3M (NYSE:MMM) PT Raised to $165.00 at JPMorgan Chase & Co.

3M (NYSE:MMM) had its price target raised by stock analysts at JPMorgan Chase & Co. from $160.00 to $165.00 in a report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the conglomerate’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 27.64% from the company’s current price.

Several other research firms have also recently commented on MMM. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Barclays boosted their target price on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Citigroup increased their price target on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $150.00 in a research note on Monday, July 29th. Finally, Morgan Stanley started coverage on 3M in a research note on Friday, September 6th. They set an “underweight” rating and a $125.00 target price for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, 3M presently has an average rating of “Hold” and an average target price of $139.27.

3M Price Performance

Shares of NYSE:MMM opened at $129.27 on Monday. The firm’s 50 day moving average is $133.10 and its two-hundred day moving average is $114.71. The firm has a market capitalization of $71.53 billion, a P/E ratio of -10.16, a PEG ratio of 2.42 and a beta of 0.95. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. 3M has a 52 week low of $73.15 and a 52 week high of $141.34.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same period last year, the firm earned $2.68 EPS. The firm’s revenue was down 24.3% compared to the same quarter last year. Analysts anticipate that 3M will post 7.26 earnings per share for the current year.

Insider Buying and Selling at 3M

In other news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. McClarren Financial Advisors Inc. lifted its holdings in shares of 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after buying an additional 121 shares during the last quarter. Tributary Capital Management LLC bought a new stake in 3M in the first quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new stake in 3M in the second quarter worth approximately $28,000. Meeder Asset Management Inc. raised its holdings in shares of 3M by 689.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 269 shares in the last quarter. Finally, TruNorth Capital Management LLC acquired a new stake in shares of 3M in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

About 3M

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.