3M (NYSE:MMM) Price Target Raised to $165.00

3M (NYSE:MMM) had its price target boosted by Morgan Stanley from $160.00 to $165.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an equal weight rating on the conglomerate’s stock.

A number of other research firms have also weighed in on MMM. Barclays upped their price target on shares of 3M from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. UBS Group lifted their target price on shares of 3M from $184.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $182.00 target price on shares of 3M in a report on Friday, January 16th. Citigroup raised their price target on 3M from $160.00 to $169.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of 3M in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $175.36.

3M Stock Performance

Shares of MMM opened at $162.47 on Wednesday. The business has a 50-day simple moving average of $165.27 and a two-hundred day simple moving average of $159.70. The company has a quick ratio of 1.40, a current ratio of 1.71 and a debt-to-equity ratio of 2.30. 3M has a 52 week low of $121.98 and a 52 week high of $174.69. The stock has a market cap of $86.31 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 2.23 and a beta of 1.09.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.03. The firm had revenue of $6.13 billion for the quarter, compared to analysts’ expectations of $6.03 billion. 3M had a return on equity of 95.36% and a net margin of 13.03%.The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.68 EPS. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. On average, analysts expect that 3M will post 7.8 EPS for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 14th were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, November 14th. 3M’s dividend payout ratio (DPR) is presently 48.67%.

Insider Buying and Selling

In other 3M news, EVP Mark W. Murphy sold 19,061 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $166.55, for a total transaction of $3,174,609.55. Following the transaction, the executive vice president owned 6,594 shares in the company, valued at $1,098,230.70. The trade was a 74.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Zoe L. Dickson sold 13,826 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $169.78, for a total transaction of $2,347,378.28. Following the transaction, the executive vice president owned 6,162 shares in the company, valued at $1,046,184.36. This trade represents a 69.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 46,516 shares of company stock valued at $7,836,465. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On 3M

A number of large investors have recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of 3M by 806.1% in the fourth quarter. SG Americas Securities LLC now owns 314,460 shares of the conglomerate’s stock valued at $50,345,000 after acquiring an additional 279,757 shares in the last quarter. Adams Diversified Equity Fund Inc. purchased a new position in 3M during the 2nd quarter valued at about $21,009,000. Segall Bryant & Hamill LLC bought a new stake in shares of 3M in the 2nd quarter valued at about $8,594,000. Handelsbanken Fonder AB raised its holdings in shares of 3M by 17.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 265,360 shares of the conglomerate’s stock valued at $40,398,000 after purchasing an additional 38,501 shares in the last quarter. Finally, BLI Banque de Luxembourg Investments purchased a new stake in shares of 3M in the 2nd quarter worth approximately $4,103,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

About 3M

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).