GUARDIAN TRUSTCO SEES MODEST 1987 OUTLOOK <Guardian Trustco Inc>, earlier reporting a 198 pct increase in full year earnings per share, said the outlook for 1987 is more modest. The company said it has started a number of long-term growth projects which have a payback period exceeding one year. Guardian Trustco did not give a specific earnings forecast. The company earlier reported 1986 net profit rose to 2,853,000 dlrs or 1.25 dlrs a share, from year-earlier 1,579,000 dlrs or 42 cts a share.