Bank of America Increases Westinghouse Air Brake Technologies (NYSE:WAB) Price Target to $162.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price increased by Bank of America from $156.00 to $162.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other research firms also recently issued reports on WAB. Wells Fargo & Company lifted their price target on shares of Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the company an overweight rating in a research report on Thursday, February 15th. Susquehanna lifted their target price on Westinghouse Air Brake Technologies from $150.00 to $160.00 and gave the stock a positive rating in a research note on Thursday, February 15th. Jefferies Financial Group upgraded Westinghouse Air Brake Technologies from a hold rating to a buy rating and boosted their price objective for the company from $115.00 to $150.00 in a research note on Thursday, January 11th. Redburn Atlantic cut Westinghouse Air Brake Technologies from a buy rating to a neutral rating and set a $135.00 price objective on the stock. in a research note on Thursday, February 15th. Finally, TD Cowen boosted their price objective on Westinghouse Air Brake Technologies from $125.00 to $130.00 and gave the company a market perform rating in a research note on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $146.91.

Westinghouse Air Brake Technologies Stock Down 0.6 %

Shares of NYSE WAB opened at $144.55 on Monday. The stock has a 50-day moving average price of $141.91 and a two-hundred day moving average price of $126.31. Westinghouse Air Brake Technologies has a 12 month low of $91.89 and a 12 month high of $151.00. The company has a current ratio of 1.20, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The company has a market cap of $25.56 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 1.67 and a beta of 1.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its earnings results on Wednesday, February 14th. The transportation company reported $1.54 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.04). The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.48 billion. Westinghouse Air Brake Technologies had a net margin of 8.42% and a return on equity of 10.34%. The business’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.30 earnings per share. As a group, analysts forecast that Westinghouse Air Brake Technologies will post 6.73 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 annualized dividend and a yield of 0.55%. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. Westinghouse Air Brake Technologies’s payout ratio is presently 17.70%.

Insider Activity at Westinghouse Air Brake Technologies

In related news, VP David L. Deninno sold 6,607 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $135.61, for a total transaction of $895,975.27. Following the completion of the transaction, the vice president now owns 65,535 shares in the company, valued at $8,887,201.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Nicole B. Theophilus sold 2,668 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $140.46, for a total value of $374,747.28. Following the sale, the executive vice president now directly owns 24,792 shares of the company’s stock, valued at $3,482,284.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP David L. Deninno sold 6,607 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $135.61, for a total value of $895,975.27. Following the sale, the vice president now directly owns 65,535 shares in the company, valued at $8,887,201.35. The disclosure for this sale can be found here. Insiders sold a total of 63,964 shares of company stock worth $8,924,584 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

Institutional investors have recently modified their holdings of the business. First Hawaiian Bank lifted its holdings in Westinghouse Air Brake Technologies by 4.4% in the first quarter. First Hawaiian Bank now owns 3,699 shares of the transportation company’s stock valued at $539,000 after acquiring an additional 157 shares during the period. Applied Finance Capital Management LLC grew its position in shares of Westinghouse Air Brake Technologies by 9.8% during the fourth quarter. Applied Finance Capital Management LLC now owns 159,384 shares of the transportation company’s stock worth $20,226,000 after purchasing an additional 14,285 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Westinghouse Air Brake Technologies by 7.7% during the fourth quarter. BNP Paribas Financial Markets now owns 81,916 shares of the transportation company’s stock worth $10,395,000 after purchasing an additional 5,859 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new position in Westinghouse Air Brake Technologies during the 4th quarter valued at approximately $1,030,000. Finally, iA Global Asset Management Inc. purchased a new position in Westinghouse Air Brake Technologies during the 3rd quarter valued at approximately $1,915,000. 91.69% of the stock is 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.