Analysts Set 3M (NYSE:MMM) Price Target at $193.45

3M (NYSE:MMM) has earned a consensus rating of “Hold” from the thirteen analysts that are presently covering the firm, reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $193.45.

MMM has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on 3M from $192.00 to $199.00 and gave the stock a “hold” rating in a research note on Wednesday, April 28th. Credit Suisse Group reduced their price objective on shares of 3M from $213.00 to $210.00 and set an “outperform” rating for the company in a research report on Tuesday, May 4th. Royal Bank of Canada boosted their target price on shares of 3M from $198.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 4th. JPMorgan Chase & Co. raised shares of 3M from a “neutral” rating to an “overweight” rating and set a $205.00 price target on the stock in a research note on Wednesday, January 27th. Finally, Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $200.00 price objective on the stock in a report on Wednesday, February 3rd.

MMM traded up $0.97 on Monday, reaching $204.38. The stock had a trading volume of 1,475,527 shares, compared to its average volume of 2,637,708. The business’s 50-day moving average price is $198.01 and its two-hundred day moving average price is $180.27. The company has a market cap of $118.47 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 1.85 and a beta of 0.92. 3M has a 12-month low of $134.20 and a 12-month high of $208.95. The company has a current ratio of 1.90, a quick ratio of 1.37 and a debt-to-equity ratio of 1.54.

3M (NYSE:MMM) last posted its earnings results on Monday, April 26th. The conglomerate reported $2.77 EPS for the quarter, beating the Zacks’ consensus estimate of $2.29 by $0.48. The firm had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.43 billion. 3M had a return on equity of 44.77% and a net margin of 15.65%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $2.16 EPS. As a group, analysts predict that 3M will post 8.56 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 12th. Shareholders of record on Friday, May 21st will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Thursday, May 20th. 3M’s dividend payout ratio (DPR) is currently 65.05%.

In other news, EVP Kristen M. Ludgate sold 933 shares of the firm’s stock in a transaction that occurred on Wednesday, April 21st. The shares were sold at an average price of $200.00, for a total transaction of $186,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ivan K. Fong sold 12,059 shares of 3M stock in a transaction that occurred on Friday, April 30th. The shares were sold at an average price of $198.46, for a total transaction of $2,393,229.14. Following the sale, the vice president now directly owns 47,872 shares in the company, valued at approximately $9,500,677.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,075 shares of company stock valued at $2,595,271. 0.42% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Financial Avengers Inc. purchased a new stake in 3M in the 4th quarter valued at about $26,000. IronBridge Private Wealth LLC purchased a new position in shares of 3M during the 4th quarter worth approximately $26,000. Goodwin Investment Advisory acquired a new stake in shares of 3M in the first quarter valued at $33,000. Better Money Decisions LLC acquired a new position in 3M during the 1st quarter worth about $38,000. Finally, Newfound Research LLC acquired a new position in 3M during the 4th quarter worth about $41,000. 64.68% of the stock is currently owned by institutional investors and hedge funds.

About 3M

3M Company develops, manufactures, and markets various products worldwide. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment offers personal safety products, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules to industrial, electrical, and safety markets.

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Analyst Recommendations for 3M (NYSE:MMM)

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