3M (NYSE:MMM) Price Target Cut to $182.00

3M (NYSE:MMM) had its price objective reduced by equities researchers at UBS Group from $201.00 to $182.00 in a report released on Friday, MarketBeat Ratings reports. The firm presently has a “neutral” rating on the conglomerate’s stock. UBS Group’s target price would indicate a potential upside of 5.00% from the stock’s current price.

Several other research firms have also recently weighed in on MMM. Royal Bank of Canada cut shares of 3M from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $207.00 to $176.00 in a report on Monday, July 8th. Gordon Haskett lowered shares of 3M from a “buy” rating to a “hold” rating and set a $191.98 target price on the stock. in a research report on Monday, April 29th. Deutsche Bank increased their target price on shares of Rockwell Automation from $173.00 to $186.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Argus increased their target price on shares of Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Bank of America set a $420.00 target price on shares of Boeing and gave the stock a “hold” rating in a research report on Thursday, June 27th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $184.25.

3M stock opened at $173.34 on Friday. The company has a market cap of $97.44 billion, a PE ratio of 16.57, a P/E/G ratio of 1.79 and a beta of 1.09. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.38 and a current ratio of 2.02. 3M has a twelve month low of $159.32 and a twelve month high of $219.75. The firm has a 50-day moving average of $168.54.

3M (NYSE:MMM) last released its quarterly earnings results on Thursday, April 25th. The conglomerate reported $2.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.50 by ($0.27). The company had revenue of $7.86 billion during the quarter, compared to the consensus estimate of $8.02 billion. 3M had a net margin of 17.43% and a return on equity of 57.42%. The firm’s revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.50 earnings per share. As a group, equities analysts forecast that 3M will post 9.29 EPS for the current year.

In other 3M news, Director David B. Dillon bought 1,200 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were purchased at an average price of $169.50 per share, for a total transaction of $203,400.00. Following the transaction, the director now directly owns 1,200 shares in the company, valued at approximately $203,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Joaquin Delgado sold 5,400 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $169.68, for a total transaction of $916,272.00. Following the transaction, the insider now owns 28,092 shares in the company, valued at approximately $4,766,650.56. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 3,200 shares of company stock worth $559,260. Company insiders own 0.83% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of MMM. Lederer & Associates Investment Counsel CA boosted its position in 3M by 2.1% in the first quarter. Lederer & Associates Investment Counsel CA now owns 2,410 shares of the conglomerate’s stock valued at $501,000 after buying an additional 50 shares in the last quarter. Shine Investment Advisory Services Inc. boosted its position in 3M by 35.2% in the first quarter. Shine Investment Advisory Services Inc. now owns 192 shares of the conglomerate’s stock valued at $40,000 after buying an additional 50 shares in the last quarter. Peoples Financial Services CORP. boosted its position in 3M by 0.3% in the first quarter. Peoples Financial Services CORP. now owns 16,027 shares of the conglomerate’s stock valued at $3,330,000 after buying an additional 50 shares in the last quarter. Bfsg LLC boosted its position in 3M by 0.4% in the first quarter. Bfsg LLC now owns 14,084 shares of the conglomerate’s stock valued at $2,926,000 after buying an additional 55 shares in the last quarter. Finally, Nwam LLC boosted its position in 3M by 1.0% in the first quarter. Nwam LLC now owns 5,853 shares of the conglomerate’s stock valued at $1,216,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 66.65% of the company’s stock.

3M Company Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

Recommended Story: Do Tariffs Work?

Analyst Recommendations for 3M (NYSE:MMM)

Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.