Institutional investors load up on 3M and UiPath stock

2024-04-15 16:42:52 ET

Institutional investors loaded up on shares of 3M Co (NYSE: MMM) and UiPath Inc (NYSE: PATH) in the fourth quarter. Shares of both are still down for the year at writing.

Ingalls & Snyder bought 3M stock in Q4

Ingalls & Snyder LLC bought another 177 shares of $MMM in Q4 that increased its stake in the multinational conglomerate by about 7.7%.

The institutional investor now owns a total of 2,490 shares of 3M.

Update from Ingalls & Snyder arrives a couple weeks after Solventum – a healthcare spinoff of the manufacturing giant started trading on the New York Stock Exchange as Invezz reported here .

3M stock hasn’t performed all that well over the past twelve months but it does pay a rather lucrative dividend yield of 6.62% at writing.

Bleakley Financial bought UiPath stock in Q4

Also on Monday, Bleakley Financial Group LLC said it bought 598 shares of UiPath in the fourth quarter.

The institutional investor now owns a total of 12,691 shares of $PATH that pegs its stake in the robotic process automation software company at about 4.9%.

Last week, analysts at KeyBanc Capital initiated UiPath stock with an “overweight” rating. Their $27 price objective suggests a whopping 35% upside as the New York listed firm continues to tap on artificial intelligence and expand its product portfolio.

KeyBanc drove optimism from a surprise profit that $PATH reported for its fourth financial quarter in March. UiPath shares are currently down more than 25% versus their year-to-date high.

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