3M (NYSE:MMM) Rating Increased to Overweight at JPMorgan Chase & Co.

3M (NYSE:MMM) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Friday,Benzinga reports. The brokerage presently has a $180.00 target price on the conglomerate’s stock, up from their prior target price of $178.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 11.33% from the company’s previous close.

Several other research analysts have also issued reports on MMM. Jefferies Financial Group lifted their price target on shares of 3M from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Monday, June 29th. Citigroup cut their price objective on 3M from $175.00 to $166.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. Barclays cut their target price on 3M from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. The Goldman Sachs Group raised 3M to a “buy” rating and set a $190.00 target price for the company in a report on Monday, June 15th. Finally, Wells Fargo & Company increased their price target on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, 3M has a consensus rating of “Hold” and an average price target of $169.43.

3M Stock Performance

MMM stock opened at $161.68 on Friday. 3M has a 1 year low of $139.34 and a 1 year high of $177.41. The stock has a market capitalization of $84.33 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 2.26 and a beta of 1.02. The company has a debt-to-equity ratio of 3.29, a quick ratio of 1.19 and a current ratio of 1.59. The stock’s fifty day moving average is $155.77 and its two-hundred day moving average is $156.12.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $6.04 billion. 3M had a return on equity of 104.75% and a net margin of 11.14%.The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 EPS. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. On average, research analysts predict that 3M will post 8.74 EPS for the current year.

Institutional Trading of 3M

Several institutional investors have recently modified their holdings of the company. Commonwealth Retirement Investments LLC acquired a new position in shares of 3M in the 4th quarter valued at $28,000. EQ Wealth Advisors LLC bought a new position in shares of 3M during the 4th quarter worth about $40,000. Cornerstone Planning Group LLC raised its position in 3M by 32.1% in the first quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 71 shares in the last quarter. Sfam LLC acquired a new position in 3M in the fourth quarter worth about $45,000. Finally, WFA of San Diego LLC bought a new position in 3M during the second quarter worth about $61,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

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).