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

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

Other research analysts also recently issued research reports about the company. 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. Susquehanna boosted their price target on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a report on Monday, October 21st. Bank of America increased their target price on shares of Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Stephens lifted their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $175.30.

Westinghouse Air Brake Technologies Trading Down 0.8 %

WAB stock opened at $195.17 on Wednesday. Westinghouse Air Brake Technologies has a 52 week low of $114.08 and a 52 week high of $202.84. The company has a market capitalization of $33.55 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 1.54 and a beta of 1.27. The company’s 50-day simple moving average is $184.95 and its 200 day simple moving average is $170.37. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.13. Westinghouse Air Brake Technologies had a net margin of 10.25% and a return on equity of 12.52%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the prior year, the business posted $1.70 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Westinghouse Air Brake Technologies will post 7.61 earnings per share for the current year.

Westinghouse Air Brake Technologies Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is 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 dividend payout ratio (DPR) is presently 13.33%.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other news, VP David L. Deninno sold 875 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $188.70, for a total value of $165,112.50. Following the transaction, the vice president now directly owns 55,352 shares of the company’s stock, valued at $10,444,922.40. The trade was a 1.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO John A. Mastalerz, Jr. sold 2,796 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $199.71, for a total value of $558,389.16. Following the sale, the chief accounting officer now directly owns 5,683 shares of the company’s stock, valued at $1,134,951.93. This represents a 32.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,562 shares of company stock worth $10,040,379. Insiders own 1.10% of the company’s stock.

Institutional Trading of Westinghouse Air Brake Technologies

Several large investors have recently modified their holdings of WAB. Erste Asset Management GmbH bought a new stake in Westinghouse Air Brake Technologies in the 3rd quarter valued at about $61,474,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Westinghouse Air Brake Technologies during the third quarter worth $7,128,000. BNP Paribas Financial Markets lifted its stake in shares of Westinghouse Air Brake Technologies by 5.2% in the third quarter. BNP Paribas Financial Markets now owns 278,729 shares of the transportation company’s stock valued at $50,665,000 after buying an additional 13,683 shares in the last quarter. Plato Investment Management Ltd raised its stake in shares of Westinghouse Air Brake Technologies by 59,168.4% in the first 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. Finally, Border to Coast Pensions Partnership Ltd boosted its position in shares of Westinghouse Air Brake Technologies by 4.5% during the third quarter. Border to Coast Pensions Partnership Ltd now owns 201,011 shares of the transportation company’s stock valued at $36,431,000 after buying an additional 8,575 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.