Westinghouse Air Brake Technologies (NYSE:WAB) PT Raised to $152.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price boosted by The Goldman Sachs Group from $138.00 to $152.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

Several other analysts have also recently issued reports on WAB. Bank of America upped their price objective on Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the company a buy rating in a research note on Monday. TD Cowen boosted their target price on shares of 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. KeyCorp increased their target price on shares of Westinghouse Air Brake Technologies from $133.00 to $155.00 and gave the stock an overweight rating in a report on Thursday, February 15th. Stephens lifted their price target on shares of Westinghouse Air Brake Technologies from $153.00 to $155.00 and gave the company an overweight rating in a report on Thursday, February 15th. Finally, Jefferies Financial Group upgraded shares of Westinghouse Air Brake Technologies from a hold rating to a buy rating and increased their price objective for the stock from $115.00 to $150.00 in a research note on Thursday, January 11th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $146.91.

Westinghouse Air Brake Technologies Price Performance

Westinghouse Air Brake Technologies stock opened at $144.27 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 1.20 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $25.51 billion, a P/E ratio of 31.92, a PEG ratio of 1.67 and a beta of 1.40. The firm has a fifty day moving average of $142.06 and a 200-day moving average of $126.43. Westinghouse Air Brake Technologies has a 52-week low of $91.89 and a 52-week high of $151.00.

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

Westinghouse Air Brake Technologies Increases Dividend

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

Insider Activity

In other news, VP David L. Deninno sold 6,607 shares of Westinghouse Air Brake Technologies stock in a transaction 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 transaction, the vice president now directly owns 65,535 shares in the company, valued at approximately $8,887,201.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Westinghouse Air Brake Technologies news, Director Brian Hehir sold 5,470 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on 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 in the company, valued at $3,132,227. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 owns 65,535 shares of the company’s stock, valued at approximately $8,887,201.35. The disclosure for this sale can be found here. Insiders sold 63,964 shares of company stock worth $8,924,584 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

Several hedge funds have recently modified their holdings of WAB. Cibc World Markets Corp purchased a new stake in Westinghouse Air Brake Technologies during the first quarter valued at about $1,092,000. Eudaimonia Partners LLC acquired a new stake in shares of Westinghouse Air Brake Technologies during the first quarter valued at approximately $366,000. Neuberger Berman Group LLC lifted its position in shares of Westinghouse Air Brake Technologies by 2,233.1% in the 1st quarter. Neuberger Berman Group LLC now owns 245,277 shares of the transportation company’s stock valued at $23,589,000 after acquiring an additional 234,764 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new position in Westinghouse Air Brake Technologies in the 4th quarter worth approximately $30,000. Finally, State of Tennessee Treasury Department grew its position in Westinghouse Air Brake Technologies by 13.8% during the 1st quarter. State of Tennessee Treasury Department now owns 115,233 shares of the transportation company’s stock worth $11,645,000 after purchasing an additional 13,949 shares in the last quarter. 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.