Royal Bank Of Canada Cuts 3M (NYSE:MMM) Price Target to $133.00

3M (NYSE:MMM) had its target price lowered by Royal Bank Of Canada from $134.00 to $133.00 in a research note released on Wednesday morning, MarketBeat reports. The brokerage currently has an underperform rating on the conglomerate’s stock.

Several other research analysts have also recently weighed in on the stock. Wolfe Research lowered their price target on shares of 3M from $205.00 to $186.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. Barclays lowered their price target on shares of 3M from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Mizuho set a $160.00 target price on shares of 3M in a report on Wednesday, January 21st. Citigroup lowered their target price on shares of 3M from $175.00 to $166.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Finally, Wells Fargo & Company lowered their target price on shares of 3M from $175.00 to $160.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $171.17.

3M Stock Up 1.0%

3M stock opened at $146.24 on Wednesday. The stock has a market cap of $76.28 billion, a P/E ratio of 28.18, a P/E/G ratio of 2.09 and a beta of 1.09. The company has a quick ratio of 1.33, a current ratio of 1.59 and a debt-to-equity ratio of 3.29. 3M has a twelve month low of $134.85 and a twelve month high of $177.41. The company’s 50-day moving average price is $152.62 and its two-hundred day moving average price is $160.04.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.16. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.04 billion. 3M had a net margin of 11.14% and a return on equity of 104.75%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.88 EPS. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. As a group, analysts expect that 3M will post 8.7 EPS for the current year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 13th were given a dividend of $0.78 per share. The ex-dividend date was Friday, February 13th. This represents a $3.12 annualized dividend and a dividend yield of 2.1%. This is a positive change from 3M’s previous quarterly dividend of $0.73. 3M’s dividend payout ratio (DPR) is 60.12%.

Insider Activity

In related news, CAO Theresa E. Reinseth sold 5,145 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $172.75, for a total transaction of $888,798.75. Following the sale, the chief accounting officer owned 2,585 shares in the company, valued at approximately $446,558.75. This trade represents a 66.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of 3M

Several large investors have recently made changes to their positions in MMM. Brighton Jones LLC boosted its position in shares of 3M by 26.6% during the 4th quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate’s stock worth $1,149,000 after acquiring an additional 1,872 shares in the last quarter. Bison Wealth LLC boosted its position in shares of 3M by 10.2% during the 4th quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate’s stock worth $355,000 after acquiring an additional 255 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of 3M by 11.4% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,606 shares of the conglomerate’s stock worth $3,289,000 after acquiring an additional 2,203 shares in the last quarter. WFA of San Diego LLC acquired a new stake in shares of 3M during the 2nd quarter worth approximately $61,000. Finally, Morse Asset Management Inc boosted its position in shares of 3M by 1.8% during the 2nd quarter. Morse Asset Management Inc now owns 10,301 shares of the conglomerate’s stock worth $1,568,000 after acquiring an additional 185 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Company Profile

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).