3M (NYSE:MMM) Given New $110.00 Price Target at JPMorgan Chase & Co.

3M (NYSE:MMM) had its price objective cut by JPMorgan Chase & Co. from $118.00 to $110.00 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the conglomerate’s stock.

Other research analysts also recently issued research reports about the stock. Mizuho reiterated a neutral rating and issued a $105.00 target price on shares of 3M in a research note on Wednesday, March 27th. Bank of America decreased their price objective on shares of 3M from $110.00 to $100.00 and set a neutral rating for the company in a report on Tuesday, April 2nd. Royal Bank of Canada decreased their price objective on shares of 3M from $84.00 to $78.00 and set an underperform rating for the company in a report on Tuesday, April 2nd. StockNews.com raised shares of 3M from a buy rating to a strong-buy rating in a report on Tuesday. Finally, Barclays decreased their price objective on shares of 3M from $126.00 to $107.00 and set an overweight rating for the company in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $104.00.

3M Trading Down 0.1 %

NYSE:MMM opened at $90.95 on Wednesday. 3M has a one year low of $71.12 and a one year high of $95.67. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. The company’s 50-day simple moving average is $95.81 and its 200 day simple moving average is $97.26.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.11. The firm had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.28 earnings per share. As a group, equities analysts anticipate that 3M will post 8.79 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 annualized dividend and a yield of 6.64%. This is a positive change from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio (DPR) is -47.82%.

Insider Buying and Selling at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On 3M

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Markel Corp increased its stake in 3M by 6.5% in the 1st quarter. Markel Corp now owns 269,750 shares of the conglomerate’s stock worth $40,161,000 after buying an additional 16,550 shares during the period. Axiom Financial Strategies LLC increased its stake in 3M by 5.3% in the 1st quarter. Axiom Financial Strategies LLC now owns 6,513 shares of the conglomerate’s stock worth $942,000 after buying an additional 326 shares during the period. Dakota Wealth Management purchased a new position in 3M in the 1st quarter worth about $246,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in 3M by 17.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,532 shares of the conglomerate’s stock worth $972,000 after buying an additional 977 shares during the period. Finally, Covestor Ltd increased its stake in 3M by 73.0% in the 1st quarter. Covestor Ltd now owns 1,275 shares of the conglomerate’s stock worth $190,000 after buying an additional 538 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Company Profile

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.