Sumitomo Mitsui Trust Group Inc. Sells 414 Shares of Mettler-Toledo International, Inc. (NYSE:MTD)

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 0.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,593 shares of the medical instruments supplier's stock after selling 414 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Mettler-Toledo International worth $57,384,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC raised its position in shares of Mettler-Toledo International by 14.3% during the 4th quarter. Farther Finance Advisors LLC now owns 64 shares of the medical instruments supplier's stock worth $78,000 after buying an additional 8 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in Mettler-Toledo International by 3.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 306 shares of the medical instruments supplier's stock valued at $374,000 after buying an additional 9 shares during the period. Atlantic Union Bankshares Corp lifted its stake in Mettler-Toledo International by 0.5% in the 4th quarter. Atlantic Union Bankshares Corp now owns 2,083 shares of the medical instruments supplier's stock worth $2,549,000 after acquiring an additional 10 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in Mettler-Toledo International by 1.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 627 shares of the medical instruments supplier's stock worth $740,000 after acquiring an additional 11 shares during the period. Finally, Congress Asset Management Co. grew its stake in Mettler-Toledo International by 1.8% during the 1st quarter. Congress Asset Management Co. now owns 667 shares of the medical instruments supplier's stock valued at $788,000 after acquiring an additional 12 shares in the last quarter. Institutional investors and hedge funds own 95.07% of the company's stock.

Insider Activity at Mettler-Toledo International

In related news, Director Michael A. Kelly sold 1,062 shares of Mettler-Toledo International stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $1,159.93, for a total transaction of $1,231,845.66. Following the sale, the director directly owned 120 shares of the company's stock, valued at $139,191.60. This trade represents a 89.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.77% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on MTD shares. Citigroup upgraded shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price target for the company in a report on Monday, April 7th. Barclays assumed coverage on shares of Mettler-Toledo International in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $1,325.00 target price for the company. Bank of America boosted their price target on shares of Mettler-Toledo International from $1,200.00 to $1,260.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Wells Fargo & Company increased their price objective on Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Finally, Robert W. Baird lowered their target price on Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Mettler-Toledo International has an average rating of "Hold" and a consensus price target of $1,300.36.

Mettler-Toledo International Price Performance

Shares of MTD stock traded up $1.72 during trading on Wednesday, reaching $1,207.01. The company had a trading volume of 63,546 shares, compared to its average volume of 149,935. The company has a market capitalization of $25.08 billion, a PE ratio of 30.08, a PEG ratio of 3.61 and a beta of 1.37. The firm's 50 day simple moving average is $1,142.07 and its two-hundred day simple moving average is $1,196.56. Mettler-Toledo International, Inc. has a one year low of $946.69 and a one year high of $1,546.93.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $8.19 earnings per share for the quarter, topping analysts' consensus estimates of $7.90 by $0.29. Mettler-Toledo International had a net margin of 22.17% and a negative return on equity of 556.22%. The business had revenue of $883.74 million during the quarter, compared to analysts' expectations of $876.61 million. During the same period in the previous year, the company earned $8.89 earnings per share. Mettler-Toledo International's revenue for the quarter was down 4.6% on a year-over-year basis. Analysts forecast that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current year.

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.