Hartford Investment Management Co. Sells 32 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Hartford Investment Management Co. trimmed its position in Mettler-Toledo International Inc. (NYSE:MTD) by 2.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,337 shares of the medical instruments supplier’s stock after selling 32 shares during the quarter. Hartford Investment Management Co.’s holdings in Mettler-Toledo International were worth $2,005,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MTD. Daiwa Securities Group Inc. raised its position in shares of Mettler-Toledo International by 36.6% during the first quarter. Daiwa Securities Group Inc. now owns 2,682 shares of the medical instruments supplier’s stock worth $3,570,000 after purchasing an additional 719 shares during the period. Norden Group LLC lifted its stake in shares of Mettler-Toledo International by 2,701.7% in the first quarter. Norden Group LLC now owns 6,640 shares of the medical instruments supplier’s stock valued at $8,840,000 after buying an additional 6,403 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Mettler-Toledo International by 6.2% during the first quarter. BNP Paribas Financial Markets now owns 28,128 shares of the medical instruments supplier’s stock valued at $37,447,000 after buying an additional 1,636 shares during the last quarter. Gateway Investment Advisers LLC acquired a new stake in shares of Mettler-Toledo International in the 2nd quarter worth about $685,000. Finally, Diversified Trust Co lifted its position in Mettler-Toledo International by 24.2% in the 1st quarter. Diversified Trust Co now owns 4,080 shares of the medical instruments supplier’s stock valued at $5,432,000 after acquiring an additional 794 shares in the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

Mettler-Toledo International Stock Performance

Shares of MTD stock opened at $1,293.38 on Friday. The firm has a market cap of $27.62 billion, a price-to-earnings ratio of 36.27, a P/E/G ratio of 4.24 and a beta of 1.14. Mettler-Toledo International Inc. has a 52 week low of $928.49 and a 52 week high of $1,546.93. The firm’s 50-day simple moving average is $1,421.35 and its two-hundred day simple moving average is $1,394.57.

Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 EPS for the quarter, topping analysts’ consensus estimates of $9.00 by $0.65. Mettler-Toledo International had a net margin of 20.95% and a negative return on equity of 575.61%. The company had revenue of $946.75 million for the quarter, compared to analysts’ expectations of $929.13 million. During the same quarter in the previous year, the firm posted $10.19 EPS. Mettler-Toledo International’s revenue was down 3.6% on a year-over-year basis. Analysts forecast that Mettler-Toledo International Inc. will post 40.35 earnings per share for the current year.

Insider Transactions at Mettler-Toledo International

In related news, insider Christian Magloth sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $1,422.97, for a total value of $1,422,970.00. Following the sale, the insider now directly owns 734 shares in the company, valued at approximately $1,044,459.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Shawn Vadala sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $1,401.00, for a total value of $350,250.00. Following the completion of the transaction, the chief financial officer now directly owns 4,914 shares of the company’s stock, valued at approximately $6,884,514. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christian Magloth sold 1,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $1,422.97, for a total transaction of $1,422,970.00. Following the sale, the insider now directly owns 734 shares in the company, valued at $1,044,459.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MTD. Evercore ISI increased their price objective on Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group raised their price objective on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. Stifel Nicolaus upped their target price on shares of Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. StockNews.com upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Finally, Wells Fargo & Company began coverage on shares of Mettler-Toledo International in a report on Tuesday, August 27th. They set an “equal weight” rating and a $1,400.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $1,363.75.

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.