Westinghouse Air Brake Technologies Co. (NYSE:WAB) Increases Dividend to $0.25 Per Share

Westinghouse Air Brake Technologies Co. (NYSE:WAB - Get Free Report) declared a quarterly dividend on Friday, February 7th,RTT News reports. Shareholders of record on Friday, February 21st will be given a dividend of 0.25 per share by the transportation company on Friday, March 7th. This represents a $1.00 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Friday, February 21st. This is a boost from Westinghouse Air Brake Technologies's previous quarterly dividend of $0.20.

Westinghouse Air Brake Technologies has increased its dividend payment by an average of 18.6% annually over the last three years. Westinghouse Air Brake Technologies has a dividend payout ratio of 8.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Westinghouse Air Brake Technologies to earn $8.59 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 9.3%.

Westinghouse Air Brake Technologies Price Performance

Shares of WAB traded down $0.20 during midday trading on Tuesday, hitting $208.17. 1,430,856 shares of the company traded hands, compared to its average volume of 889,921. The firm has a 50 day moving average of $199.40 and a 200-day moving average of $185.99. Westinghouse Air Brake Technologies has a 52 week low of $131.33 and a 52 week high of $210.88. The stock has a market cap of $35.78 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 1.33 and a beta of 1.27. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.65 and a current ratio of 1.30.

Analysts Set New Price Targets

WAB has been the subject of several research reports. The Goldman Sachs Group increased their price objective on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, October 24th. Stephens increased their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Susquehanna increased their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a "positive" rating in a report on Monday, October 21st. KeyCorp increased their price target on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Finally, Bank of America increased their price target on shares of Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $188.50.

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.