Westinghouse Air Brake Technologies (NYSE:WAB) Hits New 1-Year High at $146.43

Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $146.43 and last traded at $145.93, with a volume of 1041975 shares changing hands. The stock had previously closed at $144.86.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Bank of America raised shares of Westinghouse Air Brake Technologies from a "neutral" rating to a "buy" rating and raised their price target for the company from $128.00 to $150.00 in a research report on Tuesday, January 16th. Jefferies Financial Group raised shares of Westinghouse Air Brake Technologies from a "hold" rating to a "buy" rating and raised their price target for the company from $115.00 to $150.00 in a research report on Thursday, January 11th. Wells Fargo & Company lifted their price objective on shares of Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, February 15th. Morgan Stanley started coverage on shares of Westinghouse Air Brake Technologies in a research report on Monday, January 8th. They set an "overweight" rating and a $137.00 price objective for the company. Finally, Redburn Atlantic cut shares of Westinghouse Air Brake Technologies from a "buy" rating to a "neutral" rating and set a $135.00 price objective for the company. in a research report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Westinghouse Air Brake Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $145.20.

Westinghouse Air Brake Technologies Trading Up 0.8 %

The stock has a market capitalization of $25.84 billion, a PE ratio of 32.30, a PEG ratio of 1.68 and a beta of 1.40. The company has a quick ratio of 0.63, a current ratio of 1.20 and a debt-to-equity ratio of 0.31. The business's 50-day moving average is $138.66 and its two-hundred day moving average is $123.31.

Westinghouse Air Brake Technologies (NYSE:WAB - Get Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The transportation company reported $1.54 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.04). Westinghouse Air Brake Technologies had a net margin of 8.42% and a return on equity of 10.34%. The company had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.48 billion. During the same period last year, the firm earned $1.30 earnings per share. Westinghouse Air Brake Technologies's revenue was up 9.5% on a year-over-year basis. On average, analysts anticipate that Westinghouse Air Brake Technologies Co. will post 6.72 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This is a boost from Westinghouse Air Brake Technologies's previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a yield of 0.55%. Westinghouse Air Brake Technologies's dividend payout ratio (DPR) is 17.70%.

Insider Activity

In related news, CEO Rafael Santana sold 40,219 shares of Westinghouse Air Brake Technologies stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $140.62, for a total transaction of $5,655,595.78. Following the sale, the chief executive officer now owns 123,019 shares of the company's stock, valued at approximately $17,298,931.78. 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, Director Brian Hehir sold 5,470 shares of the firm's stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $135.80, for a total transaction of $742,826.00. Following the completion of the transaction, the director now directly owns 23,065 shares of the company's stock, valued at approximately $3,132,227. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Rafael Santana sold 40,219 shares of the firm's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $140.62, for a total transaction of $5,655,595.78. Following the transaction, the chief executive officer now directly owns 123,019 shares of the company's stock, valued at $17,298,931.78. The disclosure for this sale can be found here. Insiders have sold 63,964 shares of company stock worth $8,924,584 over the last ninety days. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WAB. Neuberger Berman Group LLC boosted its holdings in shares of Westinghouse Air Brake Technologies by 2,233.1% in the 1st quarter. Neuberger Berman Group LLC now owns 245,277 shares of the transportation company's stock valued at $23,589,000 after buying an additional 234,764 shares during the period. Beutel Goodman & Co Ltd. boosted its stake in Westinghouse Air Brake Technologies by 2.2% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 1,636,230 shares of the transportation company's stock valued at $179,445,000 after purchasing an additional 35,565 shares during the period. iA Global Asset Management Inc. acquired a new position in Westinghouse Air Brake Technologies during the 3rd quarter valued at about $1,915,000. Applied Finance Capital Management LLC boosted its stake in Westinghouse Air Brake Technologies by 9.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 159,384 shares of the transportation company's stock valued at $20,226,000 after purchasing an additional 14,285 shares during the period. Finally, State of Tennessee Treasury Department boosted its stake in Westinghouse Air Brake Technologies by 13.8% during the 1st quarter. State of Tennessee Treasury Department now owns 115,233 shares of the transportation company's stock valued at $11,645,000 after purchasing an additional 13,949 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

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.