3M (NYSE:MMM) Upgraded to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of 3M (NYSE:MMM) from a neutral rating to an overweight rating in a research report report published on Friday, MarketBeat.com reports. JPMorgan Chase & Co. currently has $180.00 target price on the conglomerate’s stock, up from their previous target price of $178.00.

A number of other equities analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of 3M from $181.00 to $171.00 and set a “hold” rating on the stock in a research report on Wednesday, April 22nd. Jefferies Financial Group increased their price target on shares of 3M from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Monday, June 29th. Weiss Ratings downgraded shares of 3M from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 1st. Sanford C. Bernstein started coverage on 3M in a report on Tuesday, June 9th. They set an “underperform” rating and a $131.00 price target on the stock. Finally, Wells Fargo & Company boosted their price target on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, 3M has an average rating of “Hold” and a consensus price target of $169.43.

3M Price Performance

Shares of MMM opened at $159.81 on Friday. 3M has a 1-year low of $139.34 and a 1-year high of $177.41. The stock has a market cap of $83.35 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 2.28 and a beta of 1.02. The company has a debt-to-equity ratio of 3.29, a current ratio of 1.59 and a quick ratio of 1.19. The firm has a fifty day moving average price of $156.11 and a 200 day moving average price of $156.14.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.16. The company had revenue of $6 billion for 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 business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.88 earnings per share. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. As a group, sell-side analysts anticipate that 3M will post 8.74 EPS for the current year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 22nd were given a dividend of $0.78 per share. The ex-dividend date was Friday, May 22nd. This represents a $3.12 annualized dividend and a yield of 2.0%. 3M’s dividend payout ratio is 60.12%.

Institutional Trading of 3M

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MMM. American Trust lifted its position in shares of 3M by 3.4% during the 4th quarter. American Trust now owns 1,803 shares of the conglomerate’s stock valued at $289,000 after acquiring an additional 60 shares during the period. Walter & Keenan Wealth Management LLC IN ADV increased its stake in 3M by 1.0% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 6,045 shares of the conglomerate’s stock valued at $938,000 after purchasing an additional 61 shares in the last quarter. Cornerstone Planning Group LLC increased its stake in 3M by 32.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 71 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in 3M by 4.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 1,802 shares of the conglomerate’s stock worth $288,000 after purchasing an additional 72 shares during the last quarter. Finally, Morse Asset Management Inc boosted its position in 3M by 0.7% during the fourth quarter. Morse Asset Management Inc now owns 10,713 shares of the conglomerate’s stock worth $1,715,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

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).