Westinghouse Air Brake Technologies (NYSE:WAB) Hits New 12-Month High After Analyst Upgrade

Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) hit a new 52-week high during mid-day 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. The stock had previously closed at $191.15.

Separately, Bank of America upped their price objective on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Westinghouse Air Brake Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.90.

Insider Activity

In other Westinghouse Air Brake Technologies news, CTO Eric Gebhardt sold 7,422 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $156.32, for a total value of $1,160,207.04. Following the completion of the transaction, the chief technology officer now owns 22,411 shares in the company, valued at approximately $3,503,287.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Westinghouse Air Brake Technologies news, Director Brian Hehir sold 1,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $161.62, for a total value of $161,620.00. Following the sale, the director now owns 23,230 shares of the company’s stock, valued at $3,754,432.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Eric Gebhardt sold 7,422 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $156.32, for a total value of $1,160,207.04. Following the completion of the sale, the chief technology officer now owns 22,411 shares in the company, valued at $3,503,287.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,392 shares of company stock valued at $2,754,390. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Westinghouse Air Brake Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Border to Coast Pensions Partnership Ltd lifted its stake in shares of Westinghouse Air Brake Technologies by 4.5% during the third quarter. Border to Coast Pensions Partnership Ltd now owns 201,011 shares of the transportation company’s stock worth $36,431,000 after purchasing an additional 8,575 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Westinghouse Air Brake Technologies by 22.7% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,461 shares of the transportation company’s stock valued at $447,000 after buying an additional 455 shares during the last quarter. Pinnacle Bancorp Inc. boosted its stake in Westinghouse Air Brake Technologies by 55.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 55 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Westinghouse Air Brake Technologies by 4.4% in the 3rd quarter. UMB Bank n.a. now owns 4,910 shares of the transportation company’s stock valued at $892,000 after purchasing an additional 209 shares in the last quarter. Finally, Bridges Investment Management Inc. bought a new position in Westinghouse Air Brake Technologies during the 2nd quarter worth approximately $360,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Stock Down 0.6 %

The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 1.38. The stock has a fifty day moving average price of $172.75 and a two-hundred day moving average price of $164.65. The firm has a market capitalization of $33.28 billion, a P/E ratio of 33.42, a P/E/G ratio of 1.59 and a beta of 1.27.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.88 by $0.08. The firm had revenue of $2.64 billion for 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%. Westinghouse Air Brake Technologies’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 earnings per share. Research analysts forecast that Westinghouse Air Brake Technologies Co. will post 7.46 EPS for the current year.

Westinghouse Air Brake Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.20 dividend. The ex-dividend date 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 is currently 14.04%.

About Westinghouse Air Brake Technologies

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.