3M (NYSE:MMM) PT Lowered to $164.00 at Deutsche Bank Aktiengesellschaft

3M (NYSE:MMMGet Rating) had its target price reduced by stock analysts at Deutsche Bank Aktiengesellschaft from $167.00 to $164.00 in a note issued to investors on Wednesday, Briefing.com reports. The firm presently has a “hold” rating on the conglomerate’s stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 13.72% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Citigroup dropped their price target on shares of 3M from $157.00 to $151.00 in a research report on Wednesday. Morgan Stanley dropped their price target on shares of 3M from $150.00 to $145.00 and set an “underweight” rating for the company in a research report on Thursday, April 7th. Royal Bank of Canada dropped their price target on shares of 3M from $155.00 to $147.00 and set an “underperform” rating for the company in a research report on Tuesday, February 15th. UBS Group dropped their target price on shares of 3M from $168.00 to $118.00 and set a “sell” rating for the company in a research report on Friday, March 11th. Finally, Zacks Investment Research cut shares of 3M from a “hold” rating to a “sell” rating and set a $159.00 target price for the company. in a research report on Friday, April 22nd. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $164.73.

Shares of NYSE:MMM opened at $144.22 on Wednesday. The company’s fifty day moving average price is $147.82 and its 200-day moving average price is $165.79. The firm has a market capitalization of $82.09 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.56 and a beta of 0.97. 3M has a one year low of $139.74 and a one 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.

3M (NYSE:MMMGet Rating) last released its earnings results on Tuesday, April 26th. The conglomerate reported $2.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.34. 3M had a net margin of 16.75% and a return on equity of 40.84%. The company had revenue of $8.80 billion for the quarter, compared to analyst estimates of $8.75 billion. During the same quarter last year, the firm earned $2.77 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities research analysts expect that 3M will post 10.22 EPS for the current year.

Large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in 3M by 0.4% in the 4th quarter. BlackRock Inc. now owns 41,810,186 shares of the conglomerate’s stock valued at $7,426,745,000 after purchasing an additional 179,402 shares in the last quarter. State Street Corp raised its holdings in shares of 3M by 1.5% during the 4th quarter. State Street Corp now owns 30,979,936 shares of the conglomerate’s stock worth $5,502,966,000 after acquiring an additional 450,546 shares during the period. Geode Capital Management LLC raised its holdings in shares of 3M by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 10,780,080 shares of the conglomerate’s stock worth $1,910,601,000 after acquiring an additional 127,388 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of 3M by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,557,291 shares of the conglomerate’s stock worth $1,875,293,000 after acquiring an additional 361,507 shares during the period. Finally, Morgan Stanley raised its holdings in shares of 3M by 16.4% during the 2nd quarter. Morgan Stanley now owns 5,903,837 shares of the conglomerate’s stock worth $1,172,678,000 after acquiring an additional 832,796 shares during the period. Hedge funds and other institutional investors own 66.06% of the company’s stock.

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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