Westinghouse Air Brake Technologies (NYSE:WAB) Shares Pass Above Two Hundred Day Moving Average of $146.25

Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $146.25 and traded as high as $155.94. Westinghouse Air Brake Technologies shares last traded at $155.46, with a volume of 1,872,026 shares traded.

Analyst Ratings Changes

A number of research firms recently issued reports on WAB. Bank of America boosted their target price on shares of Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Susquehanna upped their price target on Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the stock a “positive” rating in a research note on Thursday, April 25th. KeyCorp increased their price target on Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Stephens boosted their price objective on Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Finally, TD Cowen increased their target price on Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $158.82.

Westinghouse Air Brake Technologies Stock Up 1.6 %

The stock has a 50-day moving average of $164.20 and a 200 day moving average of $146.33. The company has a market capitalization of $27.87 billion, a PE ratio of 30.88, a P/E/G ratio of 1.38 and a beta of 1.29. The company has a quick ratio of 0.77, a current ratio of 1.52 and a debt-to-equity ratio of 0.38.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.40 billion. Westinghouse Air Brake Technologies had a return on equity of 11.25% and a net margin of 9.20%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $1.28 EPS. Sell-side analysts anticipate that Westinghouse Air Brake Technologies Co. will post 7.28 EPS for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Friday, May 24th. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 15.63%.

Insiders Place Their Bets

In related news, insider Rogerio Mendonca sold 3,965 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $160.75, for a total value of $637,373.75. Following the completion of the transaction, the insider now directly owns 12,464 shares in the company, valued at approximately $2,003,588. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Rogerio Mendonca sold 3,965 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $160.75, for a total value of $637,373.75. Following the sale, the insider now directly owns 12,464 shares of the company’s stock, valued at $2,003,588. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP David L. Deninno sold 3,016 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $161.48, for a total transaction of $487,023.68. Following the transaction, the vice president now directly owns 65,352 shares of the company’s stock, valued at approximately $10,553,040.96. The disclosure for this sale can be found here. Insiders sold 47,476 shares of company stock worth $7,689,609 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in Westinghouse Air Brake Technologies by 107.8% during the 1st quarter. BNP Paribas Financial Markets now owns 170,248 shares of the transportation company’s stock valued at $24,802,000 after buying an additional 88,325 shares during the last quarter. Forsta AP Fonden raised its stake in shares of Westinghouse Air Brake Technologies by 64.5% during the first quarter. Forsta AP Fonden now owns 53,300 shares of the transportation company’s stock valued at $7,765,000 after acquiring an additional 20,900 shares during the last quarter. iA Global Asset Management Inc. bought a new position in shares of Westinghouse Air Brake Technologies during the third quarter valued at about $1,915,000. Applied Finance Capital Management LLC boosted 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 purchasing an additional 14,285 shares during the period. Finally, Plato Investment Management Ltd grew its stake in shares of Westinghouse Air Brake Technologies by 59,168.4% in the first quarter. Plato Investment Management Ltd now owns 11,261 shares of the transportation company’s stock worth $1,641,000 after purchasing an additional 11,242 shares during the last quarter. 91.69% of the stock is currently 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.