Westinghouse Air Brake Technologies Co. (NYSE:WAB) Short Interest Update

Westinghouse Air Brake Technologies Co. (NYSE:WAB) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totalling 1,840,000 shares, a decline of 17.1% from the September 30th total of 2,220,000 shares. Based on an average daily volume of 1,100,000 shares, the short-interest ratio is presently 1.7 days. Currently, 1.1% of the company’s stock are short sold.

Westinghouse Air Brake Technologies Trading Up 1.1 %

WAB stock traded up $2.09 on Monday, hitting $190.85. 916,061 shares of the company were exchanged, compared to its average volume of 1,088,341. 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 market capitalization of $32.81 billion, a price-to-earnings ratio of 31.81, a price-to-earnings-growth ratio of 1.48 and a beta of 1.27. Westinghouse Air Brake Technologies has a twelve month low of $104.18 and a twelve month high of $192.48. The business’s fifty day moving average is $175.94 and its two-hundred day moving average is $166.07.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.13. Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the prior year, the firm posted $1.70 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, research analysts forecast that Westinghouse Air Brake Technologies will post 7.53 earnings per share for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Bank of America lifted their price target on shares of Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Stephens lifted their price objective on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday. Susquehanna upped their target price on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a report on Monday, October 21st. Finally, The Goldman Sachs Group lifted their price target on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.80.

Insider Buying and Selling

In other Westinghouse Air Brake Technologies news, EVP Nicole B. Theophilus sold 4,801 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $154.64, for a total value of $742,426.64. Following the transaction, the executive vice president now directly owns 15,608 shares in the company, valued at $2,413,621.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Nicole B. Theophilus sold 4,801 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $154.64, for a total transaction of $742,426.64. Following the completion of the sale, the executive vice president now directly owns 15,608 shares of the company’s stock, valued at $2,413,621.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP David L. Deninno sold 10,000 shares of the stock in a transaction on 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 sale, the vice president now directly owns 55,352 shares of the company’s stock, valued at approximately $10,439,387.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,392 shares of company stock worth $4,640,390. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pinnacle Bancorp Inc. lifted its stake in shares of Westinghouse Air Brake Technologies by 55.0% during the third quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock worth $28,000 after purchasing an additional 55 shares in the last quarter. Eastern Bank acquired a new position in Westinghouse Air Brake Technologies during the 3rd quarter worth approximately $33,000. Massmutual Trust Co. FSB ADV grew its position in Westinghouse Air Brake Technologies by 26.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the transportation company’s stock valued at $90,000 after acquiring an additional 118 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new stake in Westinghouse Air Brake Technologies in the first quarter valued at approximately $204,000. Finally, Bridges Investment Management Inc. acquired a new stake in Westinghouse Air Brake Technologies in the second quarter valued at approximately $360,000. 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.