Westinghouse Air Brake Technologies Co. (NYSE:WAB) to Issue Dividend Increase – $0.25 Per Share

Westinghouse Air Brake Technologies Co. (NYSE:WAB) announced a quarterly dividend on Friday, February 7th,RTT News reports. Stockholders of record on Friday, February 21st will be given a dividend of 0.25 per share by the transportation company on Friday, March 7th. This represents a $1.00 annualized dividend and a dividend yield of 0.48%. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20.

Westinghouse Air Brake Technologies has raised its dividend by an average of 18.6% per year over the last three years. Westinghouse Air Brake Technologies has a dividend payout ratio of 8.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Westinghouse Air Brake Technologies to earn $8.60 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 9.3%.

Westinghouse Air Brake Technologies Trading Down 0.3 %

Shares of Westinghouse Air Brake Technologies stock traded down $0.66 on Friday, reaching $206.84. 523,845 shares of the company were exchanged, compared to its average volume of 869,599. The company has a current ratio of 1.30, a quick ratio of 0.65 and a debt-to-equity ratio of 0.34. Westinghouse Air Brake Technologies has a fifty-two week low of $131.33 and a fifty-two week high of $210.88. The firm has a market capitalization of $35.55 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 1.33 and a beta of 1.27. The stock has a fifty day moving average price of $198.94 and a 200-day moving average price of $184.73.

Analysts Set New Price Targets

Several research firms have recently weighed in on WAB. KeyCorp lifted 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 research report on Wednesday, November 13th. Susquehanna lifted their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. Bank of America increased their target price on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. The Goldman Sachs Group lifted their price target on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Stephens increased their price objective on 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Westinghouse Air Brake Technologies has a consensus rating of “Moderate Buy” and an average target price of $188.50.

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.