3M (NYSE: MMM) Receives New Price Target of $ 205.00 at JPMorgan Chase & Co.
3M (NYSE: MMM) saw its price target lowered by equity researchers at JPMorgan Chase & Co. from $ 210.00 to $ 205 in a research note released to investors Wednesday, The Fly reports. The brokerage firm currently has a “neutral” rating on the shares of the conglomerate. JPMorgan Chase & Co.’s target price would indicate a potential rise of 12.66% from the current share price.
MMM has been the subject of a number of other research reports. Wells Fargo & Company raised its price target for 3M from $ 179.00 to $ 180.00 and gave the stock an “equal weight” rating in a research report published on Wednesday, October 27. The UBS Group reduced its price target on 3M from $ 183.00 to $ 172.00 and set a “sell” rating for the company in a research report published on Friday, September 17. Morgan Stanley raised its 3M price target from $ 193.00 to $ 194.00 and gave the stock an “equal weight” rating in a research report published on Wednesday, October 27. Credit Suisse Group reduced its price target on 3M from $ 202.00 to $ 201.00 and established a “neutral” rating for the company in a research report published on Wednesday, October 27. Finally, Argus raised its price target on 3M from $ 220.00 to $ 225.00 and gave the stock a “buy” rating in a research report published on Wednesday, July 28. They noted that the move was an appraisal call. Four analysts gave the stock a sell rating, seven issued a conservation rating and three gave the company a buy rating. Based on data from MarketBeat, the stock currently has an average “Hold” rating and a consensus target price of $ 195.08.
MMM stock opened at $ 181.97 on Wednesday. 3M has a fifty-two week low of $ 159.90 and a fifty-two week high of $ 208.95. The company’s 50-day moving average is $ 183.18 and its two-hundred-day moving average is $ 193.96. The company has a debt to equity ratio of 1.11, a quick ratio of 1.19, and a current ratio of 1.70. The company has a market cap of $ 105.30 billion, a price / earnings ratio of 17.86, a P / E / G ratio of 1.92, and a beta of 0.96.
3M (NYSE: MMM) last released its results on Monday, October 25. The conglomerate reported earnings per share of $ 2.45 for the quarter, beating analysts’ consensus estimates of $ 2.21 by $ 0.24. The company posted revenue of $ 8.94 billion for the quarter, compared to a consensus estimate of $ 8.67 billion. 3M had a return on equity of 42.80% and a net margin of 16.90%. 3M revenue grew 7.1% year-over-year. In the same quarter of the previous year, the company achieved earnings per share of $ 2.43. Stock analysts predict 3M will post earnings per share of 9.86 for the current year.
Meanwhile, insider Khandpur K. Ashish sold 6,505 shares in a trade that took place on Monday, August 9. The stock was sold at an average price of $ 196.86, for a total trade of $ 1,280,574.30. Following the closing of the transaction, the insider now directly owns 26,855 shares of the company, valued at $ 5,286,675.30. The sale was disclosed in a filing with the SEC, which is available through this link. Additionally, insider Jeffrey R. Lavers sold 6,025 shares in a trade that took place on Wednesday, August 11. The shares were sold for an average price of $ 200.00, for a total value of $ 1,205,000.00. As a result of the transaction, the insider now directly owns 10,973 shares of the company, valued at $ 2,194,600. Disclosure of this sale can be found here. In the past three months, insiders have sold 15,766 shares of the company valued at $ 3,126,076. 0.34% of the shares are held by insiders.
Several large investors have recently bought and sold shares in the company. Alphastar Capital Management LLC raised its stake in 3M shares by 21.9% in the 3rd quarter. Alphastar Capital Management LLC now owns 7,308 shares of the conglomerate valued at $ 1,331,000 after purchasing an additional 1,313 shares in the last quarter. Martin & Co. Inc. TN increased its stake in 3M shares by 9.4% in the 3rd quarter. Martin & Co. Inc. TN now owns 6,011 shares of the conglomerate valued at $ 1,054,000 after purchasing 515 additional shares during the last quarter. Eagle Ridge Investment Management increased its stake in 3M shares by 3.7% in the 3rd quarter. Eagle Ridge Investment Management now owns 12,117 shares of the conglomerate valued at $ 2,126,000 after purchasing an additional 432 shares in the last quarter. Financial Management Professionals Inc. increased its stake in 3M shares by 7.3% in the third quarter. Financial Management Professionals Inc. now owns 906 shares of the conglomerate valued at $ 159,000 after purchasing 62 additional shares in the last quarter. Finally, Baker Tilly Wealth Management LLC increased its stake in 3M shares by 9.7% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 5,558 shares of the conglomerate valued at $ 975,000 after purchasing an additional 490 shares in the last quarter. 66.73% of the shares are held by institutional investors and hedge funds.
3M Co is a technology company that manufactures industrial, safety and consumer products. It operates in the following sectors: security and industry, transport and electronics, healthcare and consumer. The Security & Industry segment includes personal security, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket and roofing pellets.
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