Westinghouse Air Brake Technologies (NYSE:WAB) Price Target Raised to $184.00 at Bank of America

Westinghouse Air Brake Technologies (NYSE:WAB) had its price target raised by Bank of America from $183.00 to $184.00 in a research report report published on Monday, Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

WAB has been the subject of several other reports. TD Cowen increased their price target on shares of Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company a hold rating in a research report on Thursday, April 25th. KeyCorp increased their price target on shares of Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the company an overweight rating in a research report on Thursday, April 25th. Susquehanna increased their price target on shares of Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the company a positive rating in a research report on Thursday, April 25th. The Goldman Sachs Group increased their price objective on shares of Westinghouse Air Brake Technologies from $160.00 to $181.00 and gave the company a neutral rating in a research report on Tuesday, June 4th. Finally, Stephens increased their price objective on shares of Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an overweight rating in a research report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Westinghouse Air Brake Technologies currently has an average rating of Moderate Buy and an average target price of $160.82.

Westinghouse Air Brake Technologies Stock Up 1.2 %

Shares of Westinghouse Air Brake Technologies stock opened at $159.17 on Monday. The stock has a market cap of $28.07 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.48 and a beta of 1.29. The firm’s 50-day moving average is $163.56 and its two-hundred day moving average is $150.25. Westinghouse Air Brake Technologies has a 1 year low of $98.70 and a 1 year high of $170.83. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.52 and a quick ratio of 0.77.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.88 by $0.08. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 earnings per share. As a group, research analysts expect that Westinghouse Air Brake Technologies will post 7.34 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Wednesday, August 14th. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 15.63%.

Insiders Place Their Bets

In other Westinghouse Air Brake Technologies news, EVP Gregory Sbrocco sold 1,646 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $167.30, for a total transaction of $275,375.80. Following the completion of the transaction, the executive vice president now directly owns 16,666 shares of the company’s stock, valued at approximately $2,788,221.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Westinghouse Air Brake Technologies news, EVP Gregory Sbrocco sold 1,646 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $167.30, for a total transaction of $275,375.80. Following the completion of the transaction, the executive vice president now directly owns 16,666 shares of the company’s stock, valued at approximately $2,788,221.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Albert J. Neupaver sold 29,100 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $161.63, for a total transaction of $4,703,433.00. Following the transaction, the director now directly owns 595,412 shares of the company’s stock, valued at $96,236,441.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,746 shares of company stock valued at $5,955,249. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its stake in shares of Westinghouse Air Brake Technologies by 26.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the transportation company’s stock worth $90,000 after purchasing an additional 118 shares during the period. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Westinghouse Air Brake Technologies during the 1st quarter worth approximately $204,000. V Square Quantitative Management LLC grew its stake in shares of Westinghouse Air Brake Technologies by 36.8% during the 1st quarter. V Square Quantitative Management LLC now owns 2,624 shares of the transportation company’s stock worth $382,000 after purchasing an additional 706 shares during the period. Greenleaf Trust grew its stake in shares of Westinghouse Air Brake Technologies by 4.3% during the 1st quarter. Greenleaf Trust now owns 3,201 shares of the transportation company’s stock worth $466,000 after purchasing an additional 133 shares during the period. Finally, First Hawaiian Bank grew its stake in shares of Westinghouse Air Brake Technologies by 4.4% during the 1st quarter. First Hawaiian Bank now owns 3,699 shares of the transportation company’s stock worth $539,000 after purchasing an additional 157 shares during the period. 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.