JPMorgan Chase & Co. Issues Pessimistic Forecast for 3M (NYSE:MMM) Stock Price

Key Points

• JPMorgan cut its price target for 3M from $205 to $185 while maintaining an “overweight” rating, implying roughly 15% upside from the prior close.
• Analyst sentiment is mixed: the consensus rating is “Hold,” with seven Buy, seven Hold, and one Sell rating and an average price target of $181.71.
• 3M shares fell 1.9% to $160.51, despite the company reporting quarterly EPS of $2.40 versus the $2.25 consensus estimate and revenue of $6.50 billion, ahead of expectations.

3M (NYSE:MMM - Get Free Report) had its price objective dropped by analysts at JPMorgan Chase & Co. from $205.00 to $185.00 in a report released on Friday, Benzinga reports. The firm presently has an "overweight" rating on the conglomerate's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 15.26% from the stock's previous close.

MMM has been the topic of a number of other research reports. Mizuho lifted their price target on shares of 3M from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, July 23rd. UBS Group increased their target price on 3M from $190.00 to $218.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Wolfe Research reissued an "outperform" rating on shares of 3M in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of 3M from $192.00 to $194.00 and gave the company a "hold" rating in a report on Wednesday, September 30th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of 3M in a research report on Wednesday, July 22nd. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $181.71.

3M Stock Down 1.9%

3M stock traded down $3.07 during midday trading on Friday, reaching $160.51. The company's stock had a trading volume of 1,427,231 shares, compared to its average volume of 3,687,089. 3M has a 52-week low of $139.34 and a 52-week high of $184.90. The stock has a market capitalization of $82.78 billion, a P/E ratio of 28.55, a PEG ratio of 2.26 and a beta of 0.99. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.24 and a quick ratio of 0.91. The stock's 50-day simple moving average is $172.06 and its 200-day simple moving average is $160.65.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.15. The firm had revenue of $6.50 billion during the quarter, compared to analysts' expectations of $6.40 billion. 3M had a return on equity of 115.87% and a net margin of 11.90%.The company's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $2.16 earnings per share. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. On average, sell-side analysts expect that 3M will post 8.97 EPS for the current year.

Insiders Place Their Bets

In other 3M news, insider Karin Chavez sold 3,635 shares of the firm's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total value of $663,423.85. Following the sale, the insider directly owned 14,035 shares in the company, valued at $2,561,527.85. This trade represents a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MMM. Riversedge Advisors LLC acquired a new stake in shares of 3M during the 3rd quarter worth about $214,000. Wedmont Private Capital increased its stake in 3M by 52.9% in the third quarter. Wedmont Private Capital now owns 7,957 shares of the conglomerate's stock valued at $1,302,000 after purchasing an additional 2,754 shares during the last quarter. Central Bank & Trust Co. raised its holdings in 3M by 6.8% during the third quarter. Central Bank & Trust Co. now owns 1,718 shares of the conglomerate's stock worth $282,000 after purchasing an additional 110 shares in the last quarter. Diversified Management Inc. raised its holdings in 3M by 2.4% during the third quarter. Diversified Management Inc. now owns 3,713 shares of the conglomerate's stock worth $609,000 after purchasing an additional 86 shares in the last quarter. Finally, Midwest Financial Partners Investments Inc. boosted its holdings in shares of 3M by 12.9% in the 3rd quarter. Midwest Financial Partners Investments Inc. now owns 5,441 shares of the conglomerate's stock valued at $893,000 after buying an additional 622 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.

3M Company Profile

3M is a diversified technology and manufacturing company that develops products and solutions for industrial, workplace safety, transportation, electronics, consumer and other markets. Its portfolio includes adhesives, abrasives, tapes, films, filtration products, personal protective equipment, reflective materials and advanced materials used in manufacturing and commercial applications.

The company sells a broad range of well-known consumer and office products under brands such as Post-it and Scotch.

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