3M (NYSE:MMM) Price Target Cut to $122.00 by Analysts at Barclays

3M (NYSE:MMMGet Rating) had its target price decreased by investment analysts at Barclays from $130.00 to $122.00 in a note issued to investors on Wednesday, The Fly reports. Barclays‘s price objective indicates a potential upside of 6.09% from the company’s current price.

MMM has been the topic of a number of other research reports. Citigroup increased their price objective on 3M from $117.00 to $126.00 and gave the company a “neutral” rating in a research note on Friday, December 9th. StockNews.com began coverage on 3M in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley increased their price objective on 3M from $108.00 to $110.00 and gave the company an “underweight” rating in a research note on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft increased their price objective on 3M from $126.00 to $127.00 in a research note on Wednesday, October 26th. Finally, Wells Fargo & Company increased their price objective on 3M from $123.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, January 19th. Three equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to MarketBeat.com, 3M currently has a consensus rating of “Hold” and an average target price of $131.71.

3M Stock Down 6.2 %

3M stock opened at $115.00 on Wednesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.97 and a current ratio of 1.56. The firm has a market capitalization of $63.57 billion, a price-to-earnings ratio of 10.02, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00. 3M has a fifty-two week low of $102.58 and a fifty-two week high of $175.25. The stock’s fifty day moving average is $124.56 and its two-hundred day moving average is $126.19.

3M (NYSE:MMMGet Rating) last posted its earnings results on Tuesday, January 24th. The conglomerate reported $2.28 earnings per share for the quarter, missing the consensus estimate of $2.38 by ($0.10). The firm had revenue of $8.10 billion during the quarter, compared to analyst estimates of $8.09 billion. 3M had a net margin of 18.91% and a return on equity of 40.03%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period last year, the company posted $2.31 EPS. Analysts predict that 3M will post 10.17 EPS for the current fiscal year.

Insider Transactions at 3M

In other news, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of the firm’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $126.28, for a total value of $135,245.88. Following the transaction, the senior vice president now directly owns 3,313 shares in the company, valued at approximately $418,365.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of the firm’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $126.28, for a total transaction of $135,245.88. Following the sale, the senior vice president now directly owns 3,313 shares in the company, valued at approximately $418,365.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Kevin H. Rhodes sold 5,703 shares of the firm’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $126.40, for a total value of $720,859.20. Following the sale, the executive vice president now owns 2,033 shares in the company, valued at $256,971.20. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On 3M

Several hedge funds have recently modified their holdings of the stock. Exeter Financial LLC raised its holdings in shares of 3M by 15.9% during the 4th quarter. Exeter Financial LLC now owns 19,047 shares of the conglomerate’s stock valued at $2,284,000 after buying an additional 2,620 shares during the period. Ziegler Capital Management LLC grew its position in shares of 3M by 5.9% in the 4th quarter. Ziegler Capital Management LLC now owns 17,179 shares of the conglomerate’s stock worth $2,060,000 after acquiring an additional 963 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in 3M by 1.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 12,175 shares of the conglomerate’s stock valued at $1,460,000 after purchasing an additional 222 shares during the period. Koshinski Asset Management Inc. raised its stake in 3M by 0.5% during the 4th quarter. Koshinski Asset Management Inc. now owns 27,691 shares of the conglomerate’s stock valued at $3,321,000 after acquiring an additional 129 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its stake in 3M by 8.6% during the 4th quarter. First Citizens Bank & Trust Co. now owns 47,494 shares of the conglomerate’s stock valued at $5,696,000 after acquiring an additional 3,776 shares in the last quarter. 65.61% of the stock is currently owned by hedge funds and other institutional investors.

3M Company Profile

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3M Co is a technology company, which manufactures industrial, safety, and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, Consumer, and Corporate and Unallocated. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.

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