3M (NYSE:MMM) Shares Sold by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC decreased its stake in shares of 3M (NYSE:MMM) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,884 shares of the conglomerate’s stock after selling 404 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in 3M were worth $2,180,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MMM. FMR LLC increased its position in shares of 3M by 88.7% in the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after acquiring an additional 4,212,409 shares during the period. International Assets Investment Management LLC increased its holdings in shares of 3M by 11,601.2% in the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock valued at $172,416,000 after purchasing an additional 1,250,491 shares during the period. Electron Capital Partners LLC purchased a new position in shares of 3M in the second quarter worth about $76,732,000. Jennison Associates LLC purchased a new stake in 3M in the third quarter valued at approximately $82,208,000. Finally, Parsifal Capital Management LP increased its holdings in 3M by 179.0% in the 3rd quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate’s stock worth $112,107,000 after buying an additional 526,194 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on MMM shares. JPMorgan Chase & Co. lifted their price objective on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. Barclays lifted their price objective on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup upped their target price on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Mizuho lifted their price target on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

3M Stock Up 0.4 %

MMM opened at $149.64 on Friday. The company has a market cap of $81.49 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.42 and a beta of 0.95. 3M has a twelve month low of $75.40 and a twelve month high of $152.08. The company has a 50-day moving average price of $132.09 and a 200 day moving average price of $128.67. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5,770,390 billion. 3M had a return on equity of 97.19% and a net margin of 15.71%. The business’s revenue was down 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.42 earnings per share. Sell-side analysts expect that 3M will post 7.66 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 1.87%. 3M’s dividend payout ratio (DPR) is presently 37.09%.

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.