Private Trust Co. NA decreased its holdings in shares of 3M Co (NYSE:MMM) by 7.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,591 shares of the conglomerate’s stock after selling 1,579 shares during the quarter. 3M comprises about 1.0% of Private Trust Co. NA’s holdings, making the stock its 20th biggest position. Private Trust Co. NA’s holdings in 3M were worth $4,611,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sawyer & Company Inc purchased a new stake in shares of 3M during the fourth quarter worth $138,000. MPS Loria Financial Planners LLC purchased a new stake in shares of 3M during the second quarter worth $124,000. Hoertkorn Richard Charles acquired a new position in shares of 3M during the 3rd quarter valued at about $126,000. Harfst & Associates Inc. boosted its position in shares of 3M by 17.0% during the 2nd quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock valued at $143,000 after acquiring an additional 100 shares during the last quarter. Finally, Mascoma Wealth Management LLC boosted its position in shares of 3M by 87.5% during the 3rd quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock valued at $157,000 after acquiring an additional 350 shares during the last quarter. 66.23% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on MMM shares. JPMorgan Chase & Co. cut shares of 3M from a “neutral” rating to an “underweight” rating and boosted their price target for the company from $185.00 to $201.00 in a research report on Wednesday, September 20th. Morgan Stanley boosted their price target on shares of 3M from $190.00 to $201.00 and gave the company an “underweight” rating in a research report on Monday, October 2nd. Zacks Investment Research cut shares of 3M from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Citigroup reaffirmed a “buy” rating and issued a $250.00 target price (up previously from $228.00) on shares of 3M in a research report on Monday, October 9th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $237.00 target price (up previously from $229.00) on shares of 3M in a research report on Wednesday, October 11th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $233.68.

In other 3M news, VP Khandpur K. Ashish sold 4,004 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $231.39, for a total value of $926,485.56. Following the transaction, the vice president now directly owns 5,236 shares in the company, valued at $1,211,558.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Inge G. Thulin sold 6,823 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $233.14, for a total transaction of $1,590,714.22. Following the completion of the transaction, the chairman now owns 196,906 shares in the company, valued at $45,906,664.84. The disclosure for this sale can be found here. Insiders have sold 22,804 shares of company stock worth $5,303,706 over the last 90 days. Insiders own 0.58% of the company’s stock.

3M Co (MMM) traded up $0.26 during mid-day trading on Tuesday, hitting $244.73. 914,448 shares of the company were exchanged, compared to its average volume of 1,985,600. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47. 3M Co has a 12-month low of $173.55 and a 12-month high of $246.00. The stock has a market capitalization of $146,080.00, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.12. 3M had a net margin of 17.71% and a return on equity of 48.55%. The firm had revenue of $8.17 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period in the prior year, the firm earned $2.15 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. sell-side analysts forecast that 3M Co will post 9.1 earnings per share for the current fiscal year.

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About 3M

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, , 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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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