3M (NYSE:MMM) Given New $132.00 Price Target at Royal Bank Of Canada

3M (NYSE:MMM) had its target price upped by Royal Bank Of Canada from $123.00 to $132.00 in a research note published on Wednesday morning, Marketbeat reports. The firm currently has an underperform rating on the conglomerate’s stock.

Several other research analysts have also weighed in on the company. Wolfe Research reaffirmed an “outperform” rating on shares of 3M in a research report on Thursday, July 9th. 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 for the company. 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 note on Wednesday, April 22nd. Jefferies Financial Group increased their price objective on 3M from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Monday, June 29th. Finally, JPMorgan Chase & Co. raised shares of 3M from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $178.00 to $180.00 in a research report on Friday, July 17th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $175.79.

3M Trading Down 0.0%

Shares of NYSE:MMM opened at $170.72 on Wednesday. The firm has a fifty day moving average of $157.47 and a two-hundred day moving average of $156.25. The company has a quick ratio of 1.19, a current ratio of 1.24 and a debt-to-equity ratio of 3.63. 3M has a 12-month low of $139.34 and a 12-month high of $177.41. The firm has a market capitalization of $89.04 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 2.37 and a beta of 1.02.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.15. 3M had a net margin of 11.90% and a return on equity of 115.87%. The business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the prior year, the business posted $2.16 earnings per share. 3M’s revenue for the quarter was up 2.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. On average, equities analysts expect that 3M will post 8.88 EPS for the current fiscal year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 22nd were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, May 22nd. 3M’s dividend payout ratio (DPR) is 55.42%.

Institutional Trading of 3M

A number of institutional investors and hedge funds have recently made changes to their positions in MMM. SG Americas Securities LLC raised its position in shares of 3M by 653.6% in the first quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate’s stock valued at $344,178,000 after purchasing an additional 2,055,419 shares during the period. PFA Pension Forsikringsaktieselskab bought a new stake in shares of 3M during the 4th quarter worth $65,009,000. Entropy Technologies LP acquired a new position in 3M in the 1st quarter valued at $10,945,000. Align Financial LLC bought a new position in 3M in the 4th quarter worth $4,101,000. Finally, Allstate Corp raised its holdings in 3M by 107.1% in the 4th quarter. Allstate Corp now owns 41,212 shares of the conglomerate’s stock worth $6,598,000 after acquiring an additional 21,316 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Key Stories Impacting 3M

Here are the key news stories impacting 3M this week:

• Positive Sentiment: 3M beat Wall Street’s Q2 expectations, posting adjusted EPS of $2.40 versus estimates around $2.24-$2.25 and revenue of $6.5 billion versus about $6.4 billion expected, signaling stronger-than-expected demand and execution. Article Title
• Positive Sentiment: The company raised 2026 guidance, increasing adjusted EPS outlook to $8.80-$8.95 from $8.50-$8.70, which suggests management is seeing continued momentum and better profitability ahead. Article Title
• Positive Sentiment: Management pointed to stronger pricing, cost reductions, and resilient demand in Safety & Industrial and Transportation & Electronics, supporting the view that margins and cash flow are improving. Article Title
• Neutral Sentiment: Analysts have started adjusting forecasts higher after the results, but views remain mixed, so the earnings beat is helping sentiment even as some firms keep cautious ratings. Article Title
• Negative Sentiment: Royal Bank of Canada lifted its price target but kept an underperform rating, reflecting concern that the stock may already be pricing in much of the recovery. Article Title

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).