3M (NYSE:MMM) had its price objective increased by Deutsche Bank from $180.00 to $240.00 in a report released on Wednesday morning, MarketBeat Ratings reports. They currently have a hold rating on the conglomerate’s stock.
Several other equities analysts have also recently issued reports on the stock. Bank of America boosted their target price on shares of 3M from $227.00 to $257.00 and gave the company a buy rating in a research note on Wednesday, October 25th. Argus reiterated a buy rating on shares of 3M in a research note on Friday, December 22nd. Zacks Investment Research cut shares of 3M from a hold rating to a sell rating in a research note on Tuesday, October 3rd. Credit Suisse Group reiterated an outperform rating and issued a $237.00 target price (up from $229.00) on shares of 3M in a research note on Wednesday, October 11th. Finally, JPMorgan Chase & Co. cut shares of 3M from a neutral rating to an underweight rating and boosted their target price for the company from $185.00 to $201.00 in a research note on Wednesday, September 20th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $232.15.
3M (NYSE MMM) traded up $2.16 on Wednesday, hitting $244.47. 1,955,100 shares of the company traded hands, compared to its average volume of 1,697,914. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.07. 3M has a 1 year low of $173.55 and a 1 year high of $246.00. The firm has a market cap of $145,608.28, a PE ratio of 27.32, a P/E/G ratio of 2.43 and a beta of 1.10.
3M (NYSE:MMM) last posted its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. 3M had a net margin of 17.71% and a return on equity of 48.55%. The firm had revenue of $8.17 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the previous year, the business posted $2.15 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. analysts forecast that 3M will post 9.1 earnings per share for the current fiscal year.
In other news, insider Jon T. Lindekugel sold 400 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $230.06, for a total transaction of $92,024.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Frank R. Jr. Little sold 1,500 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $234.47, for a total transaction of $351,705.00. The disclosure for this sale can be found here. In the last three months, insiders sold 22,804 shares of company stock valued at $5,303,706. 0.58% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Kopp Investment Advisors LLC grew its holdings in shares of 3M by 0.4% during the second quarter. Kopp Investment Advisors LLC now owns 5,281 shares of the conglomerate’s stock worth $1,099,000 after buying an additional 20 shares in the last quarter. Smith Chas P & Associates PA Cpas grew its holdings in shares of 3M by 2.0% during the second quarter. Smith Chas P & Associates PA Cpas now owns 1,991 shares of the conglomerate’s stock worth $414,000 after buying an additional 39 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of 3M by 1.8% during the second quarter. Parallel Advisors LLC now owns 3,101 shares of the conglomerate’s stock worth $624,000 after buying an additional 55 shares in the last quarter. Capital Advantage Inc. grew its holdings in shares of 3M by 4.8% during the second quarter. Capital Advantage Inc. now owns 1,816 shares of the conglomerate’s stock worth $378,000 after buying an additional 83 shares in the last quarter. Finally, Sandhill Capital Partners LLC grew its holdings in shares of 3M by 0.5% during the second quarter. Sandhill Capital Partners LLC now owns 16,851 shares of the conglomerate’s stock worth $3,508,000 after buying an additional 88 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.
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3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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