Analysts Set 3M Company (NYSE:MMM) Target Price at $175.40

Shares of 3M Company (NYSE:MMM) have received an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $175.40.

A number of equities analysts have recently issued reports on MMM shares. Barclays increased their price objective 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. Wolfe Research lifted their price target on 3M from $187.00 to $197.00 and gave the company an “outperform” rating in a report on Thursday, November 13th. JPMorgan Chase & Co. boosted their price target on 3M from $175.00 to $178.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Wells Fargo & Company raised their price objective on 3M from $176.00 to $183.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Morgan Stanley set a $160.00 target price on shares of 3M and gave the stock an “equal weight” rating in a report on Tuesday, October 21st.

Insider Buying and Selling at 3M

In related news, EVP Mark W. Murphy sold 19,061 shares of the business’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $166.55, for a total transaction of $3,174,609.55. Following the transaction, the executive vice president directly owned 6,594 shares in the company, valued at $1,098,230.70. The trade was a 74.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Zoe L. Dickson sold 13,826 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $169.78, for a total value of $2,347,378.28. Following the transaction, the executive vice president directly owned 6,162 shares in the company, valued at $1,046,184.36. This represents a 69.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 46,516 shares of company stock worth $7,836,465 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On 3M

Hedge funds have recently modified their holdings of the stock. Old Port Advisors purchased a new stake in 3M during the 4th quarter worth approximately $229,000. Harbor Investment Advisory LLC raised its holdings in shares of 3M by 4.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 1,802 shares of the conglomerate’s stock worth $288,000 after buying an additional 72 shares during the last quarter. Neville Rodie & Shaw Inc. lifted its stake in shares of 3M by 1.0% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 24,110 shares of the conglomerate’s stock worth $3,860,000 after buying an additional 250 shares during the period. Park National Corp OH grew its holdings in shares of 3M by 0.9% during the fourth quarter. Park National Corp OH now owns 18,178 shares of the conglomerate’s stock valued at $2,910,000 after buying an additional 156 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of 3M by 5.3% in the 4th quarter. GAMMA Investing LLC now owns 18,390 shares of the conglomerate’s stock valued at $2,944,000 after acquiring an additional 924 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Price Performance

Shares of MMM stock opened at $165.32 on Friday. 3M has a twelve month low of $121.98 and a twelve month high of $174.69. The stock has a market capitalization of $87.82 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 2.34 and a beta of 1.09. The stock has a fifty day simple moving average of $165.53 and a two-hundred day simple moving average of $158.67. The company has a current ratio of 1.84, a quick ratio of 1.40 and a debt-to-equity ratio of 2.54.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, February 21st. The conglomerate reported $2.45 EPS for the quarter. 3M had a return on equity of 98.47% and a net margin of 13.70%.The firm had revenue of $8.38 billion for the quarter. 3M has set its FY 2025 guidance at 7.950-8.05 EPS. On average, analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 14th were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, November 14th. 3M’s dividend payout ratio (DPR) is 46.65%.

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).