Rep. Josh Gottheimer Purchases Shares of 3M (NYSE:MMM)

Posted by Defense World Staff on Feb 12th, 2025

Representative Josh Gottheimer (D-New Jersey) recently bought shares of 3M (NYSE:MMM). In a filing disclosed on February 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in 3M stock on January 30th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/31/2025.
Sold $1,001 – $15,000 in shares of Arista Networks (NYSE:ANET) on 1/31/2025.
Purchased $1,001 – $15,000 in shares of Visa (NYSE:V) on 1/31/2025.
Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 1/31/2025.
Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/31/2025.
Purchased $1,001 – $15,000 in shares of Twilio (NYSE:TWLO) on 1/31/2025.
Sold $1,001 – $15,000 in shares of ICF International (NASDAQ:ICFI) on 1/31/2025.
Purchased $1,001 – $15,000 in shares of Mastercard (NYSE:MA) on 1/31/2025.
Purchased $1,001 – $15,000 in shares of Visa (NYSE:V) on 1/30/2025.
Sold $1,001 – $15,000 in shares of Trane Technologies (NYSE:TT) on 1/30/2025.

3M Trading Up 0.2 %

NYSE MMM opened at $150.06 on Wednesday. 3M has a 12 month low of $75.40 and a 12 month high of $155.00. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The stock has a 50 day moving average of $137.44 and a 200-day moving average of $133.25. The company has a market cap of $81.47 billion, a PE ratio of 19.88, a PEG ratio of 3.37 and a beta of 0.96.

3M (NYSE:MMM – Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company’s revenue for the quarter was down 25.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.42 earnings per share. On average, equities research analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be given a dividend of $0.73 per share. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 1.95%. 3M’s payout ratio is 37.09%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MMM shares. Citigroup boosted their price target on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Barclays boosted their target price on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an “underperform” rating and set a $96.00 price objective on shares of 3M in a research report on Wednesday, January 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a research report on Saturday, February 1st. Finally, Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, 3M currently has an average rating of “Moderate Buy” and a consensus target price of $148.87.

Check Out Our Latest Research Report on 3M

Hedge Funds Weigh In On 3M

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MMM. Zions Bancorporation N.A. increased its position in shares of 3M by 254.0% in the fourth quarter. Zions Bancorporation N.A. now owns 446 shares of the conglomerate’s stock worth $58,000 after purchasing an additional 320 shares during the period. TIAA Trust National Association increased its holdings in 3M by 2.0% in the 4th quarter. TIAA Trust National Association now owns 55,071 shares of the conglomerate’s stock valued at $7,109,000 after buying an additional 1,061 shares during the period. CoreFirst Bank & Trust acquired a new position in shares of 3M in the 4th quarter valued at approximately $114,000. Prudential Financial Inc. lifted its holdings in shares of 3M by 2.2% during the 4th quarter. Prudential Financial Inc. now owns 1,440,005 shares of the conglomerate’s stock worth $185,890,000 after acquiring an additional 30,506 shares during the period. Finally, Congress Wealth Management LLC DE boosted its position in shares of 3M by 6.8% during the 4th quarter. Congress Wealth Management LLC DE now owns 10,101 shares of the conglomerate’s stock worth $1,304,000 after acquiring an additional 641 shares in the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at 3M

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the transaction, the insider now owns 5,024 shares in the company, valued at $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the transaction, the chief accounting officer now directly owns 4,417 shares of the company’s stock, valued at $662,329.15. This trade represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock worth $17,163,446 over the last three months. Corporate insiders own 0.34% of the company’s stock.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2027.

Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2026 election.

Gottheimer is also running for election for Governor of New Jersey. He declared candidacy for the Democratic primary scheduled on June 10, 2025.

Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

3M Company Profile

(Get Free Report)

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.