3M’s (MMM) Neutral Rating Reaffirmed at JPMorgan Chase & Co.

3M (NYSE:MMM)‘s stock had its “neutral” rating reissued by equities researchers at JPMorgan Chase & Co. in a research note issued on Friday,Benzinga reports. They currently have a $182.00 price target on the conglomerate’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 6.46% from the stock’s current price.

Several other research firms have also recently commented on MMM. Wolfe Research lowered their price target on shares of 3M from $197.00 to $196.00 and set an “outperform” rating on the stock in a report on Thursday. Wells Fargo & Company raised their price target on 3M from $176.00 to $183.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. UBS Group lifted their price target on 3M from $184.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Morgan Stanley set a $160.00 price objective on 3M and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Finally, Barclays lifted their target price on shares of 3M from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $175.80.

3M Price Performance

Shares of MMM opened at $170.95 on Friday. The business’s 50-day moving average is $166.04 and its 200-day moving average is $159.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.84 and a quick ratio of 1.40. The company has a market capitalization of $90.81 billion, a price-to-earnings ratio of 27.31, a P/E/G ratio of 2.38 and a beta of 1.09. 3M has a fifty-two week low of $121.98 and a fifty-two week high of $174.69.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, October 21st. The conglomerate reported $2.19 EPS for the quarter, topping the consensus estimate of $2.07 by $0.12. 3M had a net margin of 13.70% and a return on equity of 98.47%. The business had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same period last year, the company posted $1.98 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. 3M has set its FY 2025 guidance at 7.950-8.05 EPS. Equities research analysts expect that 3M will post 7.8 EPS for the current fiscal year.

Insider Activity at 3M

In other news, EVP Mark W. Murphy sold 19,061 shares of 3M stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $166.55, for a total value of $3,174,609.55. Following the transaction, the executive vice president owned 6,594 shares of the company’s stock, valued at $1,098,230.70. This trade represents a 74.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Zoe L. Dickson sold 13,826 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $169.78, for a total transaction of $2,347,378.28. Following the sale, the executive vice president directly owned 6,162 shares of the company’s stock, valued at approximately $1,046,184.36. This represents a 69.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 46,516 shares of company stock worth $7,836,465. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On 3M

Institutional investors have recently made changes to their positions in the business. Burns Matteson Capital Management LLC lifted its position in shares of 3M by 75.5% during the 4th quarter. Burns Matteson Capital Management LLC now owns 3,657 shares of the conglomerate’s stock worth $585,000 after purchasing an additional 1,573 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its position in 3M by 0.8% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 10,711 shares of the conglomerate’s stock worth $1,715,000 after buying an additional 90 shares during the period. First Bank & Trust acquired a new position in shares of 3M during the fourth quarter worth approximately $828,000. SG Americas Securities LLC boosted its position in shares of 3M by 806.1% in the fourth quarter. SG Americas Securities LLC now owns 314,460 shares of the conglomerate’s stock valued at $50,345,000 after acquiring an additional 279,757 shares during the period. Finally, Old Port Advisors acquired a new stake in shares of 3M in the fourth quarter worth $229,000. 65.25% of the stock is currently owned by institutional investors.

3M Company Profile

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).