Citigroup Increases 3M (NYSE:MMM) Price Target to $152.00

3M (NYSE:MMM) had its price target raised by stock analysts at Citigroup from $142.00 to $152.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the conglomerate’s stock. Citigroup’s price target points to a potential upside of 3.50% from the company’s current price.

MMM has been the subject of a number of other reports. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research report on Saturday. Mizuho increased their price target on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada cut their price objective on 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a research report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, 3M presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

3M Trading Up 4.1 %

Shares of NYSE MMM opened at $146.86 on Wednesday. 3M has a 1-year low of $75.40 and a 1-year high of $150.00. 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 business’s 50 day moving average is $131.40 and its two-hundred day moving average is $128.20. The stock has a market capitalization of $79.98 billion, a P/E ratio of 18.54, a PEG ratio of 2.30 and a beta of 0.95.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5,770,390 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company’s revenue for the quarter was down 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.42 EPS. As a group, research analysts expect that 3M will post 7.28 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. FSA Wealth Management LLC acquired a new stake in shares of 3M in the 3rd quarter worth $27,000. Daymark Wealth Partners LLC boosted its stake in 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. grew its position in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 121 shares during the last quarter. ORG Partners LLC increased its stake in 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares in the last quarter. Finally, True Wealth Design LLC raised its holdings in shares of 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after buying an additional 296 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

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.