PNC Financial Services Group Inc. Raises Position in Mettler-Toledo International Inc. (NYSE:MTD)

PNC Financial Services Group Inc. lifted its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 34.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,588 shares of the medical instruments supplier’s stock after purchasing an additional 2,705 shares during the quarter. PNC Financial Services Group Inc. owned about 0.05% of Mettler-Toledo International worth $12,956,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Verdence Capital Advisors LLC increased its position in Mettler-Toledo International by 18.8% during the third quarter. Verdence Capital Advisors LLC now owns 202 shares of the medical instruments supplier’s stock valued at $303,000 after acquiring an additional 32 shares during the last quarter. Assetmark Inc. grew its holdings in Mettler-Toledo International by 14.1% during the 3rd quarter. Assetmark Inc. now owns 437 shares of the medical instruments supplier’s stock valued at $655,000 after purchasing an additional 54 shares during the last quarter. Axxcess Wealth Management LLC raised its position in Mettler-Toledo International by 2.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 815 shares of the medical instruments supplier’s stock worth $1,222,000 after purchasing an additional 21 shares during the period. Crossmark Global Holdings Inc. lifted its stake in Mettler-Toledo International by 39.1% in the third quarter. Crossmark Global Holdings Inc. now owns 2,531 shares of the medical instruments supplier’s stock worth $3,796,000 after purchasing an additional 711 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Mettler-Toledo International during the third quarter valued at approximately $37,000. Institutional investors own 95.07% of the company’s stock.

Insiders Place Their Bets

In other news, insider Christian Magloth sold 790 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the sale, the insider now directly owns 734 shares in the company, valued at approximately $964,248.46. This trade represents a 51.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gerry Keller sold 600 shares of Mettler-Toledo International stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,351.34, for a total transaction of $810,804.00. Following the completion of the transaction, the insider now directly owns 6 shares in the company, valued at approximately $8,108.04. The trade was a 99.01 % decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is owned by company insiders.

Mettler-Toledo International Price Performance

NYSE:MTD opened at $1,243.20 on Wednesday. Mettler-Toledo International Inc. has a 1-year low of $1,142.91 and a 1-year high of $1,546.93. The company has a 50-day moving average of $1,295.68 and a 200 day moving average of $1,321.07. The firm has a market cap of $26.00 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 3.30 and a beta of 1.15.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, February 13th. The medical instruments supplier reported $12.41 earnings per share for the quarter, topping the consensus estimate of $11.76 by $0.65. Mettler-Toledo International had a net margin of 22.29% and a negative return on equity of 591.54%. Sell-side analysts anticipate that Mettler-Toledo International Inc. will post 42.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MTD has been the topic of several recent analyst reports. Evercore ISI increased their price target on Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Citigroup reduced their target price on Mettler-Toledo International from $1,450.00 to $1,400.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Wolfe Research assumed coverage on shares of Mettler-Toledo International in a research note on Friday, December 13th. They set a “peer perform” rating for the company. Robert W. Baird raised their price target on shares of Mettler-Toledo International from $1,362.00 to $1,369.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company boosted their price objective on shares of Mettler-Toledo International from $1,350.00 to $1,400.00 and gave the company an “equal weight” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $1,380.50.

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.