Mettler-Toledo International, Inc. $MTD Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD – Free Report) by 5.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,573 shares of the medical instruments supplier’s stock after selling 475 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Mettler-Toledo International were worth $11,442,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. New York Life Investment Management LLC grew its position in Mettler-Toledo International by 0.6% in the 3rd quarter. New York Life Investment Management LLC now owns 3,466 shares of the medical instruments supplier’s stock valued at $5,237,000 after buying an additional 20 shares in the last quarter. 71 West Capital Partners acquired a new position in Mettler-Toledo International during the 3rd quarter valued at about $249,000. AlphaCore Capital LLC acquired a new position in Mettler-Toledo International during the 3rd quarter valued at about $322,000. Fulcrum Asset Management LLP raised its position in shares of Mettler-Toledo International by 103.1% during the 3rd quarter. Fulcrum Asset Management LLP now owns 6,580 shares of the medical instruments supplier’s stock worth $10,116,000 after buying an additional 3,340 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Mettler-Toledo International by 9.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 951 shares of the medical instruments supplier’s stock worth $1,409,000 after buying an additional 85 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Patrick Kaltenbach sold 942 shares of the 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 transaction of $1,342,350.00. Following the completion of the sale, the chief executive officer directly owned 4,480 shares of the company’s stock, valued at $6,384,000. This represents a 17.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gerry Keller sold 435 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $1,734.05, for a total transaction of $754,311.75. Following the sale, the insider owned 259 shares of the company’s stock, valued at $449,118.95. The trade was a 62.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.71% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on MTD shares. JPMorgan Chase & Co. upped their price target on shares of Mettler-Toledo International from $1,550.00 to $1,725.00 and gave the stock a “neutral” rating in a research note on Monday. Morgan Stanley raised their price objective 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 note on Tuesday, October 13th. Wells Fargo & Company boosted their target price on Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Barclays upped their target price on Mettler-Toledo International from $1,700.00 to $1,900.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Stifel Nicolaus increased their price target on Mettler-Toledo International from $1,600.00 to $1,900.00 and gave the company a “buy” rating in a research note on Monday. Six equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $1,595.77.

View Our Latest Research Report on Mettler-Toledo International

Mettler-Toledo International Price Performance

Shares of Mettler-Toledo International stock opened at $1,750.03 on Thursday. The company has a current ratio of 1.10, a quick ratio of 0.75 and a debt-to-equity ratio of 25.28. The company’s 50-day moving average price is $1,546.33 and its two-hundred day moving average price is $1,350.82. Mettler-Toledo International, Inc. has a 52 week low of $1,023.05 and a 52 week high of $1,806.58. The stock has a market cap of $34.81 billion, a PE ratio of 37.92, a price-to-earnings-growth ratio of 3.49 and a beta of 1.16.

Mettler-Toledo International (NYSE:MTD – Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The medical instruments supplier reported $12.57 earnings per share for the quarter, beating analysts’ consensus estimates of $12.13 by $0.44. Mettler-Toledo International had a net margin of 22.25% and a return on equity of 15,012.71%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the company earned $11.15 EPS. Mettler-Toledo International’s revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Mettler-Toledo International, Inc. will post 47.83 EPS for the current fiscal year.

About Mettler-Toledo International

(Free Report)

Mettler-Toledo International develops and manufactures precision instruments and systems used in laboratory, industrial, and retail settings. Its products include laboratory balances and analytical instruments, industrial scales and weighing systems, and equipment for measuring and monitoring production processes. The company also supplies product-inspection systems, including checkweighers, metal detectors, and X-ray inspection equipment, along with related software, installation, maintenance, and calibration services.

Further Reading

Institutional Ownership by Quarter for Mettler-Toledo International (NYSE:MTD)

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