3M (NYSE:MMM) Price Target Raised to $152.00

3M (NYSE:MMM) had its price target upped by Citigroup from $142.00 to $152.00 in a research note issued to investors on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the conglomerate’s stock.

Several other analysts also recently weighed in on MMM. Royal Bank of Canada dropped 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. JPMorgan Chase & Co. cut their price objective on 3M from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. Bank of America boosted their price target on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Barclays lowered their price objective on shares of 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, 3M presently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

3M Stock Performance

NYSE MMM opened at $149.61 on Wednesday. The stock has a fifty day simple moving average of $132.43 and a 200-day simple moving average of $128.82. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The stock has a market cap of $81.47 billion, a PE ratio of 19.82, a P/E/G ratio of 2.46 and a beta of 0.95. 3M has a twelve month low of $75.40 and a twelve month high of $152.08.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share 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 analyst estimates of $5,770,390 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. 3M’s revenue was down 25.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.42 earnings per share. Equities analysts anticipate that 3M will post 7.66 earnings per share for the current year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio is presently 37.09%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Financial Life Planners purchased a new stake in 3M during the fourth quarter worth approximately $25,000. FSA Wealth Management LLC purchased a new stake in shares of 3M during the 3rd quarter worth approximately $27,000. Daymark Wealth Partners LLC boosted its holdings in shares of 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after buying an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. grew its position in shares of 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after buying an additional 121 shares during the last quarter. Finally, ORG Partners LLC raised its stake in 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 98 shares in the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

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.