The following video is part of our "Motley Fool Conversations" series, in which industrials editor/analyst Brendan Byrnes discusses topics across the investing world.

In today's edition, Brendan outlines three reasons to sell 3M. While this is not a sell recommendation -- Brendan actually likes 3M as a long-term outperformer -- we think it's best for investors to look at both sides of the coin when evaluating companies. 3M has underperformed the Dow as a whole over the past 52 weeks by nearly 10%. As with all industrial conglomerates, 3M is a cyclical company with fairly heavy exposure to Europe -- about 30% of its revenue came from the Continent in 2011. Other possible warning signs include if the company were to lose its innovative spirit, or if it has trouble successfully integrating recent acquisitions.

3M is one of the longest-running dividend aristocrats, but its yield wasn't quite big enough to make it onto our list of favorite dividends. Our analysts have compiled their favorite high-yielders in one free report: "Secure Your Future With 9 Rock-Solid Dividend Stocks." You can access your copy today at no cost! Just click here to discover the winners we've picked.