Illinois Municipal Retirement Fund Reduces Position in Mettler-Toledo International Inc. (NYSE:MTD)

Illinois Municipal Retirement Fund lowered its holdings in Mettler-Toledo International Inc. (NYSE:MTD) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,348 shares of the medical instruments supplier’s stock after selling 718 shares during the period. Illinois Municipal Retirement Fund’s holdings in Mettler-Toledo International were worth $8,992,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MTD. Blue Trust Inc. boosted its stake in shares of Mettler-Toledo International by 242.9% during the 3rd quarter. Blue Trust Inc. now owns 24 shares of the medical instruments supplier’s stock valued at $34,000 after buying an additional 17 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Mettler-Toledo International in the third quarter valued at $37,000. Sound Income Strategies LLC boosted its stake in Mettler-Toledo International by 4,500.0% during the 4th quarter. Sound Income Strategies LLC now owns 46 shares of the medical instruments supplier’s stock valued at $56,000 after acquiring an additional 45 shares during the last quarter. Huntington National Bank grew its holdings in Mettler-Toledo International by 20.0% during the 3rd quarter. Huntington National Bank now owns 54 shares of the medical instruments supplier’s stock worth $81,000 after acquiring an additional 9 shares in the last quarter. Finally, Itau Unibanco Holding S.A. increased its position in shares of Mettler-Toledo International by 80.0% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 54 shares of the medical instruments supplier’s stock worth $81,000 after purchasing an additional 24 shares during the last quarter. Institutional investors and hedge funds own 95.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MTD. Wolfe Research began coverage on shares of Mettler-Toledo International in a research report on Friday, December 13th. They set a “peer perform” rating on the stock. Citigroup upgraded Mettler-Toledo International from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $1,200.00 to $1,300.00 in a research report on Wednesday, December 11th. Evercore ISI raised their price objective on Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Robert W. Baird lifted their price objective on shares of Mettler-Toledo International from $1,362.00 to $1,369.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Wells Fargo & Company increased their target price on shares of Mettler-Toledo International from $1,350.00 to $1,400.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $1,368.00.

Insider Buying and Selling

In related news, insider Gerry Keller sold 600 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,351.34, for a total value of $810,804.00. Following the completion of the sale, the insider now owns 6 shares of the company’s stock, valued at $8,108.04. This represents a 99.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.94% of the company’s stock.

Mettler-Toledo International Stock Performance

Shares of MTD opened at $1,310.50 on Wednesday. The firm has a fifty day moving average of $1,287.86 and a 200-day moving average of $1,331.78. The company has a market cap of $27.42 billion, a price-to-earnings ratio of 32.33, a price-to-earnings-growth ratio of 3.30 and a beta of 1.13. Mettler-Toledo International Inc. has a 1 year low of $1,142.91 and a 1 year high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last posted its earnings results on Thursday, February 13th. The medical instruments supplier reported $12.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Analysts predict that Mettler-Toledo International Inc. will post 42.71 EPS for the current year.

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.