3M (NYSE:MMM) Upgraded by JPMorgan Chase & Co. to “Overweight”

3M (NYSE:MMM) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has a $111.00 price target on the conglomerate’s stock, up from their previous price target of $110.00. JPMorgan Chase & Co.‘s price objective points to a potential upside of 15.01% from the company’s current price.

Other analysts also recently issued research reports about the stock. StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Barclays cut their target price on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Wells Fargo & Company lowered their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Royal Bank of Canada dropped their price target on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 2nd. Finally, Citigroup raised their price objective on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $104.10.

3M Stock Up 4.7 %

Shares of MMM stock opened at $96.51 on Wednesday. The stock’s fifty day moving average price is $95.82 and its 200 day moving average price is $97.54. 3M has a 1-year low of $71.12 and a 1-year high of $97.84. The company has a market cap of $53.40 billion, a price-to-earnings ratio of -7.64, a price-to-earnings-growth ratio of 1.75 and a beta of 1.02. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.29. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. During the same period in the prior year, the firm earned $1.97 earnings per share. On average, research analysts expect that 3M will post 8.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s 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 sale, 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 SEC, which can be accessed through this link. Insiders own 0.38% of the company’s stock.

Institutional Trading of 3M

Institutional investors have recently bought and sold shares of the business. Tributary Capital Management LLC purchased a new stake in shares of 3M during the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. increased its stake in 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after buying an additional 197 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of 3M during the first quarter valued at approximately $32,000. Briaud Financial Planning Inc purchased a new position in shares of 3M in the third quarter valued at approximately $35,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of 3M during the fourth quarter worth approximately $35,000. 65.25% of the stock is owned by institutional investors and hedge funds.

About 3M

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.