Jefferies Financial Group Lowers 3M (NYSE:MMM) Price Target to $160.00

3M (NYSE:MMM) had its price objective dropped by equities researchers at Jefferies Financial Group from $180.00 to $160.00 in a report released on Monday,MarketScreener reports. The firm currently has a “hold” rating on the conglomerate’s stock. Jefferies Financial Group’s target price suggests a potential upside of 9.84% from the company’s previous close.

A number of other research firms also recently commented on MMM. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $182.00 price objective on shares of 3M in a report on Friday, January 16th. Wolfe Research boosted their price objective on 3M from $196.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Wells Fargo & Company dropped their price objective on shares of 3M from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Wednesday. Citigroup cut their price objective on shares of 3M from $181.00 to $175.00 and set a “neutral” rating for the company in a research report on Wednesday, January 21st. Finally, Barclays decreased their price objective on 3M from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, 3M currently has a consensus rating of “Hold” and an average target price of $172.64.

3M Price Performance

Shares of MMM stock traded up $0.44 on Monday, reaching $145.67. 964,353 shares of the company were exchanged, compared to its average volume of 4,169,557. 3M has a 1 year low of $121.98 and a 1 year high of $177.41. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.71. The business has a 50-day moving average price of $157.90 and a 200 day moving average price of $161.01. The company has a market cap of $76.09 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 2.07 and a beta of 1.08.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.03. The business had revenue of $6 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.68 earnings per share. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. Equities research analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 3M news, CAO Theresa E. Reinseth sold 5,145 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $172.75, for a total transaction of $888,798.75. Following the sale, the chief accounting officer directly owned 2,585 shares in the company, valued at $446,558.75. This represents a 66.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 3M

A number of hedge funds have recently bought and sold shares of MMM. PeakShares LLC purchased a new position in shares of 3M in the 4th quarter valued at about $947,000. Union Savings Bank purchased a new stake in shares of 3M in the 4th quarter valued at approximately $415,000. Bayban purchased a new stake in shares of 3M in the 4th quarter valued at approximately $1,853,000. DGS Capital Management LLC raised its stake in 3M by 35.5% in the fourth quarter. DGS Capital Management LLC now owns 2,512 shares of the conglomerate’s stock valued at $402,000 after buying an additional 658 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in 3M in the fourth quarter valued at $2,454,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

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).