3M (NYSE:MMM) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC decreased its holdings in 3M (NYSE:MMM) by 26.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,232 shares of the conglomerate’s stock after selling 814 shares during the period. Summit Trail Advisors LLC’s holdings in 3M were worth $244,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Briaud Financial Planning Inc purchased a new stake in shares of 3M during the third quarter valued at approximately $35,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of 3M during the third quarter valued at approximately $37,000. CGC Financial Services LLC raised its stake in shares of 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after purchasing an additional 160 shares during the period. VisionPoint Advisory Group LLC raised its stake in shares of 3M by 91.9% during the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 215 shares during the period. Finally, Psagot Value Holdings Ltd. Israel purchased a new stake in shares of 3M during the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Up 0.8 %

3M stock opened at $96.35 on Thursday. The company has a 50-day simple moving average of $96.30 and a 200-day simple moving average of $97.84. The firm has a market capitalization of $53.32 billion, a P/E ratio of -7.57, a P/E/G ratio of 1.79 and a beta of 1.00. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.27 and a current ratio of 1.64. 3M has a one year low of $71.12 and a one year high of $99.70.

3M (NYSE:MMM) last announced its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. The firm had revenue of $8 billion during the quarter, compared to analyst estimates of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same quarter in the prior year, the firm posted $1.97 EPS. As a group, equities analysts expect that 3M will post 7.23 earnings per share for the current year.

Insider Buying and Selling at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the sale, the insider now directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on MMM shares. JPMorgan Chase & Co. raised shares of 3M from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $110.00 to $111.00 in a research report on Wednesday, May 1st. Mizuho reissued a “neutral” rating and set a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Bank of America lowered their target price on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday, April 2nd. Finally, Citigroup boosted their target price on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $103.70.

3M Profile

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.