Sumitomo Mitsui Trust Group Inc. Sells 1,579 Shares of Mettler-Toledo International, Inc. $MTD

Key Points

• Sumitomo Mitsui Trust Group reduced its Mettler-Toledo stake by 3.6%, selling 1,579 shares, but still held 42,027 shares worth about $63.5 million at quarter-end.
• Institutional investors own 95.07% of the stock. Several major funds increased or initiated positions, including Wellington Management, which boosted its holdings by 908.6%.
• Analyst sentiment is mixed: six analysts rate MTD a Buy, eight a Hold, and one a Sell; the consensus price target is $1,469.15.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 3.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,027 shares of the medical instruments supplier's stock after selling 1,579 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.21% of Mettler-Toledo International worth $63,501,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MTD. XXEC Inc. bought a new position in shares of Mettler-Toledo International in the second quarter worth about $77,044,000. BlackRock Inc. purchased a new position in Mettler-Toledo International in the 2nd quarter worth about $2,404,713,000. Bank of New York Mellon Corp bought a new stake in Mettler-Toledo International during the 2nd quarter valued at about $762,553,000. Wellington Management Group LLP lifted its holdings in Mettler-Toledo International by 908.6% during the 2nd quarter. Wellington Management Group LLP now owns 459,064 shares of the medical instruments supplier's stock valued at $586,459,000 after buying an additional 413,547 shares in the last quarter. Finally, Amundi lifted its holdings in Mettler-Toledo International by 40.7% during the 2nd quarter. Amundi now owns 240,640 shares of the medical instruments supplier's stock valued at $307,420,000 after buying an additional 69,620 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MTD has been the topic of a number of research analyst reports. Barclays upped their target price on shares of Mettler-Toledo International from $1,575.00 to $1,700.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 7th. Stifel Nicolaus lifted their price target on shares of Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Jefferies Financial Group boosted their price target on Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a "buy" rating in a report on Friday, July 31st. Wells Fargo & Company boosted their price target on Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. Finally, Weiss Ratings raised Mettler-Toledo International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, October 19th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $1,469.15.

Insider Activity at Mettler-Toledo International

In other news, CEO Patrick Kaltenbach sold 942 shares of the company's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $1,425.00, for a total value of $1,342,350.00. Following the completion of the sale, the chief executive officer owned 4,480 shares of the company's stock, valued at approximately $6,384,000. This represents a 17.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.71% of the company's stock.

Mettler-Toledo International Stock Up 1.1%

NYSE:MTD opened at $1,696.42 on Wednesday. The company has a debt-to-equity ratio of 159.45, a current ratio of 1.12 and a quick ratio of 0.78. Mettler-Toledo International, Inc. has a 1-year low of $1,023.05 and a 1-year high of $1,728.66. The company has a 50-day moving average of $1,506.39 and a 200 day moving average of $1,342.11. The firm has a market cap of $34.00 billion, a PE ratio of 38.18, a price-to-earnings-growth ratio of 3.38 and a beta of 1.16.

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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