Corning (GLW) Position Maintained by Estabrook Capital Management; As United Technologies (UTX) Valuation Rose, Finemark National Bank & Trust Has Raised Holding

January 14, 2018 - By Vivian Currie

Estabrook Capital Management increased its stake in Corning Inc (GLW) by 3.67% based on its latest 2017Q3 regulatory filing with the SEC. Estabrook Capital Management bought 14,054 shares as the company’s stock rose 5.06% with the market. The institutional investor held 397,366 shares of the telecommunications equipment company at the end of 2017Q3, valued at $11.89 billion, up from 383,312 at the end of the previous reported quarter. Estabrook Capital Management who had been investing in Corning Inc for a number of months, seems to be bullish on the $30.12B market cap company. The stock increased 2.67% or $0.9 during the last trading session, reaching $34.66. About 6.59 million shares traded or 23.76% up from the average. Corning Incorporated (NYSE:GLW) has risen 53.38% since January 14, 2017 and is uptrending. It has outperformed by 36.68% the S&P500.

Finemark National Bank & Trust increased its stake in United Technologies Corp (UTX) by 6.48% based on its latest 2017Q3 regulatory filing with the SEC. Finemark National Bank & Trust bought 5,732 shares as the company’s stock rose 8.03% with the market. The institutional investor held 94,168 shares of the aerospace company at the end of 2017Q3, valued at $10.93 million, up from 88,436 at the end of the previous reported quarter. Finemark National Bank & Trust who had been investing in United Technologies Corp for a number of months, seems to be bullish on the $109.07 billion market cap company. The stock increased 1.18% or $1.59 during the last trading session, reaching $136.58. About 5.21 million shares traded or 67.82% up from the average. United Technologies Corporation (NYSE:UTX) has risen 22.99% since January 14, 2017 and is uptrending. It has outperformed by 6.29% the S&P500.

Finemark National Bank & Trust, which manages about $1.50B US Long portfolio, decreased its stake in Halliburton Co (NYSE:HAL) by 65,403 shares to 22,031 shares, valued at $1.01M in 2017Q3, according to the filing. It also reduced its holding in Boeing Co (NYSE:BA) by 7,737 shares in the quarter, leaving it with 48,420 shares, and cut its stake in Visa Inc (NYSE:V).

Since December 13, 2017, it had 0 buys, and 3 sales for $734,561 activity. Bailey Robert J. sold 636 shares worth $79,088.

Among 21 analysts covering United Technologies Corporation (NYSE:UTX), 10 have Buy rating, 0 Sell and 11 Hold. Therefore 48% are positive. United Technologies Corporation had 71 analyst reports since July 21, 2015 according to SRatingsIntel. Citigroup maintained United Technologies Corporation (NYSE:UTX) on Thursday, September 10 with “Buy” rating. The company was maintained on Tuesday, July 25 by Cowen & Co. The stock of United Technologies Corporation (NYSE:UTX) has “Buy” rating given on Thursday, January 28 by Argus Research. Deutsche Bank maintained United Technologies Corporation (NYSE:UTX) rating on Monday, December 5. Deutsche Bank has “Hold” rating and $112 target. The stock of United Technologies Corporation (NYSE:UTX) has “Buy” rating given on Wednesday, January 3 by RBC Capital Markets. The firm earned “Hold” rating on Thursday, August 10 by Stifel Nicolaus. The rating was maintained by Jefferies on Tuesday, May 30 with “Buy”. The company was maintained on Wednesday, July 27 by Barclays Capital. The firm has “Neutral” rating given on Wednesday, July 22 by Atlantic Securities. On Tuesday, October 6 the stock rating was upgraded by Numis Securities to “Buy”.

Investors sentiment increased to 1.05 in 2017 Q3. Its up 0.10, from 0.95 in 2017Q2. It is positive, as 63 investors sold UTX shares while 503 reduced holdings. 111 funds opened positions while 484 raised stakes. 621.08 million shares or 1.52% more from 611.76 million shares in 2017Q2 were reported. Moreover, Fort Point Capital Prtnrs Ltd Liability Company has 0.35% invested in United Technologies Corporation (NYSE:UTX). Monroe Comml Bank Mi invested in 8,922 shares. Hgk Asset stated it has 0.07% of its portfolio in United Technologies Corporation (NYSE:UTX). Benjamin F Edwards & Incorporated has 30,109 shares for 0.42% of their portfolio. Associated Banc reported 63,741 shares. Marble Harbor Counsel Limited Liability has invested 0.59% in United Technologies Corporation (NYSE:UTX). Wespac Advisors has 1.68% invested in United Technologies Corporation (NYSE:UTX). Cohen & Steers Incorporated invested 0.02% in United Technologies Corporation (NYSE:UTX). Foster And Motley reported 1.41% in United Technologies Corporation (NYSE:UTX). Us Savings Bank De has 1.06M shares. Victory Cap Management, Ohio-based fund reported 42,601 shares. Bnp Paribas Asset Hldgs accumulated 20,362 shares. Canada Pension Plan Inv Board has invested 0.05% in United Technologies Corporation (NYSE:UTX). Logan Capital Management reported 0.04% of its portfolio in United Technologies Corporation (NYSE:UTX). Stearns Fincl Serv Grp reported 24,508 shares.

Investors sentiment decreased to 0.75 in 2017 Q3. Its down 0.17, from 0.92 in 2017Q2. It dived, as 64 investors sold GLW shares while 339 reduced holdings. 66 funds opened positions while 235 raised stakes. 610.60 million shares or 2.66% less from 627.26 million shares in 2017Q2 were reported. Hamel Associate Incorporated holds 8,700 shares or 0.13% of its portfolio. Nippon Life Insur owns 0.03% invested in Corning Incorporated (NYSE:GLW) for 49,146 shares. Bluestein R H & accumulated 10,000 shares. 197,421 are held by Lpl Financial Limited Liability Co. 509,895 are held by American Century Companies. Thompson Rubinstein Investment Or accumulated 58,741 shares or 0.61% of the stock. Cleararc Capital holds 21,386 shares or 0.1% of its portfolio. Moreover, Duncker Streett & has 0.05% invested in Corning Incorporated (NYSE:GLW). Livforsakringsbolaget Skandia Omsesidigt owns 0.12% invested in Corning Incorporated (NYSE:GLW) for 44,943 shares. Moody Fincl Bank Trust Division holds 0.02% or 11,290 shares. Utd Services Automobile Association owns 0.03% invested in Corning Incorporated (NYSE:GLW) for 374,195 shares. 135,836 are owned by Cibc Ww Markets Corporation. 47,010 are held by Citadel Advsrs. Sol Mngmt owns 9,898 shares. Mercer Advisers holds 0.14% or 6,456 shares in its portfolio.

Estabrook Capital Management, which manages about $1.18 billion and $643.77 billion US Long portfolio, decreased its stake in Wells Fargo New (NYSE:WFC) by 44,609 shares to 150,934 shares, valued at $8.32B in 2017Q3, according to the filing. It also reduced its holding in Cardinal Health Inc. (NYSE:CAH) by 986 shares in the quarter, leaving it with 17,253 shares, and cut its stake in Waste Management Inc (NYSE:WM).

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