3M (MMM) PT Raised to $240.00

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.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.12. 3M had a return on equity of 48.55% and a net margin of 17.71%. The company had revenue of $8.17 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter in the previous year, the company posted $2.15 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. equities analysts forecast that 3M will post 9.09 earnings per share for the current fiscal year.

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.

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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.

Analyst Recommendations for 3M (NYSE:MMM)