Royal Bank Of Canada Lowers 3M (NYSE:MMM) Price Target to $123.00

3M (NYSE:MMM) had its price objective decreased by equities research analysts at Royal Bank Of Canada from $133.00 to $123.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “underperform” rating on the conglomerate’s stock. Royal Bank Of Canada’s target price would suggest a potential downside of 23.03% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings cut 3M from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 1st. Sanford C. Bernstein assumed coverage on shares of 3M in a research note on Tuesday, June 9th. They issued an “underperform” rating and a $131.00 price target on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of 3M from $181.00 to $171.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Barclays reduced their price objective on shares of 3M from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Finally, The Goldman Sachs Group raised shares of 3M to a “buy” rating and set a $190.00 target price for the company in a report on Monday, June 15th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $169.43.

3M Stock Performance

Shares of MMM opened at $159.81 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.59 and a debt-to-equity ratio of 3.29. The business’s 50 day moving average price is $156.11 and its 200-day moving average price is $156.14. 3M has a 52 week low of $139.34 and a 52 week high of $177.41. The stock has a market cap of $83.35 billion, a P/E ratio of 30.79, a P/E/G ratio of 2.28 and a beta of 1.02.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $6.04 billion. 3M had a return on equity of 104.75% and a net margin of 11.14%.The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $1.88 EPS. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. Equities research analysts anticipate that 3M will post 8.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On 3M

Several large investors have recently bought and sold shares of MMM. SG Americas Securities LLC boosted its holdings in shares of 3M by 653.6% during the 1st quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate’s stock valued at $344,178,000 after acquiring an additional 2,055,419 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of 3M during the fourth quarter valued at approximately $65,009,000. Handelsbanken Fonder AB lifted its position in 3M by 1.5% during the fourth quarter. Handelsbanken Fonder AB now owns 271,777 shares of the conglomerate’s stock valued at $43,511,000 after purchasing an additional 4,101 shares during the period. Captrust Financial Advisors lifted its position in 3M by 2.9% during the fourth quarter. Captrust Financial Advisors now owns 156,676 shares of the conglomerate’s stock valued at $25,084,000 after purchasing an additional 4,372 shares during the period. Finally, Willis Investment Counsel boosted its holdings in 3M by 1.5% in the fourth quarter. Willis Investment Counsel now owns 136,141 shares of the conglomerate’s stock worth $21,796,000 after purchasing an additional 2,077 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

About 3M

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).