Westinghouse Air Brake Technologies (NYSE:WAB) Sets New 12-Month High at $146.43

Westinghouse Air Brake Technologies Co. (NYSE:WAB) reached a new 52-week high on Tuesday . The stock traded as high as $146.43 and last traded at $145.93, with a volume of 1041975 shares trading hands. The stock had previously closed at $144.86.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Morgan Stanley assumed coverage on Westinghouse Air Brake Technologies in a research note on Monday, January 8th. They set an “overweight” rating and a $137.00 price objective for the company. Susquehanna lifted their price objective on Westinghouse Air Brake Technologies from $150.00 to $160.00 and gave the company a “positive” rating in a research note on Thursday, February 15th. Stephens lifted their price objective on Westinghouse Air Brake Technologies from $153.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Wells Fargo & Company lifted their price objective on Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Finally, KeyCorp lifted their price objective on Westinghouse Air Brake Technologies from $133.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.20.

Westinghouse Air Brake Technologies Price Performance

The company has a market cap of $25.84 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 1.68 and a beta of 1.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.20. The stock has a 50 day moving average of $138.32 and a 200-day moving average of $123.04.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its earnings results on Wednesday, February 14th. The transportation company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.04). Westinghouse Air Brake Technologies had a net margin of 8.42% and a return on equity of 10.34%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same quarter last year, the business earned $1.30 earnings per share. Westinghouse Air Brake Technologies’s revenue was up 9.5% on a year-over-year basis. Equities analysts predict that Westinghouse Air Brake Technologies Co. will post 6.72 earnings per share for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a dividend of $0.20 per share. The ex-dividend date was Thursday, February 22nd. This is a boost from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is 17.70%.

Insider Buying and Selling

In related news, CEO Rafael Santana sold 40,219 shares of Westinghouse Air Brake Technologies stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $140.62, for a total value of $5,655,595.78. Following the sale, the chief executive officer now directly owns 123,019 shares in the company, valued at approximately $17,298,931.78. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Rafael Santana sold 40,219 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $140.62, for a total transaction of $5,655,595.78. Following the completion of the transaction, the chief executive officer now directly owns 123,019 shares in the company, valued at approximately $17,298,931.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Brian Hehir sold 5,470 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $135.80, for a total value of $742,826.00. Following the transaction, the director now owns 23,065 shares of the company’s stock, valued at $3,132,227. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,964 shares of company stock worth $8,924,584. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. iA Global Asset Management Inc. purchased a new position in Westinghouse Air Brake Technologies during the 3rd quarter valued at about $1,915,000. First Hawaiian Bank boosted its stake in shares of Westinghouse Air Brake Technologies by 49.1% in the 4th quarter. First Hawaiian Bank now owns 3,542 shares of the transportation company’s stock valued at $449,000 after buying an additional 1,167 shares during the period. Handelsinvest Investeringsforvaltning purchased a new position in shares of Westinghouse Air Brake Technologies in the 4th quarter valued at about $1,030,000. Watchman Group Inc. boosted its stake in shares of Westinghouse Air Brake Technologies by 0.9% in the 3rd quarter. Watchman Group Inc. now owns 28,921 shares of the transportation company’s stock valued at $3,073,000 after buying an additional 269 shares during the period. Finally, Applied Finance Capital Management LLC boosted its stake in shares of Westinghouse Air Brake Technologies by 5.7% in the 3rd quarter. Applied Finance Capital Management LLC now owns 145,099 shares of the transportation company’s stock valued at $15,420,000 after buying an additional 7,785 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.