Westinghouse Air Brake Technologies (NYSE:WAB) Price Target Raised to $152.00 at The Goldman Sachs Group

Westinghouse Air Brake Technologies (NYSE:WAB) had its price objective increased by The Goldman Sachs Group from $138.00 to $152.00 in a research note published on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the transportation company’s stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company increased their target price on shares of Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the stock an overweight rating in a research note on Thursday, February 15th. KeyCorp increased their price target on shares of Westinghouse Air Brake Technologies from $133.00 to $155.00 and gave the company an overweight rating in a research note on Thursday, February 15th. Morgan Stanley assumed coverage on shares of Westinghouse Air Brake Technologies in a research report on Monday, January 8th. They issued an overweight rating and a $137.00 target price on the stock. Bank of America lifted their target price on 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. Finally, Jefferies Financial Group upgraded Westinghouse Air Brake Technologies from a hold rating to a buy rating and lifted their target price for the company from $115.00 to $150.00 in a report on Thursday, January 11th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Westinghouse Air Brake Technologies presently has an average rating of Moderate Buy and an average price target of $146.91.

Westinghouse Air Brake Technologies Trading Down 0.1 %

Shares of NYSE WAB opened at $144.17 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 1.20 and a debt-to-equity ratio of 0.31. Westinghouse Air Brake Technologies has a twelve month low of $91.89 and a twelve month high of $151.00. The business has a fifty day simple moving average of $142.21 and a two-hundred day simple moving average of $126.70. The firm has a market cap of $25.49 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 1.66 and a beta of 1.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings data on Wednesday, February 14th. The transportation company reported $1.54 EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same quarter in the prior year, the company posted $1.30 EPS. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. Analysts expect that Westinghouse Air Brake Technologies will post 6.73 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

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

Insider Activity at Westinghouse Air Brake Technologies

In related news, CEO Rafael Santana sold 40,219 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 123,019 shares in the company, valued at approximately $17,298,931.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Rafael Santana sold 40,219 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 123,019 shares in the company, valued at $17,298,931.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Hehir sold 5,470 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 23,065 shares in the company, valued at approximately $3,132,227. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,964 shares of company stock valued at $8,924,584. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Westinghouse Air Brake Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Hawaiian Bank raised its holdings in Westinghouse Air Brake Technologies by 4.4% in the 1st quarter. First Hawaiian Bank now owns 3,699 shares of the transportation company’s stock valued at $539,000 after acquiring an additional 157 shares in the last quarter. Applied Finance Capital Management LLC increased its stake in shares of Westinghouse Air Brake Technologies by 9.8% in the fourth quarter. Applied Finance Capital Management LLC now owns 159,384 shares of the transportation company’s stock valued at $20,226,000 after buying an additional 14,285 shares in the last quarter. BNP Paribas Financial Markets increased its position in Westinghouse Air Brake Technologies by 7.7% in the 4th quarter. BNP Paribas Financial Markets now owns 81,916 shares of the transportation company’s stock valued at $10,395,000 after acquiring an additional 5,859 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new position in Westinghouse Air Brake Technologies in the 4th quarter valued at $1,030,000. Finally, iA Global Asset Management Inc. bought a new position in shares of Westinghouse Air Brake Technologies in the 3rd quarter valued at about $1,915,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.