Lockheed Martin Investment Management Co. Sells 22,820 Shares of Texas Instruments Incorporated $TXN

Key Points

• Lockheed Martin Investment Management cut its Texas Instruments stake by 32.4%, selling 22,820 shares in the third quarter and retaining 47,670 shares valued at $13.35 million. Institutional investors overall own about 85% of TXN.
• Texas Instruments beat quarterly earnings expectations, reporting EPS of $2.62 versus $2.40 forecast and revenue of $6.05 billion, up 27.7% year over year. The company also raised its quarterly dividend from $1.42 to $1.52 per share.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $315.37. Company insiders sold 27,968 shares worth about $8.24 million during the latest quarter.

Lockheed Martin Investment Management Co. reduced its stake in Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 32.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,670 shares of the semiconductor company's stock after selling 22,820 shares during the quarter. Texas Instruments makes up approximately 1.0% of Lockheed Martin Investment Management Co.'s investment portfolio, making the stock its 19th biggest position. Lockheed Martin Investment Management Co.'s holdings in Texas Instruments were worth $13,352,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Kraft Davis & Associates LLC increased its stake in shares of Texas Instruments by 4.4% in the third quarter. Kraft Davis & Associates LLC now owns 827 shares of the semiconductor company's stock worth $230,000 after purchasing an additional 35 shares in the last quarter. May Hill Capital LLC boosted its holdings in Texas Instruments by 3.7% in the 3rd quarter. May Hill Capital LLC now owns 990 shares of the semiconductor company's stock worth $277,000 after buying an additional 35 shares during the period. Aviance Capital Partners LLC increased its stake in Texas Instruments by 1.0% in the 3rd quarter. Aviance Capital Partners LLC now owns 3,754 shares of the semiconductor company's stock worth $1,052,000 after buying an additional 36 shares in the last quarter. International Assets Investment Management LLC increased its stake in Texas Instruments by 1.2% in the 3rd quarter. International Assets Investment Management LLC now owns 2,947 shares of the semiconductor company's stock worth $829,000 after buying an additional 36 shares in the last quarter. Finally, HBW Advisory Services LLC increased its stake in Texas Instruments by 2.2% in the 1st quarter. HBW Advisory Services LLC now owns 1,730 shares of the semiconductor company's stock worth $336,000 after buying an additional 37 shares in the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on TXN. Sanford C. Bernstein boosted their price objective on Texas Instruments from $250.00 to $290.00 and gave the company a "market perform" rating in a research report on Thursday, July 23rd. Wells Fargo & Company dropped their price objective on Texas Instruments from $310.00 to $300.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 20th. Weiss Ratings upgraded Texas Instruments from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, November 4th. Wall Street Zen raised Texas Instruments from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. Finally, TD Cowen lowered their price target on Texas Instruments from $340.00 to $330.00 and set a "buy" rating on the stock in a report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $315.37.

Insider Transactions at Texas Instruments

In other news, Director Robert Sanchez sold 6,065 shares of the company's stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $302.21, for a total value of $1,832,903.65. Following the transaction, the director directly owned 21,600 shares in the company, valued at approximately $6,527,736. This represents a 21.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronald Kirk sold 6,065 shares of the firm's stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $310.39, for a total transaction of $1,882,515.35. Following the transaction, the director directly owned 15,462 shares in the company, valued at approximately $4,799,250.18. This trade represents a 28.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 27,968 shares of company stock valued at $8,236,892. Company insiders own 0.60% of the company's stock.

Texas Instruments Price Performance

TXN stock opened at $295.73 on Tuesday. Texas Instruments Incorporated has a 52 week low of $152.73 and a 52 week high of $334.03. The firm has a market capitalization of $270.23 billion, a P/E ratio of 38.36, a price-to-earnings-growth ratio of 1.54 and a beta of 1.39. The company has a fifty day simple moving average of $279.80 and a two-hundred day simple moving average of $261.92. The company has a quick ratio of 4.05, a current ratio of 5.59 and a debt-to-equity ratio of 0.67.

Texas Instruments (NASDAQ:TXN - Get Free Report) last announced its earnings results on Wednesday, October 21st. The semiconductor company reported $2.62 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.22. The firm had revenue of $6.05 billion during the quarter, compared to analysts' expectations of $5.94 billion. Texas Instruments had a return on equity of 40.51% and a net margin of 34.25%. The company's quarterly revenue was up 27.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.48 EPS. Analysts anticipate that Texas Instruments Incorporated will post 8.97 earnings per share for the current fiscal year.

Texas Instruments Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Friday, October 30th will be issued a dividend of $1.52 per share. This represents a $6.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, October 30th. This is an increase from Texas Instruments's previous quarterly dividend of $1.42. Texas Instruments's dividend payout ratio (DPR) is presently 78.86%.

Texas Instruments Profile

Texas Instruments Incorporated NASDAQ: TXN designs and manufactures analog and embedded semiconductor products used in industrial, automotive, personal electronics, communications equipment, and enterprise systems. Its analog products help manage power, sense and measure real-world signals, and support signal processing, while its embedded processing products provide computing and control functions within electronic systems.

The company offers a broad portfolio of semiconductors, including power-management devices, amplifiers, data converters, microcontrollers, processors, and connectivity products.

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