Westinghouse Air Brake Technologies (NYSE:WAB) Sets New 12-Month High After Analyst Upgrade

Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB - Get Free Report) hit a new 52-week high during mid-day trading on Monday after Susquehanna raised their price target on the stock from $190.00 to $220.00. Susquehanna currently has a positive rating on the stock. Westinghouse Air Brake Technologies traded as high as $191.99 and last traded at $191.76, with a volume of 15888 shares traded. The stock had previously closed at $191.15.

Separately, Bank of America increased their price target on shares of Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a "buy" rating in a report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Westinghouse Air Brake Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $166.90.

Insider Activity

In related news, insider Alicia Hammersmith sold 4,169 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $165.54, for a total transaction of $690,136.26. Following the sale, the insider now owns 5,606 shares in the company, valued at approximately $928,017.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Alicia Hammersmith sold 4,169 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $165.54, for a total value of $690,136.26. Following the completion of the sale, the insider now directly owns 5,606 shares in the company, valued at $928,017.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Hehir sold 1,000 shares of Westinghouse Air Brake Technologies stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $161.62, for a total transaction of $161,620.00. Following the completion of the sale, the director now directly owns 23,230 shares in the company, valued at $3,754,432.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,392 shares of company stock valued at $2,754,390 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its stake in Westinghouse Air Brake Technologies by 2.1% during the 2nd quarter. Rhumbline Advisers now owns 335,483 shares of the transportation company's stock worth $53,023,000 after purchasing an additional 7,012 shares during the last quarter. Border to Coast Pensions Partnership Ltd raised its holdings in Westinghouse Air Brake Technologies by 4.5% in the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 201,011 shares of the transportation company's stock valued at $36,431,000 after acquiring an additional 8,575 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Westinghouse Air Brake Technologies by 107.8% in the 1st quarter. BNP Paribas Financial Markets now owns 170,248 shares of the transportation company's stock worth $24,802,000 after purchasing an additional 88,325 shares in the last quarter. Forsta AP Fonden boosted its stake in Westinghouse Air Brake Technologies by 64.5% during the first quarter. Forsta AP Fonden now owns 53,300 shares of the transportation company's stock worth $7,765,000 after buying an additional 20,900 shares during the last quarter. Finally, DNB Asset Management AS increased its position in Westinghouse Air Brake Technologies by 3.9% during the second quarter. DNB Asset Management AS now owns 46,343 shares of the transportation company's stock worth $7,325,000 after purchasing an additional 1,729 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Westinghouse Air Brake Technologies Stock Down 0.6 %

The firm's fifty day simple moving average is $172.75 and its two-hundred day simple moving average is $164.65. The company has a current ratio of 1.38, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $33.28 billion, a price-to-earnings ratio of 33.42, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27.

Westinghouse Air Brake Technologies (NYSE:WAB - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.88 by $0.08. The business had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.64 billion. Westinghouse Air Brake Technologies had a return on equity of 12.05% and a net margin of 9.94%. The company's revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.41 EPS. Sell-side analysts anticipate that Westinghouse Air Brake Technologies Co. will post 7.46 EPS for the current year.

Westinghouse Air Brake Technologies Announces Dividend

The company also recently declared 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 of this dividend is Wednesday, November 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Westinghouse Air Brake Technologies's dividend payout ratio is currently 14.04%.

Westinghouse Air Brake Technologies Company Profile

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.