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Financial institution of America Trims 3M (NYSE:MMM) Goal Worth to $140.00

ByEditorialTeam

Sep 2, 2022

3M (NYSE:MMMGet Ranking) had its value goal lowered by funding analysts at Financial institution of America from $165.00 to $140.00 in a notice issued to buyers on Friday, The Fly reviews. Financial institution of America‘s value goal would point out a possible upside of 11.12% from the corporate’s earlier shut.

MMM has been the subject of a number of different reviews. Jefferies Monetary Group decreased their value goal on shares of 3M from $161.00 to $145.00 in a analysis notice on Thursday, June sixteenth. Morgan Stanley lifted their goal value on 3M from $126.00 to $131.00 and gave the corporate an “underweight” score in a analysis notice on Wednesday, July twenty seventh. Sanford C. Bernstein reaffirmed a “mkt carry out” score and set a $155.00 value goal on shares of 3M in a analysis notice on Wednesday, August seventeenth. Credit score Suisse Group boosted their value goal on 3M from $157.00 to $160.00 and gave the inventory a “impartial” score in a report on Wednesday, July twenty seventh. Lastly, TheStreet lowered shares of 3M from a “b-” score to a “c+” score in a analysis notice on Wednesday, June twenty ninth. 4 funding analysts have rated the inventory with a promote score, 9 have issued a maintain score and one has given a purchase score to the corporate’s inventory. Primarily based on knowledge from MarketBeat, the corporate presently has a consensus score of “Maintain” and a mean value goal of $149.71.

3M Buying and selling Up 0.3 %

Shares of 3M inventory opened at $125.99 on Friday. The inventory has a market capitalization of $71.76 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 1.28 and a beta of 0.97. 3M has a 12-month low of $123.03 and a 12-month excessive of $195.61. The corporate has a fast ratio of 0.90, a present ratio of 1.47 and a debt-to-equity ratio of 1.01. The corporate has a 50-day easy shifting common of $137.03 and a 200 day easy shifting common of $143.30.

3M (NYSE:MMMGet Ranking) final posted its earnings outcomes on Tuesday, July twenty sixth. The conglomerate reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.01. The corporate had income of $8.70 billion in the course of the quarter, in comparison with analysts’ expectations of $8.70 billion. 3M had a web margin of 11.83% and a return on fairness of 39.11%. 3M’s quarterly income was down 2.2% in comparison with the identical quarter final 12 months. Throughout the identical quarter within the earlier 12 months, the corporate posted $2.59 earnings per share. Analysis analysts count on that 3M will submit 10.4 earnings per share for the present fiscal 12 months.

Insider Transactions at 3M

In different 3M information, CAO Theresa E. Reinseth offered 795 shares of the enterprise’s inventory in a transaction dated Monday, August 1st. The shares had been offered at a mean value of $143.32, for a complete worth of $113,939.40. Following the completion of the sale, the chief accounting officer now owns 1,603 shares of the corporate’s inventory, valued at roughly $229,741.96. The transaction was disclosed in a authorized submitting with the Securities & Change Fee, which is accessible by the SEC web site. In associated information, CAO Theresa E. Reinseth offered 795 shares of 3M inventory in a transaction that occurred on Monday, August 1st. The inventory was offered at a mean value of $143.32, for a complete worth of $113,939.40. Following the transaction, the chief accounting officer now immediately owns 1,603 shares of the corporate’s inventory, valued at $229,741.96. The transaction was disclosed in a authorized submitting with the SEC, which is accessible by this hyperlink. Additionally, EVP Zoe L. Dickson offered 2,265 shares of the inventory in a transaction that occurred on Thursday, August 4th. The shares had been offered at a mean value of $144.40, for a complete transaction of $327,066.00. Following the sale, the manager vp now immediately owns 893 shares of the corporate’s inventory, valued at roughly $128,949.20. The disclosure for this sale will be discovered right here. Insiders offered a complete of 46,121 shares of firm inventory value $6,644,865 during the last quarter. Firm insiders personal 0.39% of the corporate’s inventory.

Institutional Traders Weigh In On 3M

Quite a few institutional buyers and hedge funds have lately purchased and offered shares of MMM. Inventory Yards Financial institution & Belief Co. elevated its place in shares of 3M by 134.8% in the course of the second quarter. Inventory Yards Financial institution & Belief Co. now owns 39,585 shares of the conglomerate’s inventory valued at $5,122,000 after shopping for a further 22,727 shares in the course of the interval. Authorized & Normal Group Plc raised its stake in shares of 3M by 3.5% in the course of the second quarter. Authorized & Normal Group Plc now owns 4,557,863 shares of the conglomerate’s inventory value $589,837,000 after buying a further 155,110 shares within the final quarter. ExodusPoint Capital Administration LP lifted its holdings in shares of 3M by 380.5% within the 2nd quarter. ExodusPoint Capital Administration LP now owns 37,716 shares of the conglomerate’s inventory value $4,881,000 after buying a further 29,867 shares over the past quarter. Eagle Bay Advisors LLC lifted its place in 3M by 2.8% within the second quarter. Eagle Bay Advisors LLC now owns 3,152 shares of the conglomerate’s inventory valued at $408,000 after buying a further 87 shares over the past quarter. Lastly, Verity & Verity LLC elevated its holdings in 3M by 4.7% in the course of the 2nd quarter. Verity & Verity LLC now owns 55,541 shares of the conglomerate’s inventory valued at $7,188,000 after buying a further 2,512 shares in the course of the interval. 64.90% of the inventory is owned by hedge funds and different institutional buyers.

3M Firm Profile

(Get Ranking)

3M Firm operates as a diversified know-how firm worldwide. It operates by 4 segments: Security and Industrial; Transportation and Electronics; Well being Care; and Client. The Security and Industrial section provides industrial abrasives and ending for metalworking purposes; autobody restore options; closure programs for private hygiene merchandise, masking, and packaging supplies; electrical merchandise and supplies for development and upkeep, energy distribution, and electrical authentic tools producers; structural adhesives and tapes; respiratory, listening to, eye, and fall safety options; and pure and color-coated mineral granules for shingles.

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Analyst Recommendations for 3M (NYSE:MMM)

This instantaneous information alert was generated by narrative science know-how and monetary knowledge from MarketBeat with the intention to present readers with the quickest and most correct reporting. This story was reviewed by MarketBeat’s editorial staff previous to publication. Please ship any questions or feedback about this story to [email protected]

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