3M (NYSE:MMM – Get Free Report) had its target price upped by equities research analysts at Citigroup from $142.00 to $152.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the conglomerate’s stock. Citigroup’s price target would indicate a potential upside of 1.57% from the stock’s current price.
Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. lowered their price target on 3M from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Bank of America boosted their price target on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday. Mizuho boosted their price target on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays lowered their price target on 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, 3M has an average rating of “Moderate Buy” and a consensus price target of $148.87.
Check Out Our Latest Stock Analysis on 3M
3M Trading Up 0.4 %
3M (NYSE:MMM – Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5,770,390 billion. 3M had a return on equity of 97.19% and a net margin of 15.71%. The firm’s revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.42 EPS. As a group, equities research analysts expect that 3M will post 7.66 EPS for the current year.
Hedge Funds Weigh In On 3M
Hedge funds have recently bought and sold shares of the business. D.A. Davidson & CO. grew its position in 3M by 16.2% in the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock valued at $20,004,000 after acquiring an additional 20,421 shares during the last quarter. Franklin Resources Inc. grew its position in 3M by 26.8% in the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock valued at $114,770,000 after acquiring an additional 178,450 shares during the last quarter. Meyer Handelman Co. grew its position in 3M by 1.4% in the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock valued at $25,511,000 after acquiring an additional 2,678 shares during the last quarter. Ballentine Partners LLC grew its position in 3M by 40.1% in the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock valued at $2,490,000 after acquiring an additional 5,210 shares during the last quarter. Finally, Stonegate Investment Group LLC grew its position in shares of 3M by 5.6% during the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock worth $34,564,000 after buying an additional 13,473 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.
3M Company Profile
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.
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