Orrstown Financial Services Inc. decreased its stake in shares of 3M Co (NYSE:MMM) by 20.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,226 shares of the conglomerate’s stock after selling 1,385 shares during the period. 3M makes up 1.4% of Orrstown Financial Services Inc.’s investment portfolio, making the stock its 18th largest holding. Orrstown Financial Services Inc.’s holdings in 3M were worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MPS Loria Financial Planners LLC bought a new stake in 3M during the second quarter worth about $124,000. Hoertkorn Richard Charles bought a new stake in 3M during the third quarter worth about $126,000. Sawyer & Company Inc bought a new stake in 3M during the fourth quarter worth about $138,000. Harfst & Associates Inc. boosted its stake in 3M by 17.0% during the second quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock worth $143,000 after acquiring an additional 100 shares in the last quarter. Finally, Mascoma Wealth Management LLC boosted its stake in 3M by 87.5% during the third quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock worth $157,000 after acquiring an additional 350 shares in the last quarter. 66.23% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP Ivan K. Fong sold 2,348 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $233.12, for a total transaction of $547,365.76. Following the completion of the transaction, the vice president now directly owns 24,479 shares of the company’s stock, valued at $5,706,544.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon T. Lindekugel sold 400 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $230.06, for a total transaction of $92,024.00. The disclosure for this sale can be found here. Insiders have sold 22,804 shares of company stock valued at $5,303,706 over the last three months. 0.58% of the stock is owned by corporate insiders.

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

3M Co (MMM) opened at $244.74 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 2.07 and a debt-to-equity ratio of 0.89. The stock has a market cap of $145,608.33, a PE ratio of 27.35, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10. 3M Co has a twelve month low of $173.55 and a twelve month high of $247.19.

3M (NYSE:MMM) last issued its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $8.17 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the previous year, the company earned $2.15 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. sell-side analysts predict that 3M Co will post 9.1 EPS for the current fiscal year.

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3M 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, , 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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