Westinghouse Air Brake Technologies (NYSE:WAB) Hits New 1-Year High – Here’s Why

Westinghouse Air Brake Technologies Co. (NYSE:WAB)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $203.04 and last traded at $202.38, with a volume of 35652 shares changing hands. The stock had previously closed at $201.71.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Stephens lifted their price objective on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. 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 research report on Thursday, October 24th. Susquehanna raised their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a report on Monday, October 21st. Finally, KeyCorp raised their target price on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.30.

Westinghouse Air Brake Technologies Price Performance

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 fifty day simple moving average of $189.19 and a two-hundred day simple moving average of $172.14. The firm has a market cap of $34.30 billion, a PE ratio of 33.34, a PEG ratio of 1.44 and a beta of 1.27.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.13. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Westinghouse Air Brake Technologies had a net margin of 10.25% and a return on equity of 12.52%. Westinghouse Air Brake Technologies’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.70 earnings per share. Equities analysts predict that Westinghouse Air Brake Technologies Co. will post 7.61 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 13.33%.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other news, Director Albert J. Neupaver sold 35,722 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Wednesday, October 30th. The shares were 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. The trade was a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP David L. Deninno sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $188.60, for a total value of $1,886,000.00. Following the completion of the transaction, the vice president now directly owns 55,352 shares in the company, valued at approximately $10,439,387.20. This trade represents a 15.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,393 shares of company stock worth $9,350,243 over the last quarter. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Pinnacle Bancorp Inc. increased its holdings in shares of Westinghouse Air Brake Technologies by 55.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 55 shares during the period. Eastern Bank acquired a new stake in shares of Westinghouse Air Brake Technologies in the 3rd quarter worth $33,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Westinghouse Air Brake Technologies by 26.2% in 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 in the last quarter. Camden National Bank acquired a new stake in shares of Westinghouse Air Brake Technologies in the 3rd quarter worth $222,000. Finally, Harvest Fund Management Co. Ltd boosted its position in shares of Westinghouse Air Brake Technologies by 10.4% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company’s stock worth $331,000 after purchasing an additional 172 shares in the last quarter. Institutional investors 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.