3M (NYSE:MMM) Shares Sold by First Republic Investment Management Inc.

First Republic Investment Management Inc. decreased its position in shares of 3M (NYSE:MMMGet Rating) by 14.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 228,852 shares of the conglomerate’s stock after selling 39,452 shares during the quarter. First Republic Investment Management Inc.’s holdings in 3M were worth $25,288,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Cetera Advisor Networks LLC boosted its holdings in 3M by 10.6% in the 2nd quarter. Cetera Advisor Networks LLC now owns 105,769 shares of the conglomerate’s stock valued at $13,687,000 after purchasing an additional 10,105 shares in the last quarter. Clear Harbor Asset Management LLC boosted its holdings in 3M by 184.6% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 7,417 shares of the conglomerate’s stock valued at $960,000 after purchasing an additional 4,811 shares in the last quarter. Wealthfront Advisers LLC boosted its holdings in 3M by 22.0% in the 2nd quarter. Wealthfront Advisers LLC now owns 39,356 shares of the conglomerate’s stock valued at $5,093,000 after purchasing an additional 7,086 shares in the last quarter. Key Financial Inc lifted its position in shares of 3M by 184.0% during the 3rd quarter. Key Financial Inc now owns 3,209 shares of the conglomerate’s stock valued at $355,000 after acquiring an additional 2,079 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd lifted its position in shares of 3M by 494.3% during the 2nd quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 5,141 shares of the conglomerate’s stock valued at $665,000 after acquiring an additional 4,276 shares during the period. Hedge funds and other institutional investors own 65.61% of the company’s stock.

Insider Activity

In related news, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $126.28, for a total transaction of $135,245.88. Following the completion of the sale, the senior vice president now directly owns 3,313 shares of the company’s stock, valued at $418,365.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Kevin H. Rhodes sold 5,703 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $126.40, for a total value of $720,859.20. Following the completion of the sale, the executive vice president now owns 2,033 shares in the company, valued at approximately $256,971.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of the stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $126.28, for a total transaction of $135,245.88. Following the completion of the sale, the senior vice president now owns 3,313 shares of the company’s stock, valued at approximately $418,365.64. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

3M Stock Performance

Shares of 3M stock opened at $115.00 on Wednesday. The firm has a market cap of $63.57 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00. The firm’s 50-day simple moving average is $124.56 and its 200-day simple moving average is $126.19. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.97 and a current ratio of 1.56. 3M has a 1 year low of $102.58 and a 1 year high of $175.25.

3M (NYSE:MMMGet Rating) last issued its earnings results on Tuesday, January 24th. The conglomerate reported $2.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.38 by ($0.10). The company had revenue of $8.10 billion during the quarter, compared to analyst estimates of $8.09 billion. 3M had a net margin of 18.91% and a return on equity of 40.03%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.31 EPS. Equities analysts forecast that 3M will post 10.17 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Friday, November 18th were given a $1.49 dividend. This represents a $5.96 annualized dividend and a yield of 5.18%. The ex-dividend date was Thursday, November 17th. 3M’s dividend payout ratio (DPR) is 51.92%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MMM. Citigroup lifted their price target on shares of 3M from $117.00 to $126.00 and gave the company a “neutral” rating in a research report on Friday, December 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on 3M from $126.00 to $127.00 in a research report on Wednesday, October 26th. The Goldman Sachs Group lowered their target price on shares of 3M from $149.00 to $129.00 and set a “neutral” rating for the company in a research note on Tuesday, October 11th. StockNews.com assumed coverage on shares of 3M in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company lifted their target price on shares of 3M from $123.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 19th. Three analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $133.79.

3M Company Profile

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3M Co is a technology company, which manufactures industrial, safety, and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, Consumer, and Corporate and Unallocated. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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