3M (NYSE:MMM) Price Target Lowered to $162.00 at JPMorgan Chase & Co.

3M (NYSE:MMM) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $165.00 to $162.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the conglomerate’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 17.95% from the stock’s previous close.

A number of other equities analysts also recently commented on MMM. Wells Fargo & Company lifted their price objective on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Barclays lowered their target price on 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada decreased their target price on 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a research note on Friday, January 3rd. Finally, Mizuho raised their target price on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, 3M currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.13.

3M Stock Performance

3M stock opened at $137.35 on Wednesday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The firm’s fifty day moving average price is $130.90 and its 200 day moving average price is $127.12. The company has a market capitalization of $74.80 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. 3M has a 12-month low of $75.40 and a 12-month high of $141.34.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating the consensus estimate of $1.93 by $0.05. The company had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business’s revenue was down 24.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.68 EPS. On average, research analysts forecast that 3M will post 7.27 EPS for the current fiscal year.

Institutional Trading of 3M

A number of institutional investors have recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new stake in shares of 3M during the 3rd quarter valued at about $27,000. Daymark Wealth Partners LLC raised its position in 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. lifted its stake in 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 121 shares during the last quarter. ORG Partners LLC grew its position in 3M by 44.1% in the fourth 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. Finally, True Wealth Design LLC increased its stake in shares of 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 296 shares during the last quarter. Institutional investors and hedge funds 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.