3M (NYSE:MMM) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of 3M (NYSE:MMM) from a neutral rating to an overweight rating in a report released on Friday, MarketBeat.com reports. JPMorgan Chase & Co. currently has $180.00 target price on the conglomerate’s stock, up from their prior target price of $178.00.

Several other brokerages also recently weighed in on MMM. Royal Bank Of Canada cut their target price on 3M from $133.00 to $123.00 and set an “underperform” rating on the stock in a research note on Thursday. The Goldman Sachs Group raised 3M to a “buy” rating and set a $190.00 price target for the company in a research note on Monday, June 15th. Weiss Ratings lowered 3M from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of 3M from $181.00 to $171.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Finally, Barclays reduced their price objective on shares of 3M from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $169.43.

3M Price Performance

NYSE MMM opened at $159.81 on Friday. The company has a 50-day moving average price of $156.11 and a two-hundred day moving average price of $156.11. 3M has a 52 week low of $139.34 and a 52 week high of $177.41. The stock has a market cap of $83.35 billion, a price-to-earnings ratio of 30.79, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. The company has a current ratio of 1.59, a quick ratio of 1.19 and a debt-to-equity ratio of 3.29.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share 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 company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter in the previous year, the company posted $1.88 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. Analysts forecast that 3M will post 8.74 EPS for the current year.

3M Dividend Announcement

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

Institutional Trading of 3M

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Retirement Investments LLC bought a new stake in 3M during the fourth quarter worth approximately $28,000. EQ Wealth Advisors LLC acquired a new position in 3M in the fourth quarter worth approximately $40,000. Sfam LLC bought a new position in shares of 3M in the fourth quarter valued at $45,000. Cornerstone Planning Group LLC increased its holdings in shares of 3M by 32.1% in the first quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock valued at $42,000 after buying an additional 71 shares in the last quarter. Finally, WFA of San Diego LLC acquired a new stake in shares of 3M during the 2nd quarter valued at $61,000. 65.25% of the stock is currently owned by institutional investors.

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).