Lockheed Martin Investment Management Co. Grows Stock Position in Union Pacific Corporation $UNP

Key Points

• Lockheed Martin Investment Management increased its Union Pacific stake by 11.6% in the fourth quarter, ending with 60,730 shares valued at about $14.0 million.
• Several large institutional investors also boosted their positions, and hedge funds and other institutions now own 80.38% of Union Pacific’s stock.
• Union Pacific reported strong quarterly results, with EPS of $2.93 beating estimates and revenue of $6.22 billion topping forecasts; the company also announced a quarterly dividend of $1.38 per share.

Lockheed Martin Investment Management Co. lifted its stake in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 11.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,730 shares of the railroad operator's stock after purchasing an additional 6,320 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in Union Pacific were worth $14,048,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in Union Pacific by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 59,329,262 shares of the railroad operator's stock worth $13,724,045,000 after acquiring an additional 659,378 shares in the last quarter. Capital World Investors raised its position in Union Pacific by 193.3% in the third quarter. Capital World Investors now owns 10,481,043 shares of the railroad operator's stock worth $2,477,404,000 after acquiring an additional 6,908,016 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Union Pacific by 72.7% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,177,002 shares of the railroad operator's stock worth $2,169,168,000 after acquiring an additional 3,861,636 shares in the last quarter. Capital Research Global Investors raised its position in Union Pacific by 95.0% in the third quarter. Capital Research Global Investors now owns 8,713,196 shares of the railroad operator's stock worth $2,059,538,000 after acquiring an additional 4,244,226 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Union Pacific by 18.9% in the third quarter. Franklin Resources Inc. now owns 7,164,334 shares of the railroad operator's stock worth $1,693,434,000 after acquiring an additional 1,139,926 shares in the last quarter. Hedge funds and other institutional investors own 80.38% of the company's stock.

Analyst Upgrades and Downgrades

UNP has been the subject of several research analyst reports. Wells Fargo & Company reiterated an "overweight" rating and issued a $300.00 price objective (up from $260.00) on shares of Union Pacific in a research report on Friday, April 24th. Evercore reiterated an "outperform" rating and issued a $277.00 price objective on shares of Union Pacific in a research report on Friday, April 24th. Susquehanna reiterated a "buy" rating on shares of Union Pacific in a research report on Monday, January 19th. Citigroup reiterated a "buy" rating and issued a $307.00 price objective (up from $285.00) on shares of Union Pacific in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. raised their price target on Union Pacific from $267.00 to $275.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $280.47.

Insider Activity

In related news, EVP Eric J. Gehringer sold 1,999 shares of Union Pacific stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $234.93, for a total transaction of $469,625.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kenyatta G. Rocker sold 27,387 shares of Union Pacific stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $271.76, for a total value of $7,442,691.12. Following the sale, the executive vice president owned 61,102 shares of the company's stock, valued at approximately $16,605,079.52. This represents a 30.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 31,386 shares of company stock worth $8,461,716 over the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Union Pacific Trading Up 0.5%

Shares of UNP stock opened at $270.58 on Friday. Union Pacific Corporation has a fifty-two week low of $210.84 and a fifty-two week high of $274.79. The stock has a market cap of $160.65 billion, a P/E ratio of 22.29, a P/E/G ratio of 2.86 and a beta of 0.99. The business has a fifty day simple moving average of $252.29 and a 200-day simple moving average of $242.06. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.53.

Union Pacific (NYSE:UNP - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The railroad operator reported $2.93 earnings per share for the quarter, beating analysts' consensus estimates of $2.86 by $0.07. Union Pacific had a return on equity of 39.58% and a net margin of 29.20%.The business had revenue of $6.22 billion during the quarter, compared to analysts' expectations of $6.12 billion. During the same quarter last year, the business posted $2.70 earnings per share. The business's revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts forecast that Union Pacific Corporation will post 12.53 earnings per share for the current fiscal year.

Union Pacific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be given a $1.38 dividend. The ex-dividend date is Friday, May 29th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.0%. Union Pacific's dividend payout ratio (DPR) is currently 45.47%.

About Union Pacific

Union Pacific Corporation NYSE: UNP is one of the largest freight railroad companies in the United States. Its principal operating subsidiary, Union Pacific Railroad, has roots that trace back to the Pacific Railway Act of 1862 and the construction of the first transcontinental rail link completed in 1869. The company is headquartered in Omaha, Nebraska, and operates as a holding company for rail transportation and related services.

Union Pacific's core business is the movement of freight by rail across an extensive rail network serving the western two‑thirds of the United States.

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