3M (NYSE:MMM) Price Target Raised to $205.00 at Wolfe Research

3M (NYSE:MMM) had its price objective lifted by investment analysts at Wolfe Research from $196.00 to $205.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage currently has an “outperform” rating on the conglomerate’s stock. Wolfe Research’s target price would suggest a potential upside of 24.43% from the company’s previous close.

Several other research firms have also issued reports on MMM. Wells Fargo & Company reduced their target price on 3M from $183.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. Weiss Ratings lowered shares of 3M from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 4th. Morgan Stanley boosted their target price on shares of 3M from $160.00 to $165.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft increased their price target on shares of 3M from $179.00 to $181.00 and gave the stock a “hold” rating in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada upped their target price on 3M from $131.00 to $136.00 and gave the stock an “underperform” rating in a research note on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, 3M presently has an average rating of “Hold” and an average target price of $176.18.

3M Price Performance

Shares of 3M stock opened at $164.75 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.71 and a debt-to-equity ratio of 2.30. The stock has a market capitalization of $86.77 billion, a price-to-earnings ratio of 27.46, a price-to-earnings-growth ratio of 2.32 and a beta of 1.09. 3M has a twelve month low of $121.98 and a twelve month high of $177.41. The company has a 50-day simple moving average of $164.01 and a two-hundred day simple moving average of $161.81.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.03. 3M had a net margin of 13.03% and a return on equity of 95.36%. The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the prior year, the business posted $1.68 EPS. The business’s revenue was up 1.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. Analysts forecast that 3M will post 7.8 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Theresa E. Reinseth sold 5,145 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $172.75, for a total value of $888,798.75. Following the sale, the chief accounting officer owned 2,585 shares of the company’s stock, valued at $446,558.75. The trade was a 66.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On 3M

Several institutional investors have recently modified their holdings of MMM. PFA Pension Forsikringsaktieselskab bought a new stake in 3M during the 4th quarter valued at $65,009,000. SG Americas Securities LLC raised its position in shares of 3M by 806.1% in the 4th quarter. SG Americas Securities LLC now owns 314,460 shares of the conglomerate’s stock worth $50,345,000 after acquiring an additional 279,757 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of 3M in the 2nd quarter valued at approximately $8,594,000. Handelsbanken Fonder AB boosted its position in shares of 3M by 17.0% during the second quarter. Handelsbanken Fonder AB now owns 265,360 shares of the conglomerate’s stock valued at $40,398,000 after purchasing an additional 38,501 shares in the last quarter. Finally, BLI Banque de Luxembourg Investments purchased a new stake in 3M in the second quarter worth $4,103,000. 65.25% of the stock is currently owned by institutional investors.

3M Company Profile

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M’s businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).