Focused Investors Position in International Business Machine (IBM) Has Trimmed as Stock Declined; As Corning (GLW) Market Value Rose, Holder Meyer Handelman Co Has Trimmed Holding

January 21, 2018 - By Vivian Park

Focused Investors Llc decreased its stake in International Business Machine (IBM) by 2.87% based on its latest 2017Q3 regulatory filing with the SEC. Focused Investors Llc sold 13,600 shares as the company’s stock declined 15.88% while stock markets rallied. The institutional investor held 459,600 shares of the computer manufacturing company at the end of 2017Q3, valued at $66.68 million, down from 473,200 at the end of the previous reported quarter. Focused Investors Llc who had been investing in International Business Machine for a number of months, seems to be less bullish one the $150.32 billion market cap company. The stock decreased 3.99% or $6.75 during the last trading session, reaching $162.37. About 21.17 million shares traded or 302.33% up from the average. International Business Machines Corporation (NYSE:IBM) has risen 4.86% since January 21, 2017 and is uptrending. It has underperformed by 11.84% the S&P500.

Meyer Handelman Co decreased its stake in Corning Inc (GLW) by 27.83% based on its latest 2017Q3 regulatory filing with the SEC. Meyer Handelman Co sold 212,500 shares as the company’s stock rose 5.06% with the market. The institutional investor held 551,182 shares of the telecommunications equipment company at the end of 2017Q3, valued at $16.49M, down from 763,682 at the end of the previous reported quarter. Meyer Handelman Co who had been investing in Corning Inc for a number of months, seems to be less bullish one the $30.12 billion market cap company. The stock decreased 0.55% or $0.19 during the last trading session, reaching $34.66. About 5.83 million shares traded or 6.37% up from the average. Corning Incorporated (NYSE:GLW) has risen 53.38% since January 21, 2017 and is uptrending. It has outperformed by 36.68% the S&P500.

Investors sentiment increased to 0.74 in 2017 Q3. Its up 0.02, from 0.72 in 2017Q2. It improved, as 70 investors sold IBM shares while 676 reduced holdings. 100 funds opened positions while 451 raised stakes. 519.10 million shares or 2.22% less from 530.91 million shares in 2017Q2 were reported. Two Sigma Secs Llc invested in 0.03% or 2,261 shares. 8,594 were accumulated by Tirschwell & Loewy. Renaissance Technology Ltd Company holds 0.19% or 1.11M shares in its portfolio. Shufro Rose Ltd Com holds 0.28% or 19,261 shares in its portfolio. Goelzer reported 59,864 shares. Northstar Gru Incorporated owns 3,812 shares. Reik Company Limited Liability Corporation holds 0.19% or 3,872 shares in its portfolio. Compton Mgmt Inc Ri stated it has 0.51% in International Business Machines Corporation (NYSE:IBM). Stonebridge Capital Advisors Lc reported 10,064 shares. Georgia-based Atlantic Trust Gru Limited Liability has invested 0.1% in International Business Machines Corporation (NYSE:IBM). Chilton Capital Mgmt Lc has invested 0.14% in International Business Machines Corporation (NYSE:IBM). 24,049 are held by Partnervest Advisory Services Limited Company. Brandywine Global Limited Liability Co owns 0.74% invested in International Business Machines Corporation (NYSE:IBM) for 800,165 shares. Florida-based Sabal Trust Co has invested 0.06% in International Business Machines Corporation (NYSE:IBM). Moreover, Advisory Serv Incorporated has 0.16% invested in International Business Machines Corporation (NYSE:IBM).

Focused Investors Llc, which manages about $2.82B and $2.36 billion US Long portfolio, upped its stake in Cbs Corporation (NYSE:CBS) by 488,700 shares to 1.62M shares, valued at $94.24 million in 2017Q3, according to the filing.

Among 33 analysts covering International Business Machines (NYSE:IBM), 13 have Buy rating, 4 Sell and 16 Hold. Therefore 39% are positive. International Business Machines had 121 analyst reports since July 21, 2015 according to SRatingsIntel. RBC Capital Markets maintained International Business Machines Corporation (NYSE:IBM) on Friday, January 19 with “Buy” rating. Bank of America maintained the stock with “Buy” rating in Wednesday, July 19 report. Morgan Stanley maintained International Business Machines Corporation (NYSE:IBM) on Wednesday, August 23 with “Buy” rating. JMP Securities maintained it with “Market Outperform” rating and $172 target in Tuesday, July 19 report. Barclays Capital maintained International Business Machines Corporation (NYSE:IBM) on Wednesday, October 18 with “Underweight” rating. The firm earned “Underperform” rating on Tuesday, October 18 by Credit Suisse. The firm earned “Hold” rating on Thursday, January 18 by Wedbush. RBC Capital Markets maintained International Business Machines Corporation (NYSE:IBM) on Monday, January 18 with “Sector Perform” rating. The stock of International Business Machines Corporation (NYSE:IBM) has “Underweight” rating given on Tuesday, July 19 by Barclays Capital. The firm has “Hold” rating given on Monday, September 25 by KeyBanc Capital Markets.

