Westinghouse Air Brake Technologies (NYSE:WAB) Price Target Raised to $220.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its price objective upped by KeyCorp from $200.00 to $220.00 in a research note published on Wednesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the transportation company’s stock.

A number of other equities analysts also recently weighed in on the stock. Bank of America upped their price target 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. Susquehanna raised their price target on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. The Goldman Sachs Group boosted their price target on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, Stephens raised their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Westinghouse Air Brake Technologies currently has an average rating of “Moderate Buy” and an average target price of $175.30.

Westinghouse Air Brake Technologies Stock Performance

Shares of NYSE WAB opened at $198.84 on Wednesday. Westinghouse Air Brake Technologies has a 1 year low of $113.93 and a 1 year high of $202.84. The firm has a market cap of $34.18 billion, a P/E ratio of 33.14, a PEG ratio of 1.55 and a beta of 1.27. The stock has a fifty day moving average price of $183.60 and a two-hundred day moving average price of $169.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.65 and a current ratio of 1.30.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.13. The business 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 company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $1.70 earnings per share. Research analysts forecast that Westinghouse Air Brake Technologies will post 7.61 EPS for the current fiscal 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 0.40%. 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 business’s 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 transaction, the chief accounting officer now owns 5,683 shares in the company, valued at approximately $1,134,951.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Alicia Hammersmith sold 4,169 shares of Westinghouse Air Brake Technologies 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 sale, the insider now directly owns 5,606 shares in the company, valued at approximately $928,017.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO John A. Mastalerz, Jr. sold 2,796 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $199.71, for a total transaction of $558,389.16. Following the completion of the transaction, the chief accounting officer now directly owns 5,683 shares of the company’s stock, valued at $1,134,951.93. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,562 shares of company stock worth $10,040,379 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Hedge funds have recently modified their holdings of the stock. Dorsey & Whitney Trust CO LLC acquired a new stake in Westinghouse Air Brake Technologies in the 1st quarter valued at $204,000. Silvercrest Asset Management Group LLC lifted its holdings in shares of Westinghouse Air Brake Technologies by 17.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 7,727 shares of the transportation company’s stock valued at $1,126,000 after acquiring an additional 1,146 shares during the period. Plato Investment Management Ltd grew its holdings in shares of Westinghouse Air Brake Technologies by 59,168.4% in the 1st quarter. Plato Investment Management Ltd now owns 11,261 shares of the transportation company’s stock worth $1,641,000 after purchasing an additional 11,242 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Westinghouse Air Brake Technologies by 26.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the transportation company’s stock worth $90,000 after purchasing an additional 118 shares during the last quarter. Finally, DNB Asset Management AS increased its position in shares of Westinghouse Air Brake Technologies by 3.9% during the 2nd quarter. DNB Asset Management AS now owns 46,343 shares of the transportation company’s stock worth $7,325,000 after purchasing an additional 1,729 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

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.