3M (NYSE:MMM) PT Raised to $140.00

3M (NYSE:MMM) had its price target increased by analysts at Wells Fargo & Company from $130.00 to $140.00 in a report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the conglomerate’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 3.94% from the company’s current price.

MMM has been the subject of a number of other reports. Royal Bank of Canada upped their target price on shares of 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a research note on Monday, July 29th. StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Citigroup upped their target price on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Bank of America upped their target price on shares of 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a research note 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 analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $127.64.

3M Stock Performance

Shares of 3M stock opened at $134.69 on Monday. The firm has a fifty day moving average of $130.89 and a two-hundred day moving average of $110.71. The stock has a market capitalization of $74.53 billion, a price-to-earnings ratio of -10.52, a PEG ratio of 2.51 and a beta of 0.95. 3M has a 52 week low of $71.12 and a 52 week high of $140.72. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36.

3M (NYSE:MMM) last announced its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same quarter in the previous year, the business earned $2.17 EPS. As a group, equities research analysts predict that 3M will post 7.22 EPS for the current year.

Insider Buying and Selling at 3M

In other news, Chairman Michael F. Roman sold 5,675 shares of the firm’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 transaction of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Michael F. Roman sold 5,675 shares of the firm’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 transaction of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Institutional Trading of 3M

Large investors have recently made changes to their positions in the company. Tributary Capital Management LLC acquired a new stake in shares of 3M during the 1st quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. boosted its position in 3M by 419.1% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after buying an additional 197 shares in the last quarter. MFA Wealth Advisors LLC acquired a new stake in 3M in the second quarter valued at approximately $28,000. Daymark Wealth Partners LLC boosted its position in 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after buying an additional 17,211 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after buying an additional 269 shares in 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.