Morgan Stanley reiterated their underweight rating on shares of 3M Company (NYSE:MMM) in a research report sent to investors on Wednesday morning. They currently have a $190.00 price objective on the conglomerate’s stock, down from their previous price objective of $191.00.

Several other equities analysts have also commented on the stock. Royal Bank Of Canada restated a sector perform rating and set a $209.00 price target (down previously from $210.00) on shares of 3M in a research report on Wednesday. William Blair restated an outperform rating on shares of 3M in a research report on Wednesday. BidaskClub lowered shares of 3M from a buy rating to a hold rating in a research report on Monday, July 24th. Stifel Nicolaus restated a hold rating and set a $202.00 price target on shares of 3M in a research report on Wednesday, July 19th. Finally, Zacks Investment Research upgraded shares of 3M from a hold rating to a buy rating and set a $237.00 price target for the company in a research report on Monday, June 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $203.40.

Shares of 3M (NYSE MMM) opened at 199.72 on Wednesday. The stock has a 50 day moving average of $209.43 and a 200 day moving average of $194.56. The stock has a market cap of $119.19 billion, a P/E ratio of 22.78 and a beta of 1.09. 3M has a one year low of $163.85 and a one year high of $214.57.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $2.58 EPS for the quarter, missing the consensus estimate of $2.59 by $0.01. The firm had revenue of $7.81 billion for the quarter, compared to the consensus estimate of $7.86 billion. 3M had a return on equity of 47.83% and a net margin of 17.65%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.08 EPS. Equities analysts expect that 3M will post $8.94 EPS for the current fiscal year.

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In related news, insider James L. Bauman sold 14,616 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $195.81, for a total value of $2,861,958.96. Following the completion of the transaction, the insider now owns 16,458 shares in the company, valued at approximately $3,222,640.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Marlene Mary Mcgrath sold 14,766 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $194.88, for a total transaction of $2,877,598.08. Following the completion of the transaction, the vice president now owns 24,480 shares of the company’s stock, valued at approximately $4,770,662.40. The disclosure for this sale can be found here. Insiders sold a total of 33,698 shares of company stock valued at $6,593,443 in the last quarter. 0.58% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of MMM. Jackson Grant Investment Advisers Inc. increased its stake in shares of 3M by 0.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 714 shares of the conglomerate’s stock worth $128,000 after buying an additional 4 shares during the last quarter. Founders Capital Management LLC increased its stake in shares of 3M by 0.4% in the first quarter. Founders Capital Management LLC now owns 1,939 shares of the conglomerate’s stock worth $371,000 after buying an additional 8 shares during the last quarter. Baystate Wealth Management LLC increased its stake in shares of 3M by 0.6% in the first quarter. Baystate Wealth Management LLC now owns 1,950 shares of the conglomerate’s stock worth $370,000 after buying an additional 11 shares during the last quarter. Capital Management Corp VA increased its stake in shares of 3M by 0.3% in the first quarter. Capital Management Corp VA now owns 3,934 shares of the conglomerate’s stock worth $753,000 after buying an additional 11 shares during the last quarter. Finally, Smith Chas P & Associates PA Cpas increased its stake in shares of 3M by 0.7% in the first quarter. Smith Chas P & Associates PA Cpas now owns 1,952 shares of the conglomerate’s stock worth $374,000 after buying an additional 13 shares during the last quarter. 65.78% of the stock is owned by institutional investors.

3M Company Profile

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.

Analyst Recommendations for 3M (NYSE:MMM)

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