3M (NYSE:MMM) Shares Bought by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC lifted its holdings in shares of 3M (NYSE:MMM) by 9.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,549 shares of the conglomerate’s stock after acquiring an additional 226 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in 3M were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Ausdal Financial Partners Inc. boosted its position in shares of 3M by 6.7% in the second quarter. Ausdal Financial Partners Inc. now owns 3,991 shares of the conglomerate’s stock worth $408,000 after buying an additional 249 shares during the period. Candriam S.C.A. boosted its holdings in 3M by 19.2% in the 2nd quarter. Candriam S.C.A. now owns 38,469 shares of the conglomerate’s stock worth $3,931,000 after acquiring an additional 6,185 shares during the period. Stonegate Investment Group LLC grew its position in 3M by 5.6% in the third quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock valued at $34,564,000 after acquiring an additional 13,473 shares in the last quarter. True Vision MN LLC purchased a new stake in shares of 3M during the second quarter valued at approximately $512,000. Finally, Clifford Capital Partners LLC lifted its position in shares of 3M by 21.3% during the second quarter. Clifford Capital Partners LLC now owns 171,152 shares of the conglomerate’s stock worth $17,490,000 after purchasing an additional 30,009 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MMM shares. Morgan Stanley assumed coverage on shares of 3M in a report on Friday, September 6th. They set an “underweight” rating and a $125.00 price target for the company. Royal Bank of Canada lifted their target price on 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a research report on Monday, July 29th. Mizuho increased their price target on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday. Wells Fargo & Company raised their price objective on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and upped their target price for the company from $110.00 to $150.00 in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, 3M has an average rating of “Hold” and an average price target of $130.57.

3M Stock Performance

3M stock opened at $135.14 on Friday. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. 3M has a 12 month low of $71.12 and a 12 month high of $140.72. The company has a fifty day moving average price of $132.67 and a two-hundred day moving average price of $112.73. The company has a market cap of $74.78 billion, a PE ratio of -10.62, a P/E/G ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last posted its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, beating the consensus estimate of $1.68 by $0.25. The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same period in the previous year, the business posted $2.17 EPS. Research analysts expect that 3M will post 7.24 earnings per share for the current year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s payout ratio is -22.01%.

Insider Activity at 3M

In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

About 3M

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.