Citigroup Has Lowered Expectations for 3M (NYSE:MMM) Stock Price

3M (NYSE:MMM) had its price target reduced by equities research analysts at Citigroup from $175.00 to $166.00 in a report issued on Monday,MarketScreener reports. The firm presently has a “neutral” rating on the conglomerate’s stock. Citigroup’s price target would suggest a potential upside of 10.56% from the stock’s current price.

Several other analysts also recently weighed in on MMM. Mizuho set a $160.00 price target on 3M in a research note on Wednesday, January 21st. Royal Bank Of Canada dropped their price target on 3M from $136.00 to $125.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 8th. UBS Group reiterated a “buy” rating on shares of 3M in a research note on Friday, March 13th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of 3M from $179.00 to $181.00 and gave the company a “hold” rating in a report on Wednesday, January 21st. Finally, Wolfe Research decreased their target price on shares of 3M from $205.00 to $186.00 and set an “outperform” rating for the company in a research note on Wednesday, April 8th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, 3M has an average rating of “Hold” and a consensus price target of $169.09.

3M Price Performance

Shares of NYSE MMM opened at $150.15 on Monday. 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 company has a market cap of $78.44 billion, a PE ratio of 25.01, a P/E/G ratio of 2.18 and a beta of 1.09. The business has a 50-day simple moving average of $156.12 and a two-hundred day simple moving average of $160.50. 3M has a fifty-two week low of $124.65 and a fifty-two week high of $177.41.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.03. The business had revenue of $6 billion during 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 company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company earned $1.68 earnings per share. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. As a group, equities analysts expect that 3M will post 7.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Theresa E. Reinseth sold 5,145 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $172.75, for a total value of $888,798.75. Following the completion of the transaction, the chief accounting officer owned 2,585 shares of the company’s stock, valued at approximately $446,558.75. This represents a 66.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On 3M

Large investors have recently bought and sold shares of the business. Commonwealth Retirement Investments LLC acquired a new position in 3M in the 4th quarter worth about $28,000. J.Safra Asset Management Corp acquired a new position in 3M in the 3rd quarter worth about $34,000. Westside Investment Management Inc. raised its holdings in 3M by 77.4% in the 3rd quarter. Westside Investment Management Inc. now owns 243 shares of the conglomerate’s stock worth $38,000 after purchasing an additional 106 shares during the period. EQ Wealth Advisors LLC acquired a new position in 3M in the 4th quarter worth about $40,000. Finally, Sfam LLC acquired a new position in 3M in the 4th quarter worth about $45,000. 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).