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

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

WAB has been the topic of a number of other research reports. Stephens upped their price target on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group raised their target price on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Bank of America raised 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 report on Monday, July 22nd. Finally, Susquehanna lifted their price objective on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a research note on Monday, October 21st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $175.30.

Westinghouse Air Brake Technologies Price Performance

WAB opened at $195.17 on Wednesday. Westinghouse Air Brake Technologies has a fifty-two week low of $114.08 and a fifty-two week high of $202.84. The firm has a 50-day moving average of $184.95 and a 200 day moving average of $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. The firm has a market cap of $33.55 billion, a P/E ratio of 32.53, a PEG ratio of 1.54 and a beta of 1.27.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its earnings results on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.13. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.68 billion. Westinghouse Air Brake Technologies had a net margin of 10.25% and a return on equity of 12.52%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.70 EPS. On average, research analysts expect that Westinghouse Air Brake Technologies will post 7.61 EPS for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is presently 13.33%.

Insider Activity at Westinghouse Air Brake Technologies

In other news, Director Albert J. Neupaver sold 35,722 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $188.70, for a total transaction of $6,740,741.40. Following the completion of the sale, the director now owns 614,447 shares of the company’s stock, valued at approximately $115,946,148.90. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO John A. Mastalerz, Jr. sold 2,796 shares of Westinghouse Air Brake Technologies stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $199.71, for a total transaction of $558,389.16. Following the completion of the transaction, the chief accounting officer now directly owns 5,683 shares in the company, valued at approximately $1,134,951.93. The trade was a 32.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,562 shares of company stock valued at $10,040,379. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC purchased a new position in Westinghouse Air Brake Technologies during the 1st quarter valued at about $204,000. Silvercrest Asset Management Group LLC increased its stake in shares of Westinghouse Air Brake Technologies by 17.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 7,727 shares of the transportation company’s stock valued at $1,126,000 after buying an additional 1,146 shares during the period. Plato Investment Management Ltd raised its holdings in shares of Westinghouse Air Brake Technologies by 59,168.4% during the first quarter. Plato Investment Management Ltd now owns 11,261 shares of the transportation company’s stock valued at $1,641,000 after acquiring an additional 11,242 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake 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 worth $90,000 after acquiring an additional 118 shares during the period. Finally, DNB Asset Management AS boosted its holdings in Westinghouse Air Brake Technologies by 3.9% in the second quarter. DNB Asset Management AS now owns 46,343 shares of the transportation company’s stock valued at $7,325,000 after acquiring an additional 1,729 shares in the last quarter. 91.69% of the stock is owned by 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.