Principal Financial Group Inc. Sells 2,472 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Principal Financial Group Inc. trimmed its position in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 241,107 shares of the medical instruments supplier's stock after selling 2,472 shares during the period. Principal Financial Group Inc. owned approximately 1.14% of Mettler-Toledo International worth $361,588,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. PDS Planning Inc acquired a new stake in shares of Mettler-Toledo International during the third quarter valued at about $211,000. QRG Capital Management Inc. lifted its position in shares of Mettler-Toledo International by 9.1% during the third quarter. QRG Capital Management Inc. now owns 382 shares of the medical instruments supplier's stock worth $573,000 after purchasing an additional 32 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in Mettler-Toledo International by 4.6% in the third quarter. Asset Management One Co. Ltd. now owns 18,545 shares of the medical instruments supplier's stock valued at $27,812,000 after buying an additional 813 shares during the last quarter. National Pension Service lifted its stake in Mettler-Toledo International by 8.0% during the third quarter. National Pension Service now owns 34,039 shares of the medical instruments supplier's stock worth $51,048,000 after purchasing an additional 2,521 shares during the last quarter. Finally, Donaldson Capital Management LLC lifted its holdings in Mettler-Toledo International by 2.2% in the third quarter. Donaldson Capital Management LLC now owns 3,182 shares of the medical instruments supplier's stock worth $4,772,000 after acquiring an additional 68 shares during the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. JPMorgan Chase & Co. increased their target price on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a "neutral" rating in a research report on Monday, August 5th. Wells Fargo & Company initiated 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 for the company. Evercore ISI upped their price target on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an "in-line" rating in a research report on Tuesday, October 1st. Finally, StockNews.com upgraded shares of Mettler-Toledo International from a "hold" rating to a "buy" rating in a research report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $1,363.75.

Insiders Place Their Bets

In related news, insider Christian Magloth sold 1,000 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now owns 734 shares in the company, valued at $1,044,459.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.94% of the stock is owned by insiders.

Mettler-Toledo International Price Performance

Shares of NYSE MTD traded up $13.33 during midday trading on Thursday, reaching $1,411.52. 154,012 shares of the company traded hands, compared to its average volume of 132,793. The company has a market cap of $29.95 billion, a price-to-earnings ratio of 38.84, a PEG ratio of 3.99 and a beta of 1.16. The stock has a 50-day moving average price of $1,400.98 and a 200 day moving average price of $1,399.40. Mettler-Toledo International Inc. has a 52 week low of $953.28 and a 52 week high of $1,546.93.

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.