3M (NYSE:MMM) had its target price increased by research analysts at Deutsche Bank from $180.00 to $240.00 in a report issued on Wednesday. The firm currently has a “hold” rating on the conglomerate’s stock. Deutsche Bank’s price objective would suggest a potential downside of 0.47% from the stock’s current price.
Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of 3M from a “buy” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus raised their price objective on shares of 3M from $220.00 to $244.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Morgan Stanley raised their price objective on shares of 3M from $190.00 to $201.00 and gave the company an “underweight” rating in a research note on Monday, October 2nd. Goldman Sachs Group reiterated a “sell” rating on shares of 3M in a research note on Thursday, October 26th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $205.00 price objective on shares of 3M in a research note on Friday, October 13th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $232.15.
3M (MMM) traded down $0.14 on Wednesday, hitting $241.14. The stock had a trading volume of 1,630,000 shares, compared to its average volume of 2,030,000. The company has a market capitalization of $143,620.00, a PE ratio of 26.91, a PEG ratio of 2.39 and a beta of 1.10. 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 52 week low of $173.55 and a 52 week high of $244.23.
In other 3M news, insider Frank R. Jr. Little sold 1,500 shares of 3M stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $234.47, for a total value of $351,705.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Khandpur K. Ashish sold 4,004 shares of 3M stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $231.39, for a total transaction of $926,485.56. Following the completion of the transaction, the vice president now owns 5,236 shares in the company, valued at approximately $1,211,558.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,804 shares of company stock worth $5,303,706. 0.58% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of MMM. Green Square Capital LLC purchased a new position in 3M during the 1st quarter worth approximately $660,000. Meridian Wealth Management LLC grew its position in 3M by 34.8% during the 1st quarter. Meridian Wealth Management LLC now owns 1,548 shares of the conglomerate’s stock worth $296,000 after purchasing an additional 400 shares in the last quarter. Financial Advisors Network Inc. grew its position in 3M by 8.7% during the 1st quarter. Financial Advisors Network Inc. now owns 5,089 shares of the conglomerate’s stock worth $1,003,000 after purchasing an additional 408 shares in the last quarter. American National Bank grew its position in 3M by 68.9% during the 2nd quarter. American National Bank now owns 1,630 shares of the conglomerate’s stock worth $339,000 after purchasing an additional 665 shares in the last quarter. Finally, Lau Associates LLC grew its position in 3M by 43.8% during the 2nd quarter. Lau Associates LLC now owns 17,236 shares of the conglomerate’s stock worth $3,588,000 after purchasing an additional 5,250 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.
3M Company Profile
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.