AIA Group Ltd Purchases 6,037 Shares of Mettler-Toledo International, Inc. $MTD

Key Points

• AIA Group increased its Mettler-Toledo stake by 36.1% in the third quarter, buying 6,037 shares and bringing its holdings to 22,774 shares, valued at about $34.4 million.
• Mettler-Toledo shares opened at $1,696.42, near their 52-week high of $1,728.66. Analysts’ consensus rating was “Hold,” with an average price target of $1,469.15.
• CEO Patrick Kaltenbach sold 942 shares for approximately $1.34 million, reducing his direct stake by 17.37%; company insiders own 0.71% of the stock.

AIA Group Ltd boosted its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 36.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,774 shares of the medical instruments supplier's stock after buying an additional 6,037 shares during the period. AIA Group Ltd owned about 0.11% of Mettler-Toledo International worth $34,410,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MTD. North Dakota State Investment Board grew its stake in shares of Mettler-Toledo International by 1.0% in the 3rd quarter. North Dakota State Investment Board now owns 617 shares of the medical instruments supplier's stock valued at $932,000 after purchasing an additional 6 shares during the period. Plan A Wealth LLC lifted its position in shares of Mettler-Toledo International by 1.9% during the 3rd quarter. Plan A Wealth LLC now owns 373 shares of the medical instruments supplier's stock worth $564,000 after buying an additional 7 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Mettler-Toledo International by 0.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,794 shares of the medical instruments supplier's stock worth $4,222,000 after buying an additional 7 shares during the period. Torray Investment Partners LLC boosted its stake in Mettler-Toledo International by 0.5% in the 1st quarter. Torray Investment Partners LLC now owns 1,677 shares of the medical instruments supplier's stock valued at $2,115,000 after buying an additional 8 shares in the last quarter. Finally, Frank Rimerman Advisors LLC boosted its stake in Mettler-Toledo International by 2.2% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 372 shares of the medical instruments supplier's stock valued at $562,000 after buying an additional 8 shares in the last quarter. Institutional investors own 95.07% of the company's stock.

Mettler-Toledo International Stock Up 1.1%

NYSE MTD opened at $1,696.42 on Wednesday. The stock has a fifty day moving average of $1,506.39 and a 200-day moving average of $1,342.11. The stock has a market capitalization of $34.00 billion, a P/E ratio of 37.39, a price-to-earnings-growth ratio of 3.38 and a beta of 1.16. Mettler-Toledo International, Inc. has a 52 week low of $1,023.05 and a 52 week high of $1,728.66. The company has a debt-to-equity ratio of 159.45, a quick ratio of 0.78 and a current ratio of 1.12.

Analysts Set New Price Targets

Several research firms have issued reports on MTD. Rothschild & Co Redburn began coverage on Mettler-Toledo International in a research note on Wednesday, September 2nd. They set a "sell" rating and a $1,200.00 price objective for the company. Weiss Ratings upgraded shares of Mettler-Toledo International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, October 19th. Wells Fargo & Company boosted their target price on shares of Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. Morgan Stanley boosted their price target on shares of Mettler-Toledo International from $1,450.00 to $1,575.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 13th. Finally, Royal Bank Of Canada assumed coverage on shares of Mettler-Toledo International in a research note on Tuesday, September 1st. They set a "sector perform" rating and a $1,515.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Mettler-Toledo International has an average rating of "Hold" and an average target price of $1,469.15.

Insider Activity

In other Mettler-Toledo International news, CEO Patrick Kaltenbach sold 942 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $1,425.00, for a total transaction of $1,342,350.00. Following the transaction, the chief executive officer directly owned 4,480 shares in the company, valued at approximately $6,384,000. This represents a 17.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.71% of the stock is owned by company insiders.

About Mettler-Toledo International

Mettler-Toledo International Inc NYSE: MTD develops and manufactures precision instruments and related services for laboratory, industrial, and retail applications. Its products help customers weigh, measure, analyze, inspect, and control materials and processes with high accuracy.

The company's laboratory offerings include balances and scales, analytical instruments, titration and pH systems, thermal analysis equipment, spectroscopy products, laboratory automation solutions, and associated software.

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