Fintel reports that on January 22, 2025, Wells Fargo upgraded their outlook for 3M (NYSE:MMM) from Equal-Weight to Overweight.
Analyst Price Forecast Suggests 2.91% Upside
As of December 23, 2024, the average one-year price target for 3M is $151.17/share. The forecasts range from a low of $101.00 to a high of $193.20. The average price target represents an increase of 2.91% from its latest reported closing price of $146.89 / share.
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The projected annual revenue for 3M is 35,183MM, an increase of 43.17%. The projected annual non-GAAP EPS is 11.49.
What is the Fund Sentiment?
There are 2,942 funds or institutions reporting positions in 3M. This is an increase of 135 owner(s) or 4.81% in the last quarter. Average portfolio weight of all funds dedicated to MMM is 0.31%, an increase of 6.87%. Total shares owned by institutions increased in the last three months by 6.02% to 417,105K shares. 
The put/call ratio of MMM is 0.60, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 17,413K shares representing 3.20% ownership of the company. In its prior filing, the firm reported owning 17,506K shares , representing a decrease of 0.53%. The firm increased its portfolio allocation in MMM by 24.98% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 14,388K shares representing 2.64% ownership of the company. In its prior filing, the firm reported owning 14,203K shares , representing an increase of 1.28%. The firm increased its portfolio allocation in MMM by 24.71% over the last quarter.
Jpmorgan Chase holds 12,556K shares representing 2.31% ownership of the company. In its prior filing, the firm reported owning 1,663K shares , representing an increase of 86.76%. The firm increased its portfolio allocation in MMM by 10,426.24% over the last quarter.
Geode Capital Management holds 11,294K shares representing 2.07% ownership of the company. In its prior filing, the firm reported owning 11,288K shares , representing an increase of 0.06%. The firm decreased its portfolio allocation in MMM by 35.25% over the last quarter.
State Farm Mutual Automobile Insurance holds 8,178K shares representing 1.50% ownership of the company. In its prior filing, the firm reported owning 8,277K shares , representing a decrease of 1.21%. The firm decreased its portfolio allocation in MMM by 18.45% over the last quarter.
3M Background Information
(This description is provided by the company.)
3M Company is a diversified corporation manufacturing a wide range of products, including abrasives, adhesive tape and related products, and consumer-electronics components. It is headquartered in St. Paul, Minnesota. 3M apply science in collaborative ways to improve lives daily. With $32 billion in sales, 96,000 employees connect with customers all around the world.
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