Westinghouse Air Brake Technologies (NYSE:WAB) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Westinghouse Air Brake Technologies Co. (NYSE:WAB)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $176.58 and traded as high as $194.26. Westinghouse Air Brake Technologies shares last traded at $194.16, with a volume of 321,609 shares.

Wall Street Analyst Weigh In

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

Westinghouse Air Brake Technologies Trading Down 0.6 %

The firm has a fifty day moving average of $196.08 and a 200-day moving average of $176.70. The stock has a market capitalization of $33.19 billion, a price-to-earnings ratio of 32.18, a P/E/G ratio of 1.45 and a beta of 1.26. 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 issued its earnings results on Wednesday, October 23rd. The transportation company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.87 by $0.13. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.68 billion. Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.70 EPS. As a group, equities analysts predict that Westinghouse Air Brake Technologies Co. will post 7.6 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given 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 0.41%. Westinghouse Air Brake Technologies’s payout ratio is currently 13.33%.

Insider Activity at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, VP David L. Deninno sold 875 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $188.70, for a total value of $165,112.50. Following the sale, the vice president now directly owns 55,352 shares of the company’s stock, valued at $10,444,922.40. This trade represents a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Albert J. Neupaver sold 35,722 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $188.70, for a total transaction of $6,740,741.40. Following the transaction, the director now directly owns 614,447 shares of the company’s stock, valued at approximately $115,946,148.90. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,393 shares of company stock valued at $9,350,243 in the last quarter. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Several large investors have recently bought and sold shares of the stock. Erste Asset Management GmbH bought a new position in Westinghouse Air Brake Technologies during the third quarter valued at about $61,474,000. Rhumbline Advisers lifted its holdings 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 acquiring an additional 7,012 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Westinghouse Air Brake Technologies by 5.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 278,729 shares of the transportation company’s stock valued at $50,665,000 after purchasing an additional 13,683 shares in the last quarter. Border to Coast Pensions Partnership Ltd grew its stake in shares of 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 worth $36,431,000 after purchasing an additional 8,575 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Westinghouse Air Brake Technologies in the 3rd quarter worth approximately $24,630,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.