3M (NYSE:MMM) Given New $186.00 Price Target at Wolfe Research

3M (NYSE:MMM) had its price target dropped by equities research analysts at Wolfe Research from $205.00 to $186.00 in a report released on Wednesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the conglomerate’s stock. Wolfe Research’s price objective would indicate a potential upside of 24.64% from the stock’s current price.

Several other research firms have also recently issued reports on MMM. Morgan Stanley raised their target price on 3M from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $182.00 price objective on shares of 3M in a research report on Friday, January 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of 3M from $179.00 to $181.00 and gave the company a “hold” rating in a research report on Wednesday, January 21st. Barclays reduced their price objective on shares of 3M from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Finally, Wells Fargo & Company decreased their target price on 3M from $175.00 to $160.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $169.91.

3M Trading Up 3.4%

MMM stock traded up $4.88 during midday trading on Wednesday, hitting $149.23. The company had a trading volume of 374,106 shares, compared to its average volume of 4,044,630. The company has a current ratio of 1.71, a quick ratio of 1.33 and a debt-to-equity ratio of 2.30. 3M has a 52 week low of $123.44 and a 52 week high of $177.41. The stock’s 50 day moving average price is $156.44 and its 200 day moving average price is $160.61. The stock has a market cap of $77.96 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 2.10 and a beta of 1.09.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.03. 3M had a net margin of 13.03% and a return on equity of 95.36%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same quarter last year, the business earned $1.68 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. As a group, equities research analysts expect that 3M will post 7.8 earnings per share for the current fiscal year.

Insider Transactions at 3M

In other 3M news, CAO Theresa E. Reinseth sold 5,145 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $172.75, for a total transaction of $888,798.75. Following the transaction, the chief accounting officer owned 2,585 shares in the company, valued at approximately $446,558.75. This represents a 66.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. American Trust lifted its stake in 3M by 3.4% in the 4th quarter. American Trust now owns 1,803 shares of the conglomerate’s stock worth $289,000 after purchasing an additional 60 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV raised its holdings in shares of 3M by 1.0% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 6,045 shares of the conglomerate’s stock worth $938,000 after buying an additional 61 shares during the period. Private Trust Co. NA raised its holdings in shares of 3M by 0.8% in the third quarter. Private Trust Co. NA now owns 9,205 shares of the conglomerate’s stock worth $1,428,000 after buying an additional 69 shares during the period. MJT & Associates Financial Advisory Group Inc. raised its holdings in shares of 3M by 6.0% in the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 1,255 shares of the conglomerate’s stock worth $195,000 after buying an additional 71 shares during the period. Finally, Harbor Investment Advisory LLC raised its holdings in shares of 3M by 4.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 1,802 shares of the conglomerate’s stock worth $288,000 after buying an additional 72 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Company Profile

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M’s businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).