3M (NYSE:MMM) Price Target Cut to $140.00 by Analysts at JPMorgan Chase & Co.

3M (NYSE:MMM - Get Free Report) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $165.00 to $140.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the conglomerate's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 2.96% from the company's current price.

Other research analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research note on Saturday, March 22nd. Citigroup lifted their target price on shares of 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Barclays raised their price target on 3M from $161.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Bank of America increased their target price on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Finally, Royal Bank of Canada reaffirmed an "underperform" rating and issued a $96.00 target price on shares of 3M in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, 3M has an average rating of "Moderate Buy" and an average target price of $147.13.

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3M Trading Up 2.3 %

Shares of 3M stock traded up $3.00 during mid-day trading on Tuesday, hitting $135.97. The stock had a trading volume of 3,337,605 shares, compared to its average volume of 4,133,903. The firm has a 50-day moving average of $146.37 and a two-hundred day moving average of $138.40. The firm has a market cap of $73.33 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a 12-month low of $90.17 and a 12-month high of $156.35.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same period in the prior year, the business posted $2.42 earnings per share. The firm's revenue for the quarter was down 25.0% compared to the same quarter last year. Sell-side analysts forecast that 3M will post 7.8 earnings per share for the current year.

Insider Transactions at 3M

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the business's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the sale, the insider now directly owns 5,024 shares of the company's stock, valued at $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kevin H. Rhodes sold 6,743 shares of 3M stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $149.85, for a total value of $1,010,438.55. Following the sale, the executive vice president now owns 4,902 shares in the company, valued at $734,564.70. This trade represents a 57.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of 3M

Several institutional investors and hedge funds have recently bought and sold shares of MMM. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in shares of 3M by 1.3% in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate's stock valued at $694,000 after buying an additional 67 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in 3M by 1.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate's stock valued at $665,000 after acquiring an additional 70 shares during the last quarter. LaSalle St. Investment Advisors LLC lifted its position in 3M by 2.5% during the 4th quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock worth $381,000 after acquiring an additional 71 shares during the period. Gilbert & Cook Inc. grew its stake in shares of 3M by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate's stock valued at $659,000 after purchasing an additional 73 shares during the last quarter. Finally, Childress Capital Advisors LLC increased its holdings in shares of 3M by 5.1% in the fourth quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate's stock valued at $203,000 after purchasing an additional 76 shares during the period. Hedge funds and other institutional investors own 65.25% of the company's stock.

3M Company 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.