3M (MMM) PT Raised to $220.00 at Deutsche Bank

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3M (NYSE:MMM) had its target price upped by Deutsche Bank from $210.00 to $220.00 in a research report report published on Friday, September 28th. They currently have a hold rating on the conglomerate’s stock.

A number of other research firms have also issued reports on MMM. Zacks Investment Research lowered shares of 3M from a hold rating to a sell rating in a report on Tuesday, September 25th. MED lowered shares of 3M from a buy rating to a hold rating and set a $208.00 price target on the stock. in a report on Thursday, July 12th. ValuEngine upgraded shares of 3M from a sell rating to a hold rating in a report on Saturday, July 14th. Morgan Stanley initiated coverage on shares of 3M in a report on Monday, August 20th. They set an equal weight rating and a $212.00 price target on the stock. Finally, Citigroup set a $263.00 price objective on shares of 3M and gave the company a buy rating in a research note on Saturday, June 9th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. 3M currently has a consensus rating of Hold and an average target price of $233.79.

Shares of NYSE:MMM traded down $0.53 during trading on Friday, reaching $199.85. The company had a trading volume of 3,071,766 shares, compared to its average volume of 2,368,925. 3M has a twelve month low of $190.57 and a twelve month high of $259.77. The firm has a market cap of $117.55 billion, a P/E ratio of 21.79, a P/E/G ratio of 1.92 and a beta of 1.15. The company has a current ratio of 1.56, a quick ratio of 1.08 and a debt-to-equity ratio of 1.08.

3M (NYSE:MMM) last released its earnings results on Tuesday, July 24th. The conglomerate reported $2.59 EPS for the quarter, beating the consensus estimate of $2.58 by $0.01. 3M had a net margin of 13.44% and a return on equity of 51.31%. The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.36 billion. During the same period in the prior year, the business earned $2.58 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Equities research analysts forecast that 3M will post 10.27 EPS for the current year.

In related news, insider Eric D. Hammes sold 1,272 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $216.00, for a total transaction of $274,752.00. Following the completion of the sale, the insider now directly owns 5,634 shares of the company’s stock, valued at approximately $1,216,944. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jon T. Lindekugel sold 6,410 shares of the stock in a transaction on Friday, August 10th. The shares were sold at an average price of $203.01, for a total transaction of $1,301,294.10. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

A number of institutional investors have recently modified their holdings of MMM. Cadinha & Co. LLC increased its position in shares of 3M by 3.9% during the 2nd quarter. Cadinha & Co. LLC now owns 6,390 shares of the conglomerate’s stock worth $1,257,000 after purchasing an additional 240 shares in the last quarter. Montecito Bank & Trust increased its position in shares of 3M by 3.8% during the 2nd quarter. Montecito Bank & Trust now owns 6,680 shares of the conglomerate’s stock worth $1,314,000 after purchasing an additional 242 shares in the last quarter. Trust Department MB Financial Bank N A increased its position in shares of 3M by 12.0% during the 3rd quarter. Trust Department MB Financial Bank N A now owns 2,297 shares of the conglomerate’s stock worth $484,000 after purchasing an additional 247 shares in the last quarter. REDW Stanley Financial Advisors LLC increased its position in shares of 3M by 8.2% during the 2nd quarter. REDW Stanley Financial Advisors LLC now owns 3,294 shares of the conglomerate’s stock worth $648,000 after purchasing an additional 250 shares in the last quarter. Finally, Ascension Asset Management LLC increased its position in shares of 3M by 3.3% during the 2nd quarter. Ascension Asset Management LLC now owns 7,775 shares of the conglomerate’s stock worth $1,529,000 after purchasing an additional 250 shares in the last quarter. 67.05% of the stock is owned by hedge funds and other institutional investors.

About 3M

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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Analyst Recommendations for 3M (NYSE:MMM)

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