PNC Financial Services Group Inc. Sells 1,352 Shares of Mettler-Toledo International, Inc. (NYSE:MTD)

Key Points

• PNC Financial Services Group Inc. sold 1,352 shares of Mettler-Toledo International, reducing its stake by 12.8%, leaving it with 9,236 shares valued at approximately $10.9 million.
• Mettler-Toledo International reported impressive earnings, with $10.09 EPS that exceeded expectations, and a revenue increase of 3.9% year-over-year.
• Institutional investors control 95.07% of the stock, reflecting significant interest and investment in Mettler-Toledo International by large financial entities.

PNC Financial Services Group Inc. trimmed its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 12.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,236 shares of the medical instruments supplier's stock after selling 1,352 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Mettler-Toledo International were worth $10,907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of MTD. LPL Financial LLC grew its position in Mettler-Toledo International by 25.8% in the fourth quarter. LPL Financial LLC now owns 4,646 shares of the medical instruments supplier's stock valued at $5,686,000 after acquiring an additional 953 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in shares of Mettler-Toledo International in the 4th quarter valued at $7,971,000. Aviva PLC grew its holdings in shares of Mettler-Toledo International by 64.0% in the 4th quarter. Aviva PLC now owns 13,315 shares of the medical instruments supplier's stock worth $16,293,000 after purchasing an additional 5,195 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Mettler-Toledo International during the 4th quarter worth about $120,000. Finally, Federated Hermes Inc. lifted its holdings in Mettler-Toledo International by 7.1% during the 4th quarter. Federated Hermes Inc. now owns 5,131 shares of the medical instruments supplier's stock valued at $6,279,000 after purchasing an additional 339 shares during the last quarter. 95.07% of the stock is currently owned by institutional investors.

Mettler-Toledo International Stock Up 1.0%

Shares of MTD stock opened at $1,244.26 on Wednesday. The firm has a market cap of $25.63 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 3.70 and a beta of 1.34. Mettler-Toledo International, Inc. has a 12 month low of $946.69 and a 12 month high of $1,521.01. The stock has a 50-day moving average price of $1,197.57 and a 200 day moving average price of $1,192.45.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical instruments supplier reported $10.09 EPS for the quarter, topping the consensus estimate of $9.58 by $0.51. Mettler-Toledo International had a net margin of 21.46% and a negative return on equity of 476.07%. The company had revenue of $983.22 million during the quarter, compared to analysts' expectations of $957.41 million. During the same quarter in the previous year, the company earned $9.65 EPS. Mettler-Toledo International's revenue was up 3.9% on a year-over-year basis. Sell-side analysts predict that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Mettler-Toledo International

In other news, Director Michael A. Kelly sold 1,062 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $1,159.93, for a total value of $1,231,845.66. Following the transaction, the director directly owned 120 shares in the company, valued at $139,191.60. This trade represents a 89.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.77% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MTD has been the topic of several research analyst reports. Jefferies Financial Group raised shares of Mettler-Toledo International from an "underperform" rating to a "hold" rating and decreased their price objective for the stock from $1,200.00 to $1,110.00 in a research note on Monday, May 5th. Barclays assumed coverage on Mettler-Toledo International in a research report on Tuesday, June 24th. They set an "overweight" rating and a $1,325.00 price target on the stock. Wall Street Zen downgraded Mettler-Toledo International from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Evercore ISI reduced their price objective on Mettler-Toledo International from $1,280.00 to $1,275.00 and set an "outperform" rating on the stock in a research note on Monday. Finally, Wells Fargo & Company raised their target price on Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Mettler-Toledo International presently has an average rating of "Hold" and an average price target of $1,288.89.

About Mettler-Toledo International

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.

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