Hennessy Advisors Holding in First Conn Bancorp Md (FBNK) Has Lowered by $325,000 as Share Price Declined; Medtronic (MDT) Holder Chemung Canal Trust Company Has Lifted Holding

April 23, 2018 - By Adrian Erickson

Medtronic plc (NYSE:MDT) Logo

Chemung Canal Trust Company increased its stake in Medtronic (MDT) by 265.01% based on its latest 2017Q4 regulatory filing with the SEC. Chemung Canal Trust Company bought 9,763 shares as the company’s stock declined 4.15% with the market. The institutional investor held 13,447 shares of the electromedical & electrotherapeutic apparatus company at the end of 2017Q4, valued at $1.09M, up from 3,684 at the end of the previous reported quarter. Chemung Canal Trust Company who had been investing in Medtronic for a number of months, seems to be bullish on the $108.44 billion market cap company. The stock increased 0.14% or $0.11 during the last trading session, reaching $80.01. About 1.37M shares traded. Medtronic plc (NYSE:MDT) has declined 3.54% since April 23, 2017 and is downtrending. It has underperformed by 15.09% the S&P500.

Hennessy Advisors Inc decreased its stake in First Conn Bancorp Inc Md (FBNK) by 6.67% based on its latest 2017Q4 regulatory filing with the SEC. Hennessy Advisors Inc sold 12,500 shares as the company’s stock declined 2.85% with the market. The institutional investor held 175,000 shares of the finance company at the end of 2017Q4, valued at $4.58M, down from 187,500 at the end of the previous reported quarter. Hennessy Advisors Inc who had been investing in First Conn Bancorp Inc Md for a number of months, seems to be less bullish one the $389.50 million market cap company. The stock decreased 0.19% or $0.05 during the last trading session, reaching $25.6. About 9,809 shares traded. First Connecticut Bancorp, Inc. (NASDAQ:FBNK) has risen 7.13% since April 23, 2017 and is uptrending. It has underperformed by 4.42% the S&P500.

Among 28 analysts covering Medtronic (NYSE:MDT), 18 have Buy rating, 0 Sell and 10 Hold. Therefore 64% are positive. Medtronic had 82 analyst reports since August 10, 2015 according to SRatingsIntel. The company was maintained on Friday, August 26 by Jefferies. Needham maintained Medtronic plc (NYSE:MDT) rating on Tuesday, November 21. Needham has “Buy” rating and $95.0 target. Northland Capital maintained it with “Hold” rating and $80 target in Friday, April 21 report. The stock of Medtronic plc (NYSE:MDT) has “Overweight” rating given on Wednesday, November 23 by Barclays Capital. Goldman Sachs upgraded the stock to “Conviction Buy List” rating in Friday, November 13 report. Bank of America downgraded the stock to “Neutral” rating in Tuesday, January 3 report. The stock of Medtronic plc (NYSE:MDT) has “Buy” rating given on Thursday, October 8 by Evercore. The stock of Medtronic plc (NYSE:MDT) earned “Buy” rating by BMO Capital Markets on Friday, September 29. The rating was maintained by BMO Capital Markets on Friday, November 10 with “Buy”. The stock has “Outperform” rating by BMO Capital Markets on Wednesday, November 23.

Chemung Canal Trust Company, which manages about $457.90 million US Long portfolio, decreased its stake in Adobe Systems Inc (NASDAQ:ADBE) by 4,238 shares to 46,577 shares, valued at $8.16M in 2017Q4, according to the filing. It also reduced its holding in Johnson (NYSE:JNJ) by 3,444 shares in the quarter, leaving it with 121,202 shares, and cut its stake in Amgen (NASDAQ:AMGN).

Investors sentiment decreased to 1.02 in Q4 2017. Its down 0.10, from 1.12 in 2017Q3. It is negative, as 65 investors sold MDT shares while 427 reduced holdings. 111 funds opened positions while 393 raised stakes. 1.04 billion shares or 2.98% less from 1.07 billion shares in 2017Q3 were reported. Fulton Fincl Bank Na has invested 0.11% in Medtronic plc (NYSE:MDT). Moreover, Bridges Inv Mngmt has 0.1% invested in Medtronic plc (NYSE:MDT) for 15,738 shares. Gsa Capital Partners Limited Liability Partnership, a United Kingdom-based fund reported 32,506 shares. Hemenway Ltd Limited Liability Company has 8,668 shares. Noesis Cap Mangement reported 113,915 shares stake. Swiss National Bank & Trust accumulated 5.57 million shares. First Allied Advisory Services stated it has 0.05% in Medtronic plc (NYSE:MDT). Ssi Management Inc reported 4,009 shares stake. New England reported 15,528 shares. Adage Ptnrs Ltd reported 0.32% stake. Co Of Toledo Na Oh reported 0.2% of its portfolio in Medtronic plc (NYSE:MDT). Davenport Communications Limited Liability Com owns 520,016 shares or 0.5% of their US portfolio. Regent Invest Mgmt Limited Liability Com owns 0.12% invested in Medtronic plc (NYSE:MDT) for 4,400 shares. Barclays Public Ltd Company reported 0.24% of its portfolio in Medtronic plc (NYSE:MDT). Thompson Siegel And Walmsley Limited Liability reported 1,962 shares.

Hennessy Advisors Inc, which manages about $5.52 billion and $3.26B US Long portfolio, upped its stake in National Grid Plc by 60,000 shares to 1.14 million shares, valued at $67.06 million in 2017Q4, according to the filing. It also increased its holding in Kinder Morgan Inc Del (NYSE:KMI) by 80,000 shares in the quarter, for a total of 3.70 million shares, and has risen its stake in Mastercard Incorporated (NYSE:MA).

Investors sentiment increased to 1.44 in Q4 2017. Its up 0.14, from 1.3 in 2017Q3. It improved, as 12 investors sold FBNK shares while 20 reduced holdings. 11 funds opened positions while 35 raised stakes. 7.63 million shares or 2.96% less from 7.86 million shares in 2017Q3 were reported. Bnp Paribas Arbitrage owns 3,597 shares. Wedge L Limited Partnership Nc, North Carolina-based fund reported 40,600 shares. Dimensional Fund Advsrs Limited Partnership owns 461,951 shares. Employees Retirement Of Ohio invested in 0% or 1,861 shares. The North Carolina-based Savings Bank Of America De has invested 0% in First Connecticut Bancorp, Inc. (NASDAQ:FBNK). State Board Of Administration Of Florida Retirement Systems stated it has 19,184 shares or 0% of all its holdings. Bank & Trust Of Montreal Can reported 0% of its portfolio in First Connecticut Bancorp, Inc. (NASDAQ:FBNK). Trexquant Investment Ltd Partnership has 7,755 shares. Rhumbline Advisers invested in 15,084 shares. Fj Cap Mgmt Ltd Liability Company owns 782,800 shares or 2.56% of their US portfolio. Essex Financial has 0.24% invested in First Connecticut Bancorp, Inc. (NASDAQ:FBNK). Carret Asset Mgmt Limited holds 0.04% or 10,000 shares in its portfolio. Manufacturers Life Insurance The holds 0.02% of its portfolio in First Connecticut Bancorp, Inc. (NASDAQ:FBNK) for 635,879 shares. California State Teachers Retirement Sys stated it has 0% in First Connecticut Bancorp, Inc. (NASDAQ:FBNK). Kennedy Mngmt Inc reported 120,551 shares.

First Connecticut Bancorp, Inc. (NASDAQ:FBNK) Institutional Positions Chart

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