Royal Bank Of Canada Has Lowered Expectations for 3M (NYSE:MMM) Stock Price

3M (NYSE:MMM) had its price objective decreased by equities researchers at Royal Bank Of Canada from $136.00 to $125.00 in a report issued on Wednesday,MarketScreener reports. The brokerage presently has an “underperform” rating on the conglomerate’s stock. Royal Bank Of Canada’s price target would indicate a potential downside of 16.91% from the stock’s current price.

MMM has been the subject of several other research reports. Morgan Stanley lifted their price target on 3M from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. Wolfe Research dropped their price target on 3M from $205.00 to $186.00 and set an “outperform” rating for the company in a research note on Wednesday. Jefferies Financial Group dropped their price target on 3M from $180.00 to $160.00 and set a “hold” rating for the company in a research note on Monday, March 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $182.00 price target on shares of 3M in a research note on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on 3M from $179.00 to $181.00 and gave the stock a “hold” rating in a research note on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $169.91.

3M Price Performance

NYSE:MMM opened at $150.44 on Wednesday. The firm has a market capitalization of $78.59 billion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 2.17 and a beta of 1.09. 3M has a 52-week low of $124.65 and a 52-week high of $177.41. The stock has a fifty day moving average of $156.18 and a 200 day moving average of $160.46. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.71.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.03. 3M had a return on equity of 95.36% and a net margin of 13.03%.The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the previous year, the company posted $1.68 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. On average, research analysts expect that 3M will post 7.8 EPS for the current fiscal year.

Insider Buying and Selling at 3M

In other news, CAO Theresa E. Reinseth sold 5,145 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $172.75, for a total value of $888,798.75. Following the completion of the sale, the chief accounting officer owned 2,585 shares of the company’s stock, valued at approximately $446,558.75. The trade was a 66.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On 3M

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. PFA Pension Forsikringsaktieselskab bought a new stake in shares of 3M in the 4th quarter valued at about $65,009,000. SG Americas Securities LLC lifted its stake in shares of 3M by 806.1% in the 4th quarter. SG Americas Securities LLC now owns 314,460 shares of the conglomerate’s stock valued at $50,345,000 after acquiring an additional 279,757 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of 3M by 1.5% in the 4th quarter. Handelsbanken Fonder AB now owns 271,777 shares of the conglomerate’s stock valued at $43,511,000 after acquiring an additional 4,101 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of 3M by 2.9% in the 4th quarter. Captrust Financial Advisors now owns 156,676 shares of the conglomerate’s stock valued at $25,084,000 after acquiring an additional 4,372 shares during the last quarter. Finally, Willis Investment Counsel lifted its stake in shares of 3M by 1.5% in the 4th quarter. Willis Investment Counsel now owns 136,141 shares of the conglomerate’s stock valued at $21,796,000 after acquiring an additional 2,077 shares during the last quarter. Institutional investors 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).