 0.6%. The dividend payout ratio is 53.85%, reflecting the portion of earnings distributed to shareholders.

Insider Buying and Selling at Corning Incorporated

Several insiders have been active in trading Corning shares. On June 9, 2026, Wendell Weeks, Chairman, CEO, and President, sold 100,000 shares at an average price of $186.46 and bought the same amount at $27.03. Jaymin Amin, SVP and Chief Technology Officer, sold 27,395 shares on May 22, 2026, at $192.14 and bought 7,917 shares at $27.00.

Analysts Set New Price Targets

On June 5, 2026, UBS maintained its "buy" rating with a target price of $228. Mizuho also maintained a "buy" rating on May 12, 2026, with a $220 target. Barclays kept a "hold" rating with a $180 target on May 8, 2026. The consensus recommendation is "buy" with an average target price of $198, based on 15 analyst opinions.

About Corning Incorporated

Corning Incorporated is a technology company based in Corning, New York. It operates across several sectors, including optical communications, display technology, and life sciences. The company provides a wide range of products such as optical fibers, glass substrates, and ceramic substrates for emissions control. With a workforce of approximately 67,200 employees, Corning is led by CEO Wendell P. Weeks.

Bottom Line

Sumitomo Mitsui Trust Group's recent filing shows a reduction in its stake in Corning, a move that investors may watch closely for insights into institutional sentiment. As with all 13F filings, it's important to remember that these reflect past holdings and may not indicate current positions. Corning remains a significant player in the technology sector, with active insider trading and a strong analyst outlook.