Aaron Wealth Advisors LLC Has $366,000 Stake in 3M (NYSE:MMM)

Aaron Wealth Advisors LLC increased its position in 3M (NYSE:MMM) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,835 shares of the conglomerate’s stock after buying an additional 286 shares during the period. Aaron Wealth Advisors LLC’s holdings in 3M were worth $366,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MMM. State Street Corp raised its holdings in shares of 3M by 1.1% during the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock valued at $3,717,503,000 after purchasing an additional 302,900 shares in the last quarter. FMR LLC raised its holdings in 3M by 88.7% during the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after buying an additional 4,212,409 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 3M by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock worth $521,596,000 after buying an additional 43,942 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of 3M by 18.6% during the 2nd quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate’s stock worth $258,686,000 after acquiring an additional 396,773 shares in the last quarter. Finally, National Pension Service raised its stake in shares of 3M by 14.5% in the 3rd quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock valued at $173,336,000 after acquiring an additional 161,036 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. 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, October 17th. Wells Fargo & Company lifted their target price on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research report on Saturday. JPMorgan Chase & Co. cut their price objective on 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Finally, UBS Group raised 3M from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, 3M has an average rating of “Moderate Buy” and an average price target of $144.13.

3M Stock Up 1.3 %

NYSE MMM opened at $141.02 on Tuesday. 3M has a 1-year low of $75.40 and a 1-year high of $141.66. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The stock’s 50 day moving average is $131.24 and its two-hundred day moving average is $127.93. The company has a market capitalization of $76.80 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.01 and a beta of 0.95.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. The firm had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business’s revenue was down 24.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.68 earnings per share. Equities analysts forecast that 3M will post 7.27 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio (DPR) is currently 35.35%.

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.