3M (MMM) Teams with Safran for Aircraft Interior Solution

Zacks Equity Research
·3-min read

3M Company MMM recently announced its partnership with Safran Cabin, a leading provider of jet cabin interiors. The collaboration will involve both the companies to leverage their strong research expertise to come up with a cleaner aircraft cabin interior solution for safe and comfortable travel experience.

Notably, 3M’s shares moved up 0.7% to eventually close at $174.14, yesterday.

Inside the Headlines

3M’s advanced technology solutions will help Safran Cabin boost aircraft cabin equipment’s cleaning and protection features. This will likely enhance the aircraft passengers’ safety by facilitating the process of removing harmful bacteria and viruses from aircraft cabin, including SARS-CoV-2 that causes COVID-19.

As noted, these solutions can either be applied during manufacturing the aircraft interior surfaces or in the course of upgrading the existing ones. These new aerospace materials from the collaboration will likely be launched into the market in 2021.

Earnings Projections and Price Performance of 3M

3M, with approximately $99.7 billion market capitalization, currently carries a Zacks Rank #2 (Buy). In the quarters ahead, the company is poised to gain from its solid product portfolio, restructuring actions, inorganic actions and shareholder-friendly policies. Also, the company’s cost-reduction actions will prove beneficial.

In the past 30 days, the Zacks Consensus Estimate for earnings moved up 2.4% to $8.57 for 2020 and 3% to $9.36 for 2021. Also, earnings estimates for the fourth quarter have increased 0.4% to $2.26 per share.

In the past six months, the stock has gained 21% compared with the industry’s increase of 39.6%.

Other Stocks to Consider

Some other top-ranked stocks from the same space are Crane Company CR, ITT Inc. ITT and Danaher Corp. DHR, each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Crane has a trailing-four quarter earnings surprise of 14.59%, on average.

ITT has a trailing four-quarter earnings surprise of 22.39%, on average.

Danaher has a trailing four-quarter earnings surprise of 17.00%, on average.

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.

See 8 breakthrough stocks now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
3M Company (MMM) : Free Stock Analysis Report
 
ITT Inc. (ITT) : Free Stock Analysis Report
 
Danaher Corporation (DHR) : Free Stock Analysis Report
 
Crane Co. (CR) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research