3M (NYSE:MMM) Stock Rating Upgraded by JPMorgan Chase & Co.

3M (NYSE:MMM) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Friday, Marketbeat reports. The brokerage presently has a $180.00 target price on the conglomerate’s stock, up from their prior target price of $178.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 12.63% from the stock’s current price.

A number of other equities research analysts also recently weighed in on MMM. Jefferies Financial Group raised their target price on shares of 3M from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Monday, June 29th. The Goldman Sachs Group raised shares of 3M to a “buy” rating and set a $190.00 price target for the company in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of 3M from $181.00 to $171.00 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. Royal Bank Of Canada lowered their price objective on shares of 3M from $133.00 to $123.00 and set an “underperform” rating on the stock in a research report on Thursday. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of 3M in a report on Thursday, July 9th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $169.43.

3M Price Performance

Shares of NYSE MMM opened at $159.81 on Friday. The stock’s 50-day simple moving average is $156.11 and its two-hundred day simple moving average is $156.14. 3M has a twelve month low of $139.34 and a twelve month high of $177.41. The firm has a market capitalization of $83.35 billion, a P/E ratio of 30.79, a P/E/G ratio of 2.25 and a beta of 1.02. The company has a quick ratio of 1.19, a current ratio of 1.59 and a debt-to-equity ratio of 3.29.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. 3M had a return on equity of 104.75% and a net margin of 11.14%.The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter last year, the company posted $1.88 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. As a group, equities analysts anticipate that 3M will post 8.74 EPS for the current fiscal year.

Institutional Trading of 3M

Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Retirement Investments LLC purchased a new position in shares of 3M during the fourth quarter worth approximately $28,000. EQ Wealth Advisors LLC purchased a new stake in shares of 3M in the 4th quarter valued at $40,000. Sfam LLC purchased a new stake in shares of 3M in the 4th quarter valued at $45,000. Cornerstone Planning Group LLC grew its holdings in shares of 3M by 32.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 71 shares during the last quarter. Finally, WFA of San Diego LLC bought a new position in shares of 3M during the 2nd quarter valued at $61,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

About 3M

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M’s businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).