3M (NYSE:MMM) had its price objective upped by analysts at Citigroup from $268.00 to $278.00 in a research note issued to investors on Tuesday. The firm presently has a “buy” rating on the conglomerate’s stock. Citigroup’s target price would indicate a potential upside of 12.86% from the stock’s current price.
Several other analysts have also recently issued reports on the stock. Argus reissued a “buy” rating on shares of 3M in a research note on Friday, December 22nd. Bank of America boosted their price objective on shares of 3M from $227.00 to $257.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Zacks Investment Research cut shares of 3M from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Credit Suisse Group reissued an “outperform” rating and set a $237.00 price objective (up from $229.00) on shares of 3M in a research note on Wednesday, October 11th. Finally, JPMorgan Chase & Co. cut shares of 3M from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $185.00 to $201.00 in a research note on Wednesday, September 20th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $233.68.
3M (MMM) traded up $1.85 during mid-day trading on Tuesday, reaching $246.32. 343,443 shares of the company’s stock traded hands, compared to its average volume of 1,985,600. The stock has a market cap of $145,610.00, a PE ratio of 27.49, a P/E/G ratio of 2.43 and a beta of 1.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47. 3M has a 12-month low of $173.55 and a 12-month high of $246.00.
In related news, insider Jon T. Lindekugel sold 400 shares of 3M stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $230.06, for a total transaction of $92,024.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Frank R. Jr. Little sold 1,500 shares of 3M stock in a transaction on Friday, October 27th. The shares were sold at an average price of $234.47, for a total transaction of $351,705.00. The disclosure for this sale can be found here. Insiders have sold a total of 22,804 shares of company stock worth $5,303,706 in the last 90 days. Company insiders own 0.58% of the company’s stock.
Several large investors have recently bought and sold shares of MMM. Capital Research Global Investors acquired a new position in shares of 3M during the 2nd quarter valued at $89,237,000. Coho Partners Ltd. lifted its holdings in shares of 3M by 26.8% during the 2nd quarter. Coho Partners Ltd. now owns 687,532 shares of the conglomerate’s stock valued at $143,137,000 after acquiring an additional 145,318 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of 3M during the 3rd quarter valued at $28,564,000. Capital Wealth Planning LLC lifted its holdings in shares of 3M by 1,854.3% during the 2nd quarter. Capital Wealth Planning LLC now owns 131,427 shares of the conglomerate’s stock valued at $27,362,000 after acquiring an additional 124,702 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in 3M by 4.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,916,848 shares of the conglomerate’s stock worth $399,069,000 after buying an additional 89,307 shares in the last quarter. Institutional investors and hedge funds own 66.23% 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.
