JPMorgan Chase & Co. Reiterates “Neutral” Rating for 3M (NYSE:MMM)

3M (NYSE:MMM)‘s stock had its “neutral” rating reissued by stock analysts at JPMorgan Chase & Co. in a report issued on Friday,Benzinga reports. They presently have a $182.00 price target on the conglomerate’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 6.46% from the stock’s current price.

A number of other brokerages have also recently weighed in on MMM. Citigroup increased their price target on 3M from $160.00 to $169.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Royal Bank Of Canada restated an “underperform” rating and set a $131.00 price objective on shares of 3M in a research note on Thursday. Morgan Stanley set a $160.00 target price on shares of 3M and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft lowered shares of 3M from a “buy” rating to a “hold” rating and reduced their price target for the stock from $199.00 to $178.00 in a research note on Monday, December 8th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of 3M in a research note on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, 3M presently has a consensus rating of “Hold” and a consensus price target of $175.80.

3M Trading Up 0.6%

MMM opened at $170.95 on Friday. The stock has a market capitalization of $90.81 billion, a PE ratio of 27.31, a P/E/G ratio of 2.38 and a beta of 1.09. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.84 and a quick ratio of 1.40. 3M has a 12-month low of $121.98 and a 12-month high of $174.69. The firm’s fifty day moving average price is $166.04 and its 200 day moving average price is $159.33.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, October 21st. The conglomerate reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.12. 3M had a net margin of 13.70% and a return on equity of 98.47%. The company had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same period last year, the firm posted $1.98 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. 3M has set its FY 2025 guidance at 7.950-8.05 EPS. As a group, research analysts expect that 3M will post 7.8 EPS for the current fiscal year.

Insider Buying and Selling at 3M

In other news, EVP Zoe L. Dickson sold 13,826 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $169.78, for a total transaction of $2,347,378.28. Following the completion of the sale, the executive vice president directly owned 6,162 shares of the company’s stock, valued at $1,046,184.36. This represents a 69.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark W. Murphy sold 19,061 shares of the company’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $166.55, for a total value of $3,174,609.55. Following the sale, the executive vice president directly owned 6,594 shares of the company’s stock, valued at approximately $1,098,230.70. This represents a 74.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 46,516 shares of company stock worth $7,836,465 in the last ninety days. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of 3M

Several institutional investors and hedge funds have recently bought and sold shares of MMM. SG Americas Securities LLC boosted its holdings in shares of 3M by 806.1% in the fourth quarter. SG Americas Securities LLC now owns 314,460 shares of the conglomerate’s stock worth $50,345,000 after buying an additional 279,757 shares during the period. Handelsbanken Fonder AB lifted its position in shares of 3M by 0.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 267,676 shares of the conglomerate’s stock valued at $41,538,000 after acquiring an additional 2,316 shares in the last quarter. Adams Diversified Equity Fund Inc. acquired a new position in 3M in the 2nd quarter worth approximately $21,009,000. Willis Investment Counsel grew its position in 3M by 9.9% during the 2nd quarter. Willis Investment Counsel now owns 134,234 shares of the conglomerate’s stock worth $20,436,000 after purchasing an additional 12,107 shares in the last quarter. Finally, McGowan Group Asset Management Inc. raised its stake in 3M by 1.1% during the 2nd quarter. McGowan Group Asset Management Inc. now owns 128,659 shares of the conglomerate’s stock valued at $19,587,000 after purchasing an additional 1,416 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

About 3M

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M’s businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).