Shares of 3M Co. (NYSE:MMM) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $177.18 and last traded at $176.81, with a volume of 1,169,714 shares changing hands. The stock had previously closed at $174.87.

Several analysts have issued reports on the stock. Jefferies Group reaffirmed a “buy” rating on shares of 3M in a research report on Wednesday. Citigroup Inc. reissued a “buy” rating and set a $191.00 price target (up previously from $168.00) on shares of 3M in a research report on Tuesday, April 19th. Sanford C. Bernstein reissued a “market perform” rating on shares of 3M in a research report on Monday, June 27th. Morgan Stanley reissued a “sell” rating on shares of 3M in a research report on Friday, June 10th. Finally, Zacks Investment Research downgraded shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $161.11.

The stock’s 50 day moving average price is $170.36 and its 200-day moving average price is $161.32. The company has a market cap of $107.43 billion and a P/E ratio of 22.77.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.13. The business had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.33 billion. During the same quarter last year, the firm earned $1.85 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities analysts anticipate that 3M Co. will post $8.25 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 12th. Stockholders of record on Friday, May 20th were issued a dividend of $1.11 per share. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.51%.

In other news, SVP Jesse G. Singh sold 10,606 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $169.91, for a total transaction of $1,802,065.46. Following the completion of the transaction, the senior vice president now directly owns 13,481 shares in the company, valued at $2,290,556.71. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael F. Roman sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $170.00, for a total value of $255,000.00. Following the transaction, the executive vice president now owns 5,812 shares of the company’s stock, valued at $988,040. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of 3M by 2.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 189,045 shares of the company’s stock worth $28,478,000 after buying an additional 3,794 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of 3M by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 137,817 shares of the company’s stock worth $20,761,000 after buying an additional 1,000 shares during the period. WealthTrust Fairport LLC raised its position in shares of 3M by 0.4% in the fourth quarter. WealthTrust Fairport LLC now owns 42,954 shares of the company’s stock worth $6,471,000 after buying an additional 187 shares during the period. National Penn Investors Trust Co. PA raised its position in shares of 3M by 1.3% in the fourth quarter. National Penn Investors Trust Co. PA now owns 31,442 shares of the company’s stock worth $4,736,000 after buying an additional 408 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of 3M by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 1,175,506 shares of the company’s stock worth $177,078,000 after buying an additional 18,765 shares during the period.

3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.

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