Deutsche Bank AG Has $202.21 Million Stock Holdings in 3M (NYSE:MMM)

Deutsche Bank AG lowered its stake in shares of 3M (NYSE:MMM - Free Report) by 13.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,566,445 shares of the conglomerate's stock after selling 248,640 shares during the quarter. Deutsche Bank AG owned approximately 0.29% of 3M worth $202,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Financial Life Planners acquired a new position in shares of 3M during the 4th quarter worth $25,000. Proficio Capital Partners LLC acquired a new stake in 3M in the 4th quarter valued at about $26,000. Hazlett Burt & Watson Inc. acquired a new stake in 3M in the 4th quarter valued at about $27,000. Daymark Wealth Partners LLC grew its stake in 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock valued at $31,000 after acquiring an additional 19,552 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its stake in 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after acquiring an additional 214 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Stock Performance

MMM traded up $7.77 on Monday, hitting $150.37. The company had a trading volume of 4,974,820 shares, compared to its average volume of 4,031,650. 3M has a 1-year low of $96.76 and a 1-year high of $156.35. The stock has a market cap of $80.93 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The company's fifty day moving average price is $141.36 and its 200 day moving average price is $138.88. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. Equities analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MMM. Royal Bank of Canada increased their price objective on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a report on Saturday. Barclays upped their target price on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Finally, Citigroup reduced their target price on shares of 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, 3M currently has a consensus rating of "Moderate Buy" and a consensus target price of $149.29.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company's Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.