Brokerages Set Westinghouse Air Brake Technologies Co. (NYSE:WAB) Target Price at $206.33

Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $206.33.

Several research firms have issued reports on WAB. Bank of America lifted their price target on shares of Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Stephens restated an “overweight” rating and set a $220.00 target price on shares of Westinghouse Air Brake Technologies in a research note on Thursday, February 13th. StockNews.com cut Westinghouse Air Brake Technologies from a “buy” rating to a “hold” rating in a research note on Monday. Finally, KeyCorp boosted their price target on 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.

Insider Activity

In related news, CEO Rafael Santana sold 886 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $182.34, for a total value of $161,553.24. Following the sale, the chief executive officer now owns 176,295 shares in the company, valued at $32,145,630.30. This represents a 0.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

A number of institutional investors have recently bought and sold shares of WAB. Bridges Investment Management Inc. increased its stake in shares of Westinghouse Air Brake Technologies by 3.4% in the third quarter. Bridges Investment Management Inc. now owns 2,357 shares of the transportation company’s stock worth $428,000 after acquiring an additional 77 shares during the period. Greenleaf Trust boosted its holdings in Westinghouse Air Brake Technologies by 2.9% in the fourth quarter. Greenleaf Trust now owns 3,344 shares of the transportation company’s stock valued at $634,000 after purchasing an additional 94 shares during the last quarter. Harvest Fund Management Co. Ltd grew its position in Westinghouse Air Brake Technologies by 10.4% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company’s stock worth $331,000 after purchasing an additional 172 shares during the period. Hillsdale Investment Management Inc. raised its stake in shares of Westinghouse Air Brake Technologies by 3.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 5,400 shares of the transportation company’s stock valued at $1,024,000 after buying an additional 200 shares during the last quarter. Finally, Putney Financial Group LLC acquired a new position in shares of Westinghouse Air Brake Technologies in the 4th quarter valued at about $52,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Westinghouse Air Brake Technologies Trading Up 1.3 %

Shares of NYSE WAB opened at $179.91 on Thursday. The business has a fifty day moving average price of $195.64 and a 200 day moving average price of $189.17. Westinghouse Air Brake Technologies has a 1-year low of $139.12 and a 1-year high of $210.88. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.69. The stock has a market capitalization of $30.74 billion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings results on Wednesday, February 12th. The transportation company reported $1.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.06). Westinghouse Air Brake Technologies had a net margin of 10.17% and a return on equity of 12.78%. Equities research analysts expect that Westinghouse Air Brake Technologies will post 8.54 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. Westinghouse Air Brake Technologies’s payout ratio is presently 16.58%.

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.