Royal Bank Of Canada Cuts 3M (NYSE:MMM) Price Target to $123.00

3M (NYSE:MMM) had its target price trimmed by Royal Bank Of Canada from $133.00 to $123.00 in a research note released on Thursday,Benzinga reports. The firm currently has an underperform rating on the conglomerate’s stock.

A number of other equities analysts have also commented on MMM. Citigroup cut their price objective on shares of 3M from $175.00 to $166.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. JPMorgan Chase & Co. lowered their target price on 3M from $182.00 to $178.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. The Goldman Sachs Group raised 3M to a “buy” rating and set a $190.00 target price on the stock in a research report on Monday, June 15th. Sanford C. Bernstein assumed coverage on 3M in a research note on Tuesday, June 9th. They issued an “underperform” rating and a $131.00 price target on the stock. Finally, Weiss Ratings downgraded 3M from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 1st. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, 3M currently has an average rating of “Hold” and an average target price of $169.43.

3M Trading Down 1.2%

MMM opened at $159.81 on Thursday. 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 firm’s 50 day moving average is $156.11 and its 200-day moving average is $156.14. 3M has a 52-week low of $139.34 and a 52-week high of $177.41. 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 posted its earnings results on Tuesday, April 21st. The conglomerate reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.04 billion. 3M had a net margin of 11.14% and a return on equity of 104.75%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.88 earnings per share. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. Analysts expect that 3M will post 8.74 EPS for the current fiscal year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 22nd were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, May 22nd. 3M’s dividend payout ratio (DPR) is currently 60.12%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. American Trust boosted its holdings in shares of 3M by 3.4% in the fourth quarter. American Trust now owns 1,803 shares of the conglomerate’s stock valued at $289,000 after acquiring an additional 60 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV increased its position in shares of 3M by 1.0% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 6,045 shares of the conglomerate’s stock valued at $938,000 after purchasing an additional 61 shares during the period. Cornerstone Planning Group LLC raised its stake in shares of 3M by 32.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock worth $42,000 after buying an additional 71 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in shares of 3M by 4.2% in the 4th quarter. Harbor Investment Advisory LLC now owns 1,802 shares of the conglomerate’s stock worth $288,000 after buying an additional 72 shares in the last quarter. Finally, Morse Asset Management Inc lifted its holdings in shares of 3M by 0.7% in the fourth quarter. Morse Asset Management Inc now owns 10,713 shares of the conglomerate’s stock valued at $1,715,000 after buying an additional 75 shares during the period. Institutional investors own 65.25% of the company’s stock.

3M Company Profile

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).