3M (NYSE:MMM) Price Target Raised to $194.00

3M (NYSE:MMM) had its price target boosted by Deutsche Bank Aktiengesellschaft from $192.00 to $194.00 in a research report released on Wednesday morning. Deutsche Bank Aktiengesellschaft currently has a hold rating on the conglomerate’s stock.

Several other equities research analysts also recently issued reports on the stock. Wolfe Research restated an “outperform” rating on shares of 3M in a research report on Thursday, July 9th. Weiss Ratings raised 3M from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. Jefferies Financial Group increased their target price on 3M from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Monday, June 29th. Sanford C. Bernstein upgraded 3M from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $145.00 to $171.00 in a research note on Friday, September 25th. Finally, Royal Bank Of Canada increased their price objective on 3M from $123.00 to $132.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 22nd. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, 3M currently has a consensus rating of “Hold” and an average target price of $181.36.

3M Stock Down 0.8%

MMM opened at $161.76 on Wednesday. The stock’s fifty day simple moving average is $173.29 and its 200 day simple moving average is $160.05. 3M has a 1-year low of $139.34 and a 1-year high of $184.90. The stock has a market cap of $83.42 billion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 2.28 and a beta of 0.99. The company has a current ratio of 1.24, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.15. The firm had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.40 billion. 3M had a net margin of 11.90% and a return on equity of 115.87%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.16 earnings per share. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. As a group, research analysts expect that 3M will post 8.97 earnings per share for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 24th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, August 24th. 3M’s dividend payout ratio (DPR) is presently 55.42%.

Insider Activity

In related news, insider Karin Chavez sold 3,635 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total transaction of $663,423.85. Following the completion of the transaction, the insider directly owned 14,035 shares in the company, valued at $2,561,527.85. This represents a 20.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Institutional Trading of 3M

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC raised its position in shares of 3M by 653.6% during the first quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate’s stock worth $344,178,000 after acquiring an additional 2,055,419 shares during the last quarter. Amundi increased its position in 3M by 67.0% during the 2nd quarter. Amundi now owns 4,536,148 shares of the conglomerate’s stock valued at $734,448,000 after purchasing an additional 1,819,178 shares during the period. Ascentis Wealth Management LLC raised its holdings in 3M by 22,972.5% during the 2nd quarter. Ascentis Wealth Management LLC now owns 347,472 shares of the conglomerate’s stock worth $56,259,000 after purchasing an additional 345,966 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 3M by 7.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,935,534 shares of the conglomerate’s stock valued at $637,202,000 after purchasing an additional 270,458 shares during the last quarter. Finally, Nykredit A S acquired a new stake in shares of 3M during the second quarter worth $21,453,000. Institutional investors own 65.25% of the company’s stock.

About 3M

3M is a diversified technology and manufacturing company that develops products and solutions for industrial, workplace safety, transportation, electronics, consumer and other markets. Its portfolio includes adhesives, abrasives, tapes, films, filtration products, personal protective equipment, reflective materials and advanced materials used in manufacturing and commercial applications.

The company sells a broad range of well-known consumer and office products under brands such as Post-it and Scotch.