Westinghouse Air Brake Technologies (NYSE:WAB) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Westinghouse Air Brake Technologies Co. (NYSE:WAB) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $177.96 and traded as high as $191.60. Westinghouse Air Brake Technologies shares last traded at $190.45, with a volume of 822,152 shares traded.

Analyst Ratings Changes

Several equities analysts recently issued reports on WAB shares. KeyCorp lifted their price objective on Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. The Goldman Sachs Group boosted their price objective on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Susquehanna raised their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a report on Monday, October 21st. Finally, Stephens upped their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Westinghouse Air Brake Technologies currently has an average rating of “Moderate Buy” and an average target price of $175.30.

Westinghouse Air Brake Technologies Trading Up 0.8 %

The business has a 50 day simple moving average of $196.27 and a 200-day simple moving average of $177.96. The company has a current ratio of 1.30, a quick ratio of 0.65 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $32.74 billion, a price-to-earnings ratio of 31.74, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its earnings results on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.13. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Westinghouse Air Brake Technologies had a net margin of 10.25% and a return on equity of 12.52%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the company earned $1.70 earnings per share. On average, equities analysts predict that Westinghouse Air Brake Technologies Co. will post 7.6 earnings per share for the current year.

Westinghouse Air Brake Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Wednesday, November 13th. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is currently 13.33%.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other news, Director Albert J. Neupaver sold 35,722 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $188.70, for a total value of $6,740,741.40. Following the transaction, the director now owns 614,447 shares of the company’s stock, valued at approximately $115,946,148.90. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO John A. Mastalerz, Jr. sold 2,796 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $199.71, for a total transaction of $558,389.16. Following the sale, the chief accounting officer now directly owns 5,683 shares of the company’s stock, valued at approximately $1,134,951.93. This trade represents a 32.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,393 shares of company stock