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.

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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.

Analyst Recommendations for 3M (NYSE:MMM)

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