3M (NYSE:MMM) Price Target Cut to $185.00 by Analysts at JPMorgan Chase & Co.

3M (NYSE:MMM) had its price target lowered by JPMorgan Chase & Co. from $205.00 to $185.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the conglomerate’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 15.26% from the stock’s previous close.

MMM has been the subject of several other reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of 3M in a report on Wednesday, July 22nd. Citigroup lifted their target price on shares of 3M from $166.00 to $183.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Royal Bank Of Canada increased their price target on shares of 3M from $123.00 to $132.00 and gave the stock an “underperform” rating in a report on Wednesday, July 22nd. Sanford C. Bernstein raised 3M from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $145.00 to $171.00 in a report on Friday, September 25th. Finally, Mizuho increased their target price on 3M from $160.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $181.71.

3M Stock Performance

Shares of MMM traded down $3.07 during mid-day trading on Friday, reaching $160.51. 1,427,231 shares of the company’s stock were exchanged, compared to its average volume of 3,687,089. The business’s fifty day simple moving average is $172.06 and its 200-day simple moving average is $160.65. 3M has a 52-week low of $139.34 and a 52-week high of $184.90. The stock has a market capitalization of $82.78 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 2.26 and a beta of 0.99. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.24 and a quick ratio of 0.91.

3M (NYSE:MMM) last announced its earnings results on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.15. The business had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.40 billion. 3M had a net margin of 11.90% and a return on equity of 115.87%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.16 earnings per share. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. On average, equities research analysts expect that 3M will post 8.97 earnings per share for the current year.

Insider Buying and Selling at 3M

In other news, insider Karin Chavez sold 3,635 shares of 3M stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total transaction of $663,423.85. Following the completion of the transaction, the insider owned 14,035 shares of the company’s stock, valued at $2,561,527.85. The trade was a 20.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On 3M

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Security National Bank of SO Dak purchased a new position in shares of 3M during the 2nd quarter worth approximately $32,000. Compass Financial Management LLC acquired a new position in shares of 3M in the second quarter worth $38,000. Cornerstone Planning Group LLC lifted its position 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 acquiring an additional 71 shares in the last quarter. West Paces Advisors Inc. acquired a new stake in shares of 3M during the second quarter valued at $49,000. Finally, Bullseye Investment Management LLC acquired a new position in 3M in the 2nd quarter valued at about $52,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Company Profile

3M is a diversified technology and manufacturing company that develops products and solutions for industrial, workplace safety, transportation, electronics, consumer and other markets. Its portfolio includes adhesives, abrasives, tapes, films, filtration products, personal protective equipment, reflective materials and advanced materials used in manufacturing and commercial applications.

The company sells a broad range of well-known consumer and office products under brands such as Post-it and Scotch.