Citigroup Inc. Trims 3M Company (MMM) Target Price to $228.00
3M Company (NYSE:MMM) had its target price decreased by Citigroup Inc. from $230.00 to $228.00 in a research report released on Wednesday morning. Citigroup Inc. currently has a buy rating on the conglomerate’s stock.
Other equities analysts have also issued research reports about the company. Morgan Stanley increased their target price on 3M from $178.00 to $193.00 and gave the company an underweight rating in a report on Friday, June 9th. Stifel Nicolaus reissued a hold rating and issued a $202.00 target price on shares of 3M in a report on Wednesday, July 19th. BidaskClub lowered 3M from a buy rating to a hold rating in a report on Monday, July 24th. Zacks Investment Research raised 3M from a hold rating to a buy rating and set a $237.00 target price on the stock in a report on Monday, June 19th. Finally, Royal Bank Of Canada reissued a sector perform rating and issued a $209.00 target price (down previously from $210.00) on shares of 3M in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $203.40.
3M (MMM) traded down 0.16% during mid-day trading on Wednesday, hitting $199.72. The stock had a trading volume of 1,488,022 shares. 3M has a 52-week low of $163.85 and a 52-week high of $214.57. The stock has a market cap of $119.19 billion, a P/E ratio of 22.78 and a beta of 1.09. The firm has a 50-day moving average of $209.43 and a 200-day moving average of $194.56.
3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by $0.01. The company had revenue of $7.81 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company posted $2.08 EPS. On average, analysts forecast that 3M will post $8.94 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: This report was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this report on another website, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The original version of this report can be viewed at https://www.watchlistnews.com/citigroup-inc-trims-3m-company-mmm-target-price-to-228-00/1462883.html.
In other 3M news, insider Jon T. Lindekugel sold 1,300 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $197.22, for a total value of $256,386.00. Following the completion of the transaction, the insider now owns 2,238 shares in the company, valued at $441,378.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Marlene Mary Mcgrath sold 14,766 shares of the company’s stock in a transaction on 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 33,698 shares of company stock valued at $6,593,443 in the last 90 days. 0.58% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Cable Hill Partners LLC increased its stake in shares of 3M by 2.4% in the first quarter. Cable Hill Partners LLC now owns 635 shares of the conglomerate’s stock valued at $122,000 after buying an additional 15 shares during the period. Reilly Financial Advisors LLC increased its stake in shares of 3M by 3.9% in the first quarter. Reilly Financial Advisors LLC now owns 642 shares of the conglomerate’s stock valued at $123,000 after buying an additional 24 shares during the period. Proficio Capital Partners LLC increased its stake in shares of 3M by 156.0% in the first quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock valued at $131,000 after buying an additional 404 shares during the period. 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 valued at $128,000 after buying an additional 4 shares during the period. Finally, American Research & Management Co. increased its stake in shares of 3M by 8.1% in the first quarter. American Research & Management Co. now owns 935 shares of the conglomerate’s stock valued at $179,000 after buying an additional 70 shares during the period. Institutional investors own 65.78% of the company’s stock.
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.
Receive News & Ratings for 3M Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M Company and related companies with Analyst Ratings Network's FREE daily email newsletter.