Bank of America Increases Westinghouse Air Brake Technologies (NYSE:WAB) Price Target to $162.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its price objective lifted by Bank of America from $156.00 to $162.00 in a report published on Monday, Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

Other analysts also recently issued reports about the stock. Jefferies Financial Group upgraded shares of Westinghouse Air Brake Technologies from a hold rating to a buy rating and raised their target price for the stock from $115.00 to $150.00 in a report on Thursday, January 11th. Morgan Stanley initiated coverage on shares of Westinghouse Air Brake Technologies in a report on Monday, January 8th. They set an overweight rating and a $137.00 target price on the stock. TD Cowen raised their target price on shares of Westinghouse Air Brake Technologies from $125.00 to $130.00 and gave the stock a market perform rating in a report on Thursday, February 15th. Stephens raised their target price on shares of Westinghouse Air Brake Technologies from $153.00 to $155.00 and gave the stock an overweight rating in a report on Thursday, February 15th. Finally, Redburn Atlantic downgraded shares of Westinghouse Air Brake Technologies from a buy rating to a neutral rating and set a $135.00 target price on the stock. in a report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Westinghouse Air Brake Technologies has a consensus rating of Moderate Buy and an average price target of $146.91.

Westinghouse Air Brake Technologies Stock Performance

Shares of NYSE:WAB opened at $144.27 on Monday. The company has a market capitalization of $25.51 billion, a price-to-earnings ratio of 31.92, a P/E/G ratio of 1.67 and a beta of 1.40. The firm’s 50 day simple moving average is $142.06 and its 200 day simple moving average is $126.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.20 and a quick ratio of 0.63. Westinghouse Air Brake Technologies has a fifty-two week low of $91.89 and a fifty-two week high of $151.00.

Westinghouse Air Brake Technologies (NYSE:WAB) 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). The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.48 billion. Westinghouse Air Brake Technologies had a net margin of 8.42% and a return on equity of 10.34%. The business’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.30 earnings per share. As a group, sell-side analysts forecast that Westinghouse Air Brake Technologies will post 6.73 earnings per share for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a $0.20 dividend. The ex-dividend date 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 annualized dividend and a dividend yield of 0.55%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is currently 17.70%.

Insider Activity at Westinghouse Air Brake Technologies

In related news, CEO Rafael Santana sold 40,219 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $140.62, for a total value of $5,655,595.78. Following the completion of the transaction, the chief executive officer now directly owns 123,019 shares of the company’s stock, valued at $17,298,931.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Westinghouse Air Brake Technologies news, EVP Nicole B. Theophilus sold 2,668 shares of Westinghouse Air Brake Technologies stock in a transaction on Friday, March 15th. The shares were sold at an average price of $140.46, for a total transaction of $374,747.28. Following the completion of the transaction, the executive vice president now directly owns 24,792 shares of the company’s stock, valued at $3,482,284.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Rafael Santana sold 40,219 shares of Westinghouse Air Brake Technologies 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. Over the last three months, insiders sold 63,964 shares of company stock valued at $8,924,584. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC lifted its holdings in shares of Westinghouse Air Brake Technologies by 2,233.1% during the first quarter. Neuberger Berman Group LLC now owns 245,277 shares of the transportation company’s stock worth $23,589,000 after buying an additional 234,764 shares in the last quarter. iA Global Asset Management Inc. acquired a new stake in shares of Westinghouse Air Brake Technologies during the third quarter worth $1,915,000. Applied Finance Capital Management LLC lifted its holdings in shares of Westinghouse Air Brake Technologies by 9.8% during the fourth quarter. Applied Finance Capital Management LLC now owns 159,384 shares of the transportation company’s stock worth $20,226,000 after buying an additional 14,285 shares in the last quarter. State of Tennessee Treasury Department lifted its holdings in shares of Westinghouse Air Brake Technologies by 13.8% during the first quarter. State of Tennessee Treasury Department now owns 115,233 shares of the transportation company’s stock worth $11,645,000 after buying an additional 13,949 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new stake in shares of Westinghouse Air Brake Technologies during the first quarter worth $1,092,000. 91.69% of the stock is owned by institutional investors.

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.