3M Co (NYSE:MMM) had its target price upped by equities researchers at Jefferies Group LLC from $210.00 to $219.00 in a research note issued on Wednesday. The firm currently has a “buy” rating on the conglomerate’s stock. Jefferies Group LLC’s price objective points to a potential upside of 14.56% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $213.00 target price for the company in a report on Wednesday, March 29th. Royal Bank of Canada restated a “hold” rating and issued a $187.00 target price on shares of 3M in a report on Sunday, March 12th. Vetr cut shares of 3M from a “sell” rating to a “strong sell” rating and set a $163.50 target price for the company. in a report on Wednesday, February 22nd. Citigroup Inc lowered their target price on shares of 3M from $206.00 to $204.00 and set a “buy” rating for the company in a report on Wednesday, January 25th. Finally, Stifel Nicolaus upped their target price on shares of 3M from $187.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, January 25th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. 3M currently has a consensus rating of “Hold” and a consensus target price of $189.38.

Analyst Recommendations for 3M (NYSE:MMM)

3M (NYSE:MMM) traded up 0.70% during trading on Wednesday, hitting $191.16. 1,748,136 shares of the stock were exchanged. The stock has a market cap of $113.97 billion, a P/E ratio of 23.43 and a beta of 1.04. 3M has a 12 month low of $163.17 and a 12 month high of $193.50. The stock’s 50 day moving average price is $190.53 and its 200 day moving average price is $179.02.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 24th. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.01. 3M had a net margin of 16.77% and a return on equity of 43.82%. The business earned $7.33 billion during the quarter, compared to analysts’ expectations of $7.35 billion. During the same quarter in the prior year, the business posted $1.80 EPS. The company’s revenue for the quarter was up .4% on a year-over-year basis. Analysts forecast that 3M will post $8.62 EPS for the current fiscal year.

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In related news, insider Paul A. Keel sold 8,440 shares of the company’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $181.24, for a total value of $1,529,665.60. Following the completion of the sale, the insider now owns 17,216 shares in the company, valued at approximately $3,120,227.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Hak Cheol Shin sold 47,528 shares of the company’s stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $176.85, for a total transaction of $8,405,326.80. Following the completion of the sale, the insider now owns 61,283 shares of the company’s stock, valued at approximately $10,837,898.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,785 shares of company stock valued at $11,866,885. 0.58% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new stake in 3M during the fourth quarter valued at approximately $156,002,000. Ameriprise Financial Inc. increased its stake in 3M by 69.6% in the third quarter. Ameriprise Financial Inc. now owns 1,789,729 shares of the conglomerate’s stock valued at $315,408,000 after buying an additional 734,451 shares during the period. TIAA CREF Investment Management LLC increased its stake in 3M by 9.9% in the third quarter. TIAA CREF Investment Management LLC now owns 5,355,892 shares of the conglomerate’s stock valued at $943,869,000 after buying an additional 481,500 shares during the period. BlackRock Fund Advisors increased its stake in 3M by 3.3% in the third quarter. BlackRock Fund Advisors now owns 8,265,834 shares of the conglomerate’s stock valued at $1,456,688,000 after buying an additional 261,278 shares during the period. Finally, SG Americas Securities LLC increased its stake in 3M by 436.7% in the third quarter. SG Americas Securities LLC now owns 192,732 shares of the conglomerate’s stock valued at $33,965,000 after buying an additional 249,971 shares during the period. Hedge funds and other institutional investors own 65.80% of the company’s stock.

About 3M

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

5 Day Chart for NYSE:MMM

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