Westinghouse Air Brake Technologies (NYSE:WAB) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Westinghouse Air Brake Technologies Co. (NYSE:WAB)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $177.96 and traded as high as $191.60. Westinghouse Air Brake Technologies shares last traded at $190.45, with a volume of 822,152 shares changing hands.

Analysts Set New Price Targets

WAB has been the topic of a number of recent research reports. KeyCorp boosted their price target on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Stephens increased their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. The Goldman Sachs Group boosted their price target on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Susquehanna increased their price objective on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Westinghouse Air Brake Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.30.

Westinghouse Air Brake Technologies Stock Performance

The company has a market capitalization of $32.74 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 1.45 and a beta of 1.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.65. The stock has a 50 day simple moving average of $196.27 and a two-hundred day simple moving average of $177.96.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.13. The firm had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.70 earnings per share. As a group, analysts anticipate that Westinghouse Air Brake Technologies Co. will post 7.6 earnings per share for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Westinghouse Air Brake Technologies’s payout ratio is 13.33%.

Insider Activity at Westinghouse Air Brake Technologies

In other news, CAO John A. Mastalerz, Jr. sold 2,796 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $199.71, for a total transaction of $558,389.16. Following the completion of the sale, the chief accounting officer now owns 5,683 shares in the company, valued at approximately $1,134,951.93. This represents a 32.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David L. Deninno sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $188.60, for a total value of $1,886,000.00. Following the transaction, the vice president now directly owns 55,352 shares in the company, valued at approximately $10,439,387.20. This represents a 15.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,393 shares of company stock worth $9,350,243 in the last 90 days. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

Several hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC acquired a new stake in shares of Westinghouse Air Brake Technologies in the 3rd quarter worth $24,630,000. Garde Capital Inc. acquired a new position in Westinghouse Air Brake Technologies during the third quarter worth $110,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Westinghouse Air Brake Technologies during the 3rd quarter worth $386,000. iA Global Asset Management Inc. grew its stake in shares of Westinghouse Air Brake Technologies by 21.5% during the 3rd quarter. iA Global Asset Management Inc. now owns 18,613 shares of the transportation company’s stock worth $3,383,000 after purchasing an additional 3,288 shares during the period. Finally, Erste Asset Management GmbH purchased a new position in shares of Westinghouse Air Brake Technologies in the 3rd quarter valued at about $61,474,000. 91.69% of the stock is owned by institutional investors and hedge funds.

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.