3M (NYSE:MMM) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

3M (NYSE:MMM) had its price objective increased by analysts at Jefferies Financial Group from $170.00 to $175.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage presently has a “hold” rating on the conglomerate’s stock. Jefferies Financial Group’s target price indicates a potential upside of 6.41% from the company’s current price.

MMM has been the topic of several other research reports. HSBC upped their price objective on 3M from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada decreased their target price on 3M from $134.00 to $133.00 and set an “underperform” rating on the stock in a report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on 3M from $181.00 to $171.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. UBS Group reaffirmed a “buy” rating on shares of 3M in a report on Friday, March 13th. Finally, The Goldman Sachs Group raised shares of 3M to a “buy” rating and set a $190.00 price objective for the company in a research report on Monday, June 15th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $170.00.

3M Stock Performance

Shares of MMM opened at $164.46 on Monday. The firm has a 50-day moving average of $152.38 and a 200-day moving average of $156.54. 3M has a one year low of $139.34 and a one year high of $177.41. The company has a market cap of $85.78 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 2.32 and a beta of 1.03. The company has a debt-to-equity ratio of 3.29, a current ratio of 1.59 and a quick ratio of 1.19.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.16. 3M had a net margin of 11.14% and a return on equity of 104.75%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $6.04 billion. During the same period in the previous year, the business earned $1.88 EPS. 3M’s revenue for the quarter was up 1.3% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. As a group, equities analysts forecast that 3M will post 8.71 earnings per share for the current year.

Hedge Funds Weigh In On 3M

A number of large investors have recently made changes to their positions in MMM. SG Americas Securities LLC boosted its stake in 3M by 653.6% in the 1st quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate’s stock valued at $344,178,000 after purchasing an additional 2,055,419 shares during the period. PFA Pension Forsikringsaktieselskab bought a new position in 3M during the 4th quarter worth $65,009,000. Entropy Technologies LP acquired a new stake in shares of 3M during the first quarter worth $10,945,000. Align Financial LLC acquired a new stake in shares of 3M during the fourth quarter worth $4,101,000. Finally, Allstate Corp boosted its position in shares of 3M by 107.1% in the fourth quarter. Allstate Corp now owns 41,212 shares of the conglomerate’s stock valued at $6,598,000 after acquiring an additional 21,316 shares during the period. Institutional investors 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).