3M (NYSE:MMM) PT Raised to $126.00 at Citigroup

3M (NYSE:MMMGet Rating) had its price objective upped by equities researchers at Citigroup from $117.00 to $126.00 in a research note issued on Friday, The Fly reports.

Several other analysts have also recently commented on MMM. Royal Bank of Canada increased 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. Bank of America lowered their price objective on shares of 3M from $165.00 to $140.00 in a research report on Friday, September 2nd. UBS Group raised shares of 3M from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $118.00 to $126.00 in a research note on Friday, September 9th. Wells Fargo & Company decreased their price target on shares of 3M from $125.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 26th. Finally, StockNews.com started coverage on shares of 3M in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $133.57.

3M Stock Down 0.3 %

MMM opened at $126.00 on Friday. The firm has a market cap of $69.65 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 1.30 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.97 and a current ratio of 1.56. The firm’s 50-day simple moving average is $121.71 and its 200-day simple moving average is $129.56. 3M has a twelve month low of $107.07 and a twelve month high of $181.78.

3M (NYSE:MMMGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The conglomerate reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.08. The firm had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $8.70 billion. 3M had a net margin of 18.91% and a return on equity of 40.03%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.45 earnings per share. Equities research analysts anticipate that 3M will post 10.22 EPS for the current fiscal year.

Insider Buying and Selling at 3M

In other news, EVP Kevin H. Rhodes sold 5,703 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $126.40, for a total transaction of $720,859.20. Following the completion of the transaction, the executive vice president now directly owns 2,033 shares in the company, valued at approximately $256,971.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Kevin H. Rhodes sold 5,703 shares of 3M stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $126.40, for a total transaction of $720,859.20. Following the transaction, the executive vice president now owns 2,033 shares of the company’s stock, valued at approximately $256,971.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $126.28, for a total transaction of $135,245.88. Following the transaction, the senior vice president now owns 3,313 shares of the company’s stock, valued at approximately $418,365.64. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Institutional Trading of 3M

A number of large investors have recently made changes to their positions in the company. Gradient Investments LLC raised its position in shares of 3M by 4.9% during the second quarter. Gradient Investments LLC now owns 92,776 shares of the conglomerate’s stock worth $12,006,000 after purchasing an additional 4,375 shares during the period. Cetera Advisor Networks LLC raised its holdings in 3M by 10.6% during the 2nd quarter. Cetera Advisor Networks LLC now owns 105,769 shares of the conglomerate’s stock worth $13,687,000 after buying an additional 10,105 shares during the period. Clear Harbor Asset Management LLC lifted its stake in 3M by 184.6% in the second 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 in the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of 3M by 22.0% in the second 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. Finally, Allworth Financial LP increased its position in shares of 3M by 11.4% during the second quarter. Allworth Financial LP now owns 12,452 shares of the conglomerate’s stock worth $1,611,000 after acquiring an additional 1,273 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

3M Company Profile

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3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.

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