Traynor Capital Management Inc. Raises Position in 3M Company (MMM)

Usca Ria LLC increased its position in shares of 3M Company (NYSE:MMM) by 0.8% during the third quarter, Holdings Channel reports. The firm owned 12,584 shares of the conglomerate's stock after purchasing an additional 1,109 shares during the quarter. 3M comprises 1.2% of Traynor Capital Management Inc.'s portfolio, making the stock its 16th biggest holding. This is a boost from 3M Company's previous quarterly dividend of $1.11. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate's stock valued at $137,000 after purchasing an additional 4 shares in the last quarter. Aqr Capital Management Llc sold 44,433 shares as Deutsche Bank Ag (DB)'s stock rose 9.91%. BlackRock Fund Advisors now owns 8,265,834 shares of the company's stock worth $1,456,688,000 after buying an additional 261,278 shares during the period. Baystate Wealth Management LLC now owns 1,950 shares of the conglomerate's stock valued at $370,000 after acquiring an additional 11 shares during the period. Capital Management Corp VA boosted its holdings in 3M by 0.3% during the 1st quarter. BlackRock Institutional Trust Company N.A. now owns 16,477,856 shares of the company's stock worth $2,885,602,000 after buying an additional 527,158 shares during the period. Arvest Bank Trust Division boosted its holdings in 3M by 11.6% in the first quarter. Institutional investors and hedge funds own 65.65% of the company's stock. 1St Advsr reported 0.15% of its portfolio in 3M Co (NYSE:MMM). Jefferies Group LLC reissued a "buy" rating and issued a $200.00 price objective on shares of 3M Company in a research note on Wednesday, December 14th. Stifel Nicolaus maintained the shares of MMM in report on Wednesday, December 14 with "Hold" rating. Zacks Investment Research cut shares of 3M from a "buy" rating to a "hold" rating in a research report on Thursday, June 15th. Citigroup Inc. dropped their price objective on 3M from $230.00 to $228.00 and set a "buy" rating for the company in a report on Wednesday, July 26th. Bank of America Corporation reaffirmed a "buy" rating and set a $225.00 target price (up from $208.00) on shares of 3M in a research report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company's stock. The company has an average rating of "Hold" and a consensus price target of $206.68. The firm's 50 day moving average is $204.24 and its 200 day moving average is $200.33. The firm has a market cap of $106.81 billion, a P/E ratio of 21.94 and a beta of 1.04. 3M Company has a 52-week low of $163.85 and a 52-week high of $214.57.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, July 25th. 383.70 million shares or 2.52% more from 374.26 million shares in 2016Q3 were reported. 3M had a net margin of 17.65% and a return on equity of 47.83%. The business had revenue of $7.81 billion for the quarter, compared to the consensus estimate of $7.86 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. The company's revenue for the quarter was up 1.9% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 12th. Credit Suisse upgraded the shares of MMM in report on Friday, September 25 to "Outperform" rating.

Presently 3M Company (NYSE:MMM) stock have an ABR of 2.64. For the most recent quarter, quick ratio was 1.5, current ratio was 2.2, LT Debt/Equity ratio was 0.96 and Total Debt/Equity ratio stands at 0.97, while Payout ratio is 0.509.

TRADEMARK VIOLATION NOTICE: "Crescent Grove Advisors LLC Purchases Shares of 31,750 3M Company (NYSE:MMM)" was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of United States and global copyright law. The correct version of this piece of content can be read at https://stocknewstimes.com/2017/09/13/3m-company-mmm-shares-bought-by-traynor-capital-management-inc.html.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our daily email newsletter. McGrath Marlene Mary also sold $2.88M worth of 3M Co (NYSE:MMM) on Thursday, May 18. The stock was sold at an average price of $206.03, for a total transaction of $560,195.57. Following the sale, the insider now directly owns 9,010 shares in the company, valued at approximately $1,856,330.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Eric D. Hammes sold 1,428 shares of the firm's stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $176.85, for a total value of $8,405,326.80. Following the completion of the sale, the vice president now owns 3,066 shares in the company, valued at $633,619.56. The disclosure for this sale can be found here. The insider Bauman James L sold 14,616 shares worth $2.86 million.

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