Among 18 analysts covering Corning Incorporated (NYSE:GLW), 5 have Buy rating, 2 Sell and 11 Hold. Therefore 28% are positive. Corning Incorporated had 44 analyst reports since July 30, 2015 according to SRatingsIntel. The stock of Corning Incorporated (NYSE:GLW) has “Hold” rating given on Tuesday, May 30 by Jefferies. The rating was initiated by Wells Fargo on Wednesday, December 21 with “Market Perform”. JP Morgan downgraded the stock to “Neutral” rating in Thursday, December 17 report. The firm has “Buy” rating given on Tuesday, October 24 by Guggenheim. The company was maintained on Wednesday, October 25 by Deutsche Bank. The stock of Corning Incorporated (NYSE:GLW) has “Hold” rating given on Wednesday, October 4 by Jefferies. RBC Capital Markets maintained Corning Incorporated (NYSE:GLW) rating on Friday, September 25. RBC Capital Markets has “Outperform” rating and $21 target. UBS maintained Corning Incorporated (NYSE:GLW) rating on Wednesday, October 28. UBS has “Neutral” rating and $19 target. The stock of Corning Incorporated (NYSE:GLW) has “Sell” rating given on Monday, June 19 by Drexel Hamilton. The firm earned “Buy” rating on Wednesday, January 4 by Guggenheim.

Since August 24, 2017, it had 0 insider purchases, and 7 selling transactions for $12.68 million activity. $1.33M worth of Corning Incorporated (NYSE:GLW) was sold by Kinlin Clark S. McRae Lawrence D sold $1.38M worth of Corning Incorporated (NYSE:GLW) on Wednesday, August 30. $945,178 worth of Corning Incorporated (NYSE:GLW) shares were sold by Musser Eric S. On Thursday, December 14 RIEMAN DEBORAH sold $66,979 worth of Corning Incorporated (NYSE:GLW) or 2,083 shares. 33,000 shares were sold by Pambianchi Christine M, worth $942,619. 6,513 shares were sold by TOOKES HANSEL E II, worth $205,778 on Wednesday, October 25.

Analysts await Corning Incorporated (NYSE:GLW) to report earnings on January, 23. They expect $0.47 earnings per share, down 6.00% or $0.03 from last year’s $0.5 per share. GLW’s profit will be $408.46 million for 18.44 P/E if the $0.47 EPS becomes a reality. After $0.43 actual earnings per share reported by Corning Incorporated for the previous quarter, Wall Street now forecasts 9.30% EPS growth.

Investors sentiment decreased to 0.75 in Q3 2017. Its down 0.17, from 0.92 in 2017Q2. It dropped, 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. Schwab Charles Invest Mgmt owns 3.38 million shares. Walter Keenan Consulting Communications Mi Adv reported 5,795 shares. Lincluden Management has 1.06% invested in Corning Incorporated (NYSE:GLW) for 45,896 shares. Jefferies Group Lc invested 0.04% in Corning Incorporated (NYSE:GLW). Pennsylvania-based Ajo LP has invested 0.07% in Corning Incorporated (NYSE:GLW). 10,707 are held by Homrich And Berg. St Johns Mngmt Co Ltd Liability Co accumulated 23,192 shares. Moreover, Baker Avenue Asset Mngmt LP has 0.47% invested in Corning Incorporated (NYSE:GLW) for 139,154 shares. 143,047 are owned by Advsrs Capital Mgmt Ltd Liability Com. Tiaa Cref Management Lc reported 2.97 million shares or 0.06% of all its holdings. Northeast Inv Mgmt invested in 0.03% or 13,014 shares. Ancora Advisors Ltd Liability Corp holds 0.34% or 194,185 shares in its portfolio. Covington Cap Mngmt invested 0.01% in Corning Incorporated (NYSE:GLW). Moreover, Choate Investment has 0.03% invested in Corning Incorporated (NYSE:GLW) for 16,621 shares. Nippon Life Insurance holds 0.03% of its portfolio in Corning Incorporated (NYSE:GLW) for 49,146 shares.

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