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

Lockheed Martin Investment Management Co. lowered its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 32.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,670 shares of the semiconductor company’s stock after selling 22,820 shares during the quarter. Texas Instruments makes up 1.0% of Lockheed Martin Investment Management Co.’s holdings, making the stock its 19th largest position. Lockheed Martin Investment Management Co.’s holdings in Texas Instruments were worth $13,352,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Texas Instruments during the 2nd quarter worth approximately $24,607,313,000. Bank of New York Mellon Corp raised its position in Texas Instruments by 33.6% during the first quarter. Bank of New York Mellon Corp now owns 16,402,834 shares of the semiconductor company’s stock worth $3,184,446,000 after acquiring an additional 4,129,601 shares during the period. Bank of America Corp DE purchased a new position in Texas Instruments during the second quarter valued at $3,700,842,000. Van ECK Associates Corp lifted its holdings in Texas Instruments by 1.5% during the second quarter. Van ECK Associates Corp now owns 12,149,167 shares of the semiconductor company’s stock valued at $3,621,302,000 after purchasing an additional 177,511 shares in the last quarter. Finally, Amundi lifted its holdings in Texas Instruments by 9.0% during the first quarter. Amundi now owns 9,064,214 shares of the semiconductor company’s stock valued at $1,759,727,000 after purchasing an additional 752,139 shares in the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. The Goldman Sachs Group restated a “sell” rating and set a $250.00 price target on shares of Texas Instruments in a research report on Thursday, October 22nd. Cantor Fitzgerald reiterated a “neutral” rating on shares of Texas Instruments in a research note on Tuesday, October 20th. Zacks Research raised Texas Instruments from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 22nd. DZ Bank upgraded Texas Instruments from a “sell” rating to a “hold” rating and set a $300.00 target price on the stock in a research report on Wednesday, October 28th. Finally, Robert W. Baird lifted their price target on Texas Instruments from $300.00 to $385.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Texas Instruments currently has a consensus rating of “Moderate Buy” and a consensus price target of $315.37.

Insider Activity

In other news, Director Ronald Kirk sold 6,065 shares of the stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $310.39, for a total value of $1,882,515.35. Following the completion of the sale, the director owned 15,462 shares of the company’s stock, valued at $4,799,250.18. This represents a 28.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert E. Sanchez sold 6,065 shares of the firm’s stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $302.21, for a total transaction of $1,832,903.65. Following the sale, the director owned 21,600 shares of the company’s stock, valued at $6,527,736. This represents a 21.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 27,968 shares of company stock worth $8,236,892. Insiders own 0.60% of the company’s stock.

Texas Instruments Stock Performance

Shares of Texas Instruments stock opened at $295.73 on Tuesday. Texas Instruments Incorporated has a one year low of $152.73 and a one year high of $334.03. The company has a market cap of $270.23 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 1.54 and a beta of 1.39. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.05 and a current ratio of 5.59. The business’s 50 day moving average price is $279.80 and its 200 day moving average price is $261.92.

Texas Instruments (NASDAQ:TXN) last issued its earnings results on Wednesday, October 21st. The semiconductor company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.22. Texas Instruments had a return on equity of 40.51% and a net margin of 34.25%. The company had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the prior year, the business earned $1.48 EPS. The firm’s quarterly revenue was up 27.7% on a year-over-year basis. On average, research analysts predict that Texas Instruments Incorporated will post 8.97 EPS for the current year.

Texas Instruments Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Friday, October 30th will be given a dividend of $1.52 per share. This represents a $6.08 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, October 30th. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.42. Texas Instruments’s dividend payout ratio is presently 78.86%.

About Texas Instruments

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.