3M Company (NYSE:MMM) had its target price reduced by Citigroup Inc. from $230.00 to $228.00 in a report issued on Wednesday, July 26th. They currently have a buy rating on the conglomerate’s stock.

Other analysts have also issued research reports about the stock. Bank of America Corporation reiterated a buy rating and issued a $225.00 target price (up previously from $208.00) on shares of 3M in a research note on Tuesday, June 6th. Jefferies Group LLC restated a buy rating and set a $234.00 price target on shares of 3M in a research report on Thursday, June 1st. Zacks Investment Research upgraded shares of 3M from a hold rating to a buy rating and set a $223.00 price target for the company in a research report on Friday, May 26th. Barclays PLC restated a buy rating on shares of 3M in a research report on Thursday, April 27th. Finally, Credit Suisse Group restated a buy rating on shares of 3M in a research report on Thursday, April 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. 3M currently has a consensus rating of Hold and an average target price of $203.40.

Shares of 3M (NYSE MMM) opened at 207.44 on Wednesday. The firm has a market cap of $123.79 billion, a price-to-earnings ratio of 23.66 and a beta of 1.08. 3M has a 1-year low of $163.85 and a 1-year high of $214.57. The company has a 50 day moving average of $209.15 and a 200 day moving average of $195.17.

3M (NYSE:MMM) last posted its earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.59 by $0.01. 3M had a return on equity of 47.83% and a net margin of 17.65%. The firm had revenue of $7.81 billion during the quarter, compared to the consensus estimate of $7.86 billion. During the same quarter in the previous year, the company earned $2.08 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that 3M will post $8.94 earnings per share for the current fiscal year.

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In other 3M news, VP Marlene Mary Mcgrath sold 14,766 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $194.88, for a total transaction of $2,877,598.08. Following the transaction, the vice president now directly owns 24,480 shares in the company, valued at $4,770,662.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James L. Bauman sold 14,616 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $195.81, for a total transaction of $2,861,958.96. Following the completion of the transaction, the insider now owns 16,458 shares in the company, valued at approximately $3,222,640.98. The disclosure for this sale can be found here. 0.58% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jackson Grant Investment Advisers Inc. boosted its position in shares of 3M by 0.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 714 shares of the conglomerate’s stock valued at $128,000 after buying an additional 4 shares in the last quarter. Founders Capital Management LLC boosted its position in shares of 3M by 0.4% in the first quarter. Founders Capital Management LLC now owns 1,939 shares of the conglomerate’s stock valued at $371,000 after buying an additional 8 shares in the last quarter. Baystate Wealth Management LLC boosted its position in shares of 3M by 0.6% in the first quarter. Baystate Wealth Management LLC now owns 1,950 shares of the conglomerate’s stock valued at $370,000 after buying an additional 11 shares in the last quarter. Capital Management Corp VA boosted its position in shares of 3M by 0.3% in the first quarter. Capital Management Corp VA now owns 3,934 shares of the conglomerate’s stock valued at $753,000 after buying an additional 11 shares in the last quarter. Finally, Smith Chas P & Associates PA Cpas boosted its position in shares of 3M by 0.7% in the first quarter. Smith Chas P & Associates PA Cpas now owns 1,952 shares of the conglomerate’s stock valued at $374,000 after buying an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 65.80% of the company’s stock.

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, electronics, 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.

Analyst Recommendations for 3M (NYSE:MMM)

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