Quintet Private Bank Europe S.A. Sells 3,623 Shares of 3M (NYSE:MMM)

Quintet Private Bank Europe S.A. lessened its position in shares of 3M (NYSE:MMM - Free Report) by 34.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,777 shares of the conglomerate's stock after selling 3,623 shares during the period. Quintet Private Bank Europe S.A.'s holdings in 3M were worth $995,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Geode Capital Management LLC increased its position in 3M by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 11,574,414 shares of the conglomerate's stock worth $1,493,655,000 after purchasing an additional 280,048 shares in the last quarter. Northern Trust Corp raised its position in 3M by 12.6% during the 4th quarter. Northern Trust Corp now owns 6,752,944 shares of the conglomerate's stock worth $871,738,000 after purchasing an additional 755,155 shares during the last quarter. Capital World Investors lifted its holdings in 3M by 25.4% during the 4th quarter. Capital World Investors now owns 6,153,924 shares of the conglomerate's stock worth $794,410,000 after buying an additional 1,248,093 shares during the period. Bank of New York Mellon Corp grew its position in shares of 3M by 9.2% in the 4th quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate's stock valued at $734,456,000 after buying an additional 479,621 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of 3M in the 4th quarter worth approximately $636,767,000. Institutional investors and hedge funds own 65.25% of the company's stock.

Insider Activity at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $149.02, for a total value of $1,179,493.30. Following the completion of the sale, the executive vice president now directly owns 6,127 shares of the company's stock, valued at $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP John Patrick Banovetz sold 7,759 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $148.37, for a total value of $1,151,202.83. Following the completion of the sale, the executive vice president now owns 31,372 shares in the company, valued at approximately $4,654,663.64. The trade was a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MMM has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, May 30th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research report on Wednesday, June 11th. Barclays lifted their target price on 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Royal Bank of Canada increased their price target on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. Finally, Bank of America raised their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.83.

3M Stock Up 1.9%

MMM traded up $2.72 during midday trading on Monday, reaching $145.04. 1,663,281 shares of the company were exchanged, compared to its average volume of 3,839,803. The company has a market cap of $78.06 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 3.30 and a beta of 1.03. 3M has a one year low of $98.26 and a one year high of $156.35. The company's fifty day moving average price is $142.25 and its 200 day moving average price is $141.90. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating 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 business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. As a group, analysts expect that 3M will post 7.8 EPS for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 2.01%. 3M's dividend payout ratio is presently 36.87%.

3M 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.