Institutional investors load up on 3M and UiPath stock

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.