Parisi Gray Wealth Management decreased its holdings in shares of 3M Co (NYSE:MMM) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,543 shares of the conglomerate’s stock after selling 262 shares during the quarter. Parisi Gray Wealth Management’s holdings in 3M were worth $1,331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of MMM. 1 North Wealth Services LLC acquired a new stake in 3M during the third quarter valued at $26,000. Atwater Malick LLC acquired a new stake in 3M during the third quarter valued at $30,000. Bridger Capital Management LLC acquired a new stake in 3M during the third quarter valued at $33,000. Kessler Investment Group LLC acquired a new stake in 3M during the fourth quarter valued at $35,000. Finally, Prestige Wealth Management Group LLC boosted its position in 3M by 73.5% during the third quarter. Prestige Wealth Management Group LLC now owns 236 shares of the conglomerate’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.49% of the company’s stock.

In other 3M news, EVP Julie L. Bushman sold 6,879 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $165.09, for a total value of $1,135,654.11. Also, SVP Eric D. Hammes sold 1,341 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $174.25, for a total value of $233,669.25. The disclosure for this sale can be found here. Insiders sold 13,216 shares of company stock valued at $2,233,940 in the last ninety days. Insiders own 0.83% of the company’s stock.

A number of analysts recently issued reports on MMM shares. Deutsche Bank lifted their price objective on 3M from $160.00 to $176.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Zacks Investment Research raised 3M from a “sell” rating to a “hold” rating and set a $179.00 price objective for the company in a research report on Tuesday, December 10th. Royal Bank of Canada reduced their price objective on 3M from $165.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. UBS Group cut 3M from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $180.00 to $160.00 in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised 3M from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $143.00 to $150.00 in a research report on Monday, December 23rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. 3M has a consensus rating of “Hold” and an average target price of $174.08.

Shares of NYSE:MMM traded up $0.31 on Friday, reaching $178.05. The company had a trading volume of 1,513,538 shares, compared to its average volume of 2,150,470. 3M Co has a twelve month low of $150.58 and a twelve month high of $219.75. The stock has a 50-day moving average price of $175.92 and a 200 day moving average price of $168.73. The stock has a market capitalization of $102.38 billion, a P/E ratio of 21.15, a P/E/G ratio of 1.95 and a beta of 1.10. The company has a quick ratio of 1.79, a current ratio of 2.30 and a debt-to-equity ratio of 1.68.

3M (NYSE:MMM) last announced its quarterly earnings results on Thursday, October 24th. The conglomerate reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.09. 3M had a return on equity of 54.02% and a net margin of 15.48%. The company had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $8.20 billion. During the same quarter in the previous year, the firm earned $2.58 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, sell-side analysts predict that 3M Co will post 9.04 earnings per share for the current fiscal year.

About 3M

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

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

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