3M (NYSE:MMM) PT Raised to $165.00

3M (NYSE:MMM - Free Report) had its target price upped by JPMorgan Chase & Co. from $160.00 to $165.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an overweight rating on the conglomerate's stock.

Several other brokerages also recently weighed in on MMM. StockNews.com downgraded shares of 3M from a "buy" rating to a "hold" rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upgraded 3M from a "hold" rating to a "buy" rating and boosted their target price for the stock from $110.00 to $150.00 in a research report on Monday, July 29th. Barclays lifted their price objective on 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Citigroup raised their price target on 3M from $100.00 to $133.00 and gave the stock a "neutral" rating in a research report on Monday, July 29th. Finally, Argus raised shares of 3M from a "hold" rating to a "buy" rating and set a $145.00 target price for the company in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $139.27.

3M Stock Up 4.4 %

Shares of 3M stock traded up $5.53 on Monday, reaching $130.28. 5,238,381 shares of the company were exchanged, compared to its average volume of 4,950,748. The stock's 50 day moving average price is $133.07 and its 200-day moving average price is $114.44. The company has a market cap of $72.09 billion, a P/E ratio of -10.24, a price-to-earnings-growth ratio of 2.42 and a beta of 0.95. 3M has a 1-year low of $73.15 and a 1-year high of $141.34. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08.

3M (NYSE:MMM - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating the consensus estimate of $1.93 by $0.05. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. 3M's revenue for the quarter was down 24.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.68 earnings per share. As a group, equities analysts forecast that 3M will post 7.26 EPS for the current year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were given a $0.70 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 annualized dividend and a dividend yield of 2.15%. 3M's dividend payout ratio (DPR) is presently -22.01%.

Insider Activity

In related news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares in the company, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Theresa E. Reinseth sold 2,100 shares of the business's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the transaction, the chief financial officer now owns 4,364 shares in the company, valued at approximately $541,659.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of the business's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

Institutional Trading of 3M

Several institutional investors have recently bought and sold shares of MMM. Tributary Capital Management LLC bought a new position in 3M in the 1st quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new stake in 3M in the second quarter worth about $28,000. Daymark Wealth Partners LLC raised its holdings in 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate's stock worth $30,000 after purchasing an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. lifted its position in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock valued at $30,000 after purchasing an additional 121 shares during the period. Finally, Meeder Asset Management Inc. boosted its stake in shares of 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate's stock valued at $31,000 after purchasing an additional 269 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

About 3M

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.