3M (NYSE:MMM) Price Target Raised to $165.00

3M (NYSE:MMM) had its price target hoisted by equities research analysts at Barclays from $161.00 to $165.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the conglomerate’s stock. Barclays‘s price target would indicate a potential upside of 12.35% from the stock’s current price.

Several other analysts have also commented on MMM. UBS Group raised 3M from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Royal Bank of Canada reduced their target price on shares of 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a report on Friday, January 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research note on Saturday. Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Bank of America upped their price target on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

3M Stock Up 4.1 %

NYSE:MMM opened at $146.86 on Wednesday. The firm has a market cap of $79.98 billion, a P/E ratio of 18.54, a P/E/G ratio of 2.30 and a beta of 0.95. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $150.00. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The firm has a 50-day simple moving average of $131.40 and a two-hundred day simple moving average of $128.20.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5,770,390 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. 3M’s revenue for the quarter was down 25.0% on a year-over-year basis. During the same period last year, the company earned $2.42 EPS. Analysts predict that 3M will post 7.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. CVA Family Office LLC grew its holdings in shares of 3M by 1.9% in the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after purchasing an additional 79 shares during the last quarter. Wynn Capital LLC raised its stake in 3M by 0.7% in the fourth quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock worth $1,509,000 after buying an additional 80 shares in the last quarter. Harbour Investments Inc. raised its position in shares of 3M by 0.8% in the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after acquiring an additional 81 shares in the last quarter. KMG Fiduciary Partners LLC lifted its stake in shares of 3M by 0.5% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after purchasing an additional 84 shares during the last quarter. Finally, TCV Trust & Wealth Management Inc. grew its stake in 3M by 1.3% in the third quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock valued at $884,000 after purchasing an additional 84 shares during the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

About 3M

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.