Jefferies Financial Group Issues Positive Forecast for 3M (NYSE:MMM) Stock Price

3M (NYSE:MMM) had its price target raised by analysts at Jefferies Financial Group from $170.00 to $175.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage presently has a “hold” rating on the conglomerate’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 6.41% from the stock’s previous close.

Several other brokerages have also recently weighed in on MMM. Deutsche Bank Aktiengesellschaft dropped their price objective on 3M from $181.00 to $171.00 and set a “hold” rating for the company in a report on Wednesday, April 22nd. UBS Group reissued a “buy” rating on shares of 3M in a report on Friday, March 13th. Barclays decreased their price target on 3M from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Wolfe Research cut their price objective on shares of 3M from $205.00 to $186.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. Finally, Citigroup cut their price objective on shares of 3M from $175.00 to $166.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $170.00.

3M Stock Performance

Shares of NYSE:MMM opened at $164.46 on Monday. 3M has a 12-month low of $139.34 and a 12-month high of $177.41. The company’s 50 day moving average price is $152.38 and its two-hundred day moving average price is $156.54. The firm has a market cap of $85.78 billion, a PE ratio of 31.79, a PEG ratio of 2.32 and a beta of 1.03. The company has a quick ratio of 1.19, a current ratio of 1.59 and a debt-to-equity ratio of 3.29.

3M (NYSE:MMM) last released its quarterly earnings results 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 the consensus estimate of $6.04 billion. 3M had a net margin of 11.14% and a return on equity of 104.75%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.88 earnings per share. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. Equities research analysts predict that 3M will post 8.71 earnings per share for the current year.

Hedge Funds Weigh In On 3M

Several hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC grew its position in 3M by 26.6% in the fourth quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate’s stock valued at $1,149,000 after acquiring an additional 1,872 shares during the last quarter. Bison Wealth LLC lifted its holdings in shares of 3M by 10.2% in the fourth quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate’s stock worth $355,000 after acquiring an additional 255 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of 3M by 11.4% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,606 shares of the conglomerate’s stock valued at $3,289,000 after purchasing an additional 2,203 shares in the last quarter. WFA of San Diego LLC acquired a new stake in shares of 3M in the 2nd quarter valued at approximately $61,000. Finally, Morse Asset Management Inc grew its holdings in shares of 3M by 1.8% during the 2nd quarter. Morse Asset Management Inc now owns 10,301 shares of the conglomerate’s stock valued at $1,568,000 after purchasing an additional 185 shares during the last quarter. 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).