Westinghouse Air Brake Technologies (NYSE:WAB) Reaches New 1-Year High Following Analyst Upgrade

Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) reached a new 52-week high during trading on Monday after Susquehanna raised their price target on the stock from $190.00 to $220.00. Susquehanna currently has a positive rating on the stock. Westinghouse Air Brake Technologies traded as high as $191.99 and last traded at $191.76, with a volume of 15888 shares trading hands. The stock had previously closed at $191.15.

Separately, Bank of America increased their price objective on shares of Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.90.

Insider Transactions at Westinghouse Air Brake Technologies

In related news, insider Alicia Hammersmith sold 4,169 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $165.54, for a total value of $690,136.26. Following the completion of the sale, the insider now owns 5,606 shares in the company, valued at approximately $928,017.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Nicole B. Theophilus sold 4,801 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $154.64, for a total value of $742,426.64. Following the completion of the sale, the executive vice president now owns 15,608 shares in the company, valued at approximately $2,413,621.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alicia Hammersmith sold 4,169 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $165.54, for a total transaction of $690,136.26. Following the completion of the sale, the insider now owns 5,606 shares of the company’s stock, valued at $928,017.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,392 shares of company stock worth $2,754,390 in the last 90 days. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its position in Westinghouse Air Brake Technologies by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 335,483 shares of the transportation company’s stock valued at $53,023,000 after buying an additional 7,012 shares during the period. Border to Coast Pensions Partnership Ltd boosted its position in Westinghouse Air Brake Technologies by 4.5% in the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 201,011 shares of the transportation company’s stock valued at $36,431,000 after buying an additional 8,575 shares during the period. BNP Paribas Financial Markets boosted its position in Westinghouse Air Brake Technologies by 107.8% in the 1st quarter. BNP Paribas Financial Markets now owns 170,248 shares of the transportation company’s stock valued at $24,802,000 after buying an additional 88,325 shares during the period. Forsta AP Fonden boosted its position in Westinghouse Air Brake Technologies by 64.5% in the 1st quarter. Forsta AP Fonden now owns 53,300 shares of the transportation company’s stock valued at $7,765,000 after buying an additional 20,900 shares during the period. Finally, DNB Asset Management AS boosted its position in Westinghouse Air Brake Technologies by 3.9% in the 2nd quarter. DNB Asset Management AS now owns 46,343 shares of the transportation company’s stock valued at $7,325,000 after buying an additional 1,729 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Trading Down 0.1 %

The firm has a market capitalization of $33.46 billion, a PE ratio of 37.07, a PEG ratio of 1.59 and a beta of 1.27. The company’s 50-day moving average price is $173.44 and its 200-day moving average price is $164.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 1.38.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.08. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Westinghouse Air Brake Technologies had a net margin of 9.94% and a return on equity of 12.05%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.41 EPS. On average, sell-side analysts expect that Westinghouse Air Brake Technologies Co. will post 7.46 earnings per share for the current year.

Westinghouse Air Brake Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is currently 15.63%.

Westinghouse Air Brake Technologies Company Profile

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.