Deutsche Bank Aktiengesellschaft Trims 3M (NYSE:MMM) Target Price to $167.00

3M (NYSE:MMMGet Rating) had its target price cut by Deutsche Bank Aktiengesellschaft from $180.00 to $167.00 in a research report issued to clients and investors on Thursday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 12.34% from the stock’s previous close.

Several other equities research analysts have also commented on MMM. UBS Group decreased their target price on shares of 3M from $168.00 to $118.00 and set a “sell” rating on the stock in a research report on Friday, March 11th. Jefferies Financial Group decreased their target price on shares of 3M from $186.00 to $161.00 and set a “hold” rating on the stock in a research report on Tuesday, March 15th. Morgan Stanley decreased their target price on shares of 3M from $150.00 to $145.00 and set an “underweight” rating on the stock in a research report on Thursday, April 7th. Credit Suisse Group decreased their target price on shares of 3M from $195.00 to $182.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 15th. Finally, Royal Bank of Canada cut their price target on 3M from $155.00 to $147.00 and set an “underperform” rating for the company in a research note on Tuesday, February 15th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $172.40.

NYSE:MMM opened at $148.66 on Thursday. The firm’s fifty day moving average price is $149.88 and its 200 day moving average price is $167.74. 3M has a 1-year low of $139.74 and a 1-year high of $208.95. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.70 and a quick ratio of 1.15. The firm has a market cap of $84.61 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 1.53 and a beta of 0.97.

3M (NYSE:MMMGet Rating) last posted its quarterly earnings data on Tuesday, January 25th. The conglomerate reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.28. 3M had a net margin of 16.75% and a return on equity of 40.84%. The firm had revenue of $8.61 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same period last year, the firm posted $2.38 EPS. 3M’s quarterly revenue was up .3% on a year-over-year basis. As a group, analysts expect that 3M will post 10.23 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Kovack Advisors Inc. raised its stake in 3M by 1.1% in the 4th quarter. Kovack Advisors Inc. now owns 5,191 shares of the conglomerate’s stock valued at $922,000 after purchasing an additional 56 shares during the last quarter. Stockman Wealth Management Inc. increased its stake in shares of 3M by 1.5% during the 3rd quarter. Stockman Wealth Management Inc. now owns 3,805 shares of the conglomerate’s stock valued at $667,000 after acquiring an additional 57 shares during the last quarter. Modera Wealth Management LLC increased its stake in shares of 3M by 0.7% during the 3rd quarter. Modera Wealth Management LLC now owns 8,155 shares of the conglomerate’s stock valued at $1,431,000 after acquiring an additional 57 shares during the last quarter. Kistler Tiffany Companies LLC increased its stake in shares of 3M by 1.6% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 3,534 shares of the conglomerate’s stock valued at $620,000 after acquiring an additional 57 shares during the last quarter. Finally, HNP Capital LLC increased its stake in shares of 3M by 0.8% during the 4th quarter. HNP Capital LLC now owns 6,959 shares of the conglomerate’s stock valued at $1,236,000 after acquiring an additional 57 shares during the last quarter. 66.06% of the stock is owned by hedge funds and other institutional investors.

About 3M (Get Rating)

3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

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