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

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

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

Insider Buying and Selling

In other news, insider Alicia Hammersmith sold 4,169 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 5,606 shares of the company’s stock, valued at $928,017.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Alicia Hammersmith sold 4,169 shares of the company’s stock in a transaction on Monday, August 26th. The stock was 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 directly owns 5,606 shares in the company, valued at $928,017.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 directly owns 22,411 shares in the company, valued at $3,503,287.52. This trade 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 have sold 17,392 shares of company stock worth $2,754,390. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Forsta AP Fonden increased its position in shares of Westinghouse Air Brake Technologies by 64.5% in the first quarter. Forsta AP Fonden now owns 53,300 shares of the transportation company’s stock worth $7,765,000 after acquiring an additional 20,900 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Westinghouse Air Brake Technologies by 107.8% during the first quarter. BNP Paribas Financial Markets now owns 170,248 shares of the transportation company’s stock worth $24,802,000 after purchasing an additional 88,325 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Westinghouse Air Brake Technologies by 2.1% in the second quarter. Rhumbline Advisers now owns 335,483 shares of the transportation company’s stock worth $53,023,000 after buying an additional 7,012 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Westinghouse Air Brake Technologies by 12.3% in the second quarter. Nisa Investment Advisors LLC now owns 22,357 shares of the transportation company’s stock valued at $3,534,000 after buying an additional 2,457 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in Westinghouse Air Brake Technologies by 3.4% during the 2nd quarter. UMB Bank n.a. now owns 4,701 shares of the transportation company’s stock worth $743,000 after acquiring an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Price Performance

The company has a market cap of $33.64 billion, a price-to-earnings ratio of 33.57, a P/E/G ratio of 1.59 and a beta of 1.27. The company’s 50-day simple moving average is $172.75 and its 200-day simple moving average is $164.53. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.38 and a quick ratio of 0.73.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.08. Westinghouse Air Brake Technologies had a return on equity of 12.05% and a net margin of 9.94%. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter last year, the firm earned $1.41 EPS. Westinghouse Air Brake Technologies’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.20 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.80 annualized dividend and a yield of 0.42%. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 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.