3M (NYSE:MMM) Shares Purchased by Lincoln National Corp

Lincoln National Corp boosted its position in 3M (NYSE:MMMGet Rating) by 10.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,516 shares of the conglomerate’s stock after purchasing an additional 1,817 shares during the quarter. Lincoln National Corp’s holdings in 3M were worth $2,046,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MMM. Cetera Advisor Networks LLC grew its holdings in 3M by 10.6% in the 2nd quarter. Cetera Advisor Networks LLC now owns 105,769 shares of the conglomerate’s stock valued at $13,687,000 after buying an additional 10,105 shares during the period. Clear Harbor Asset Management LLC grew its holdings in 3M by 184.6% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 7,417 shares of the conglomerate’s stock valued at $960,000 after buying an additional 4,811 shares during the period. Wealthfront Advisers LLC grew its holdings in 3M by 22.0% in the 2nd quarter. Wealthfront Advisers LLC now owns 39,356 shares of the conglomerate’s stock valued at $5,093,000 after buying an additional 7,086 shares during the period. Key Financial Inc grew its holdings in 3M by 184.0% in the 3rd quarter. Key Financial Inc now owns 3,209 shares of the conglomerate’s stock valued at $355,000 after buying an additional 2,079 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd grew its holdings in 3M by 494.3% in the 2nd quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 5,141 shares of the conglomerate’s stock valued at $665,000 after buying an additional 4,276 shares during the period. Institutional investors and hedge funds own 65.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Mizuho lowered their price target on 3M from $140.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft boosted their target price on 3M from $126.00 to $127.00 in a report on Wednesday, October 26th. Wells Fargo & Company boosted their target price on 3M from $123.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, January 19th. Royal Bank of Canada boosted their target price on 3M from $107.00 to $113.00 and gave the stock an “underperform” rating in a report on Wednesday, October 26th. Finally, Barclays decreased their target price on 3M from $137.00 to $130.00 and set an “underweight” rating for the company in a report on Monday, October 3rd. Three research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $133.79.

3M Stock Performance

MMM stock opened at $122.62 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 0.97 and a debt-to-equity ratio of 0.98. The firm has a market cap of $67.78 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.25 and a beta of 1.00. 3M has a 12-month low of $107.07 and a 12-month high of $175.25. The stock’s 50 day simple moving average is $124.89 and its 200 day simple moving average is $126.29.

3M (NYSE:MMMGet Rating) last posted its quarterly earnings results on Tuesday, October 25th. The conglomerate reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.08. The business had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.70 billion. 3M had a return on equity of 40.03% and a net margin of 18.91%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.45 EPS. As a group, equities research analysts predict that 3M will post 10.17 EPS for the current year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Friday, November 18th were given a $1.49 dividend. This represents a $5.96 annualized dividend and a yield of 4.86%. The ex-dividend date was Thursday, November 17th. 3M’s dividend payout ratio is presently 51.92%.

Insiders Place Their Bets

In other 3M news, EVP Kevin H. Rhodes sold 5,703 shares of the stock in a transaction on Friday, October 28th. The stock was sold at an average price of $126.40, for a total value of $720,859.20. Following the sale, the executive vice president now directly owns 2,033 shares of the company’s stock, valued at $256,971.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other 3M news, EVP Kevin H. Rhodes sold 5,703 shares of the stock in a transaction on Friday, October 28th. The stock was sold at an average price of $126.40, for a total value of $720,859.20. Following the sale, the executive vice president now directly owns 2,033 shares of the company’s stock, valued at $256,971.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of the stock in a transaction on Friday, October 28th. The stock was sold at an average price of $126.28, for a total value of $135,245.88. Following the completion of the sale, the senior vice president now directly owns 3,313 shares in the company, valued at $418,365.64. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

About 3M

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3M Co is a technology company, which manufactures industrial, safety, and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, Consumer, and Corporate and Unallocated. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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