1 week Ago By Defense World Staff
3M (NYSE:MMM – Get Free Report) had its price target dropped by investment analysts at JPMorgan Chase & Co. from $165.00 to $140.
00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the conglomerate’s stock. JPMorgan Chase & Co.
‘s target price would suggest a potential upside of 1.16% from the stock’s current price.Other equities analysts have also issued research reports about the stock.
Royal Bank of Canada restated an “underperform” rating and set a $96.00 price objective on shares of 3M in a research report on Thursday, February 27th. Bank of America lifted their price target on shares of 3M from $175.
00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Citigroup increased their price objective on 3M from $142.
00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Barclays lifted their target price on 3M from $161.
00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $140.
00 to $170.00 in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock.
According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.47.Read Our Latest Analysis on MMM3M Price PerformanceNYSE MMM opened at $138.
40 on Tuesday. The firm has a market capitalization of $74.64 billion, a PE ratio of 18.
33, a P/E/G ratio of 3.30 and a beta of 1.01.
The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.
08. 3M has a 12 month low of $90.17 and a 12 month high of $156.
35. The company’s 50 day simple moving average is $147.03 and its 200 day simple moving average is $138.
43. 3M (NYSE:MMM – Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.
68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02.
3M had a return on equity of 100.77% and a net margin of 15.71%.
The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion.
During the same quarter in the previous year, the business earned $2.42 EPS. The company’s quarterly revenue was down 25.
0% compared to the same quarter last year. As a group, equities research analysts forecast that 3M will post 7.8 EPS for the current fiscal year.
Insider Buying and Selling at 3MIn other 3M news, Chairman Michael F. Roman sold 49,598 shares of 3M stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $152.
30, for a total transaction of $7,553,775.40. Following the sale, the chairman now owns 180,895 shares in the company, valued at $27,550,308.
50. The trade was a 21.52 % decrease in their ownership of the stock.
The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $154.
22, for a total transaction of $269,885.00. Following the completion of the transaction, the executive vice president now owns 194 shares of the company’s stock, valued at approximately $29,918.
68. This represents a 90.02 % decrease in their position.
The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock worth $17,163,446 over the last ninety days. Company insiders own 0.
34% of the company’s stock. Institutional Inflows and OutflowsSeveral hedge funds have recently added to or reduced their stakes in the business. Financial Life Planners acquired a new position in shares of 3M in the 4th quarter worth approximately $25,000.
Proficio Capital Partners LLC bought a new position in shares of 3M during the fourth quarter valued at $26,000. REAP Financial Group LLC boosted its stake in shares of 3M by 88.7% in the 4th quarter.
REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 94 shares in the last quarter. Hazlett Burt & Watson Inc. bought a new stake in shares of 3M in the 4th quarter worth about $27,000.
Finally, Pinney & Scofield Inc. acquired a new stake in shares of 3M during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 65.
25% of the company’s stock. About 3M (Get Free Report)3M Company provides diversified technology services in the United States and internationally. The company’s 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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