PNC Financial Services Group Inc. Sells 64 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

PNC Financial Services Group Inc. cut its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,131 shares of the medical instruments supplier’s stock after selling 64 shares during the period. PNC Financial Services Group Inc.’s holdings in Mettler-Toledo International were worth $8,650,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MTD. Norges Bank bought a new position in Mettler-Toledo International during the fourth quarter valued at about $320,847,000. ING Groep NV increased its position in shares of Mettler-Toledo International by 8.2% during the fourth quarter. ING Groep NV now owns 2,969 shares of the medical instruments supplier’s stock valued at $3,601,000 after purchasing an additional 224 shares during the period. Wafra Inc. raised its stake in shares of Mettler-Toledo International by 496.2% in the fourth quarter. Wafra Inc. now owns 5,807 shares of the medical instruments supplier’s stock valued at $7,044,000 after purchasing an additional 4,833 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Mettler-Toledo International by 24.8% in the fourth quarter. Quadrant Capital Group LLC now owns 161 shares of the medical instruments supplier’s stock worth $195,000 after purchasing an additional 32 shares during the period. Finally, Kickstand Ventures LLC. acquired a new stake in Mettler-Toledo International during the fourth quarter worth $210,000. Institutional investors own 95.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Monday, April 29th. Citigroup lifted their price objective on Mettler-Toledo International from $975.00 to $1,200.00 and gave the company a “sell” rating in a report on Monday, May 13th. Stifel Nicolaus increased their target price on Mettler-Toledo International from $1,270.00 to $1,510.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Robert W. Baird boosted their price target on Mettler-Toledo International from $1,212.00 to $1,360.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Finally, Evercore ISI increased their price objective on Mettler-Toledo International from $1,200.00 to $1,300.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $1,257.14.

Mettler-Toledo International Price Performance

MTD stock opened at $1,479.29 on Friday. The stock has a market capitalization of $31.60 billion, a price-to-earnings ratio of 41.48, a P/E/G ratio of 4.03 and a beta of 1.16. The business has a fifty day moving average price of $1,323.58 and a 200 day moving average price of $1,224.89. Mettler-Toledo International Inc. has a fifty-two week low of $928.49 and a fifty-two week high of $1,535.86.

Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $8.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.61 by $1.28. Mettler-Toledo International had a negative return on equity of 662.32% and a net margin of 20.55%. The business had revenue of $925.95 million during the quarter, compared to analysts’ expectations of $879.72 million. During the same period in the previous year, the business posted $8.69 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities analysts expect that Mettler-Toledo International Inc. will post 40.12 earnings per share for the current fiscal year.

Insider Transactions at Mettler-Toledo International

In other news, insider Christian Magloth sold 400 shares of Mettler-Toledo International stock in a transaction on Monday, March 4th. The stock was sold at an average price of $1,278.73, for a total value of $511,492.00. Following the completion of the sale, the insider now directly owns 734 shares of the company’s stock, valued at approximately $938,587.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Mettler-Toledo International news, Director Thomas P. Salice sold 1,268 shares of Mettler-Toledo International stock in a transaction on Monday, May 13th. The shares were sold at an average price of $1,490.18, for a total transaction of $1,889,548.24. Following the completion of the sale, the director now owns 244 shares of the company’s stock, valued at approximately $363,603.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christian Magloth sold 400 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $1,278.73, for a total value of $511,492.00. Following the completion of the transaction, the insider now directly owns 734 shares in the company, valued at approximately $938,587.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,678 shares of company stock worth $5,383,341. Corporate insiders own 1.94% of the company’s stock.

Mettler-Toledo International Profile

Mettler-Toledo International Inc manufactures and supplies precision instruments and services in the Americas, Europe, Asia, and internationally. It operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company's laboratory instruments include laboratory balances, liquid pipetting solutions, automated laboratory reactors, real-time analytics, titrators, pH meters, process analytics sensors and analyzer technologies, physical value analyzers, density and refractometry, thermal analysis systems, and other analytical instruments; and LabX, a laboratory software platform to manage and analyze data generated from its instruments.Its industrial instruments comprise industrial weighing instruments and related terminals, automatic dimensional measurement and data capture solutions, vehicle scale systems, industrial software, metal detection equipment, x-ray systems, check weighing equipment, camera-based imaging equipment, track-and-trace solutions, and product inspection systems.