Westinghouse Air Brake Technologies (NYSE:WAB) Reaches New 52-Week High – What’s Next?

Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) hit a new 52-week high during trading on Monday . The company traded as high as $202.73 and last traded at $202.07, with a volume of 46957 shares trading hands. The stock had previously closed at $200.69.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WAB. Bank of America upped their price objective on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Susquehanna raised their price objective on shares of 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. Stephens lifted their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their target price on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.80.

Westinghouse Air Brake Technologies Trading Up 1.0 %

The company’s 50 day simple moving average is $181.57 and its two-hundred day simple moving average is $169.25. 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 stock has a market cap of $34.83 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 1.56 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 (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.13. Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same period in the previous year, the company earned $1.70 EPS. The firm’s revenue was up 4.4% on a year-over-year basis. Research analysts expect that Westinghouse Air Brake Technologies Co. will post 7.58 EPS 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, November 27th. Stockholders of record on Wednesday, November 13th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Wednesday, November 13th. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 13.33%.

Insider Buying and Selling 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 value of $6,740,741.40. Following the completion of the transaction, the director now directly owns 614,447 shares of the company’s stock, valued at approximately $115,946,148.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Albert J. Neupaver sold 35,722 shares of the firm’s 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Eric Gebhardt sold 7,422 shares of Westinghouse Air Brake Technologies stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $156.32, for a total value of $1,160,207.04. Following the completion of the transaction, the chief technology officer now owns 22,411 shares of the company’s stock, valued at approximately $3,503,287.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,984 shares of company stock valued at $11,200,586 in the last 90 days. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Pinnacle Bancorp Inc. raised its stake in shares of Westinghouse Air Brake Technologies by 55.0% during the third quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock worth $28,000 after buying an additional 55 shares during the last quarter. Eastern Bank bought a new position in Westinghouse Air Brake Technologies during the 3rd quarter worth about $33,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Westinghouse Air Brake Technologies by 26.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the transportation company’s stock worth $90,000 after buying an additional 118 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Westinghouse Air Brake Technologies in the first quarter valued at approximately $204,000. Finally, Bridges Investment Management Inc. acquired a new position in Westinghouse Air Brake Technologies during the second quarter worth $360,000. 91.69% of the stock is currently owned by institutional investors.

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.