3M (NYSE:MMM) PT Raised to $125.00 at Wells Fargo & Company

3M (NYSE:MMMGet Rating) had its price objective boosted by investment analysts at Wells Fargo & Company from $123.00 to $125.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the conglomerate’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 3.61% from the company’s current price.

Several other brokerages have also recently weighed in on MMM. StockNews.com began coverage on shares of 3M in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Citigroup boosted their target price on shares of 3M from $117.00 to $126.00 and gave the company a “neutral” rating in a research report on Friday, December 9th. Barclays dropped their target price on shares of 3M from $137.00 to $130.00 and set an “underweight” rating for the company in a research report on Monday, October 3rd. Royal Bank of Canada boosted their target price on shares of 3M from $107.00 to $113.00 and gave the company an “underperform” rating in a research report on Wednesday, October 26th. Finally, The Goldman Sachs Group dropped their target price on shares of 3M from $149.00 to $129.00 and set a “neutral” rating for the company in a research report on Tuesday, October 11th. Three research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to data from MarketBeat, 3M currently has a consensus rating of “Hold” and a consensus target price of $133.79.

3M Stock Performance

NYSE MMM opened at $120.65 on Thursday. The firm has a 50-day moving average of $125.06 and a 200-day moving average of $126.39. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.97 and a current ratio of 1.56. The stock has a market cap of $66.69 billion, a PE ratio of 10.51, a P/E/G ratio of 1.33 and a beta of 1.00. 3M has a 52-week low of $107.07 and a 52-week high of $176.02.

3M (NYSE:MMMGet Rating) last posted its earnings results on Tuesday, October 25th. The conglomerate reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.08. The company had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.70 billion. 3M had a net margin of 18.91% and a return on equity of 40.03%. 3M’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.45 EPS. On average, sell-side analysts anticipate that 3M will post 10.19 EPS for the current year.

Insider Activity at 3M

In related news, EVP Kevin H. Rhodes sold 5,703 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $126.40, for a total transaction of $720,859.20. Following the transaction, the executive vice president now owns 2,033 shares in the company, valued at approximately $256,971.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 3M news, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of the company’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $126.28, for a total transaction of $135,245.88. Following the transaction, the senior vice president now owns 3,313 shares in the company, valued at $418,365.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kevin H. Rhodes sold 5,703 shares of the company’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $126.40, for a total transaction of $720,859.20. Following the transaction, the executive vice president now owns 2,033 shares in the company, valued at approximately $256,971.20. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

Institutional Trading of 3M

Several institutional investors have recently made changes to their positions in MMM. MADDEN SECURITIES Corp bought a new stake in shares of 3M in the 4th quarter worth $25,000. Piershale Financial Group Inc. bought a new position in 3M during the fourth quarter valued at about $29,000. Better Money Decisions LLC bought a new position in 3M during the second quarter valued at about $34,000. Heritage Wealth Management LLC bought a new position in 3M during the second quarter valued at about $41,000. Finally, Prentice Wealth Management LLC bought a new position in 3M during the second quarter valued at about $45,000. Institutional investors own 65.61% of the company’s stock.

3M Company Profile

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3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

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Analyst Recommendations for 3M (NYSE:MMM)

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