3M Co. (NYSE:MMM) insider James L. Bauman sold 9,066 shares of 3M stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $178.42, for a total value of $1,617,555.72. Following the completion of the transaction, the insider now owns 10,834 shares in the company, valued at approximately $1,933,002.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several equities analysts have issued reports on MMM shares. Jefferies Group lifted their target price on 3M from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 19th. Credit Suisse Group AG restated a “buy” rating on shares of 3M in a research note on Sunday, July 10th. Citigroup Inc. reissued a “buy” rating and issued a $191.00 price target (up from $168.00) on shares of 3M in a report on Tuesday, April 19th. Zacks Investment Research downgraded 3M from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of 3M in a research note on Monday, June 27th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $163.32.
Source: American Banking and Market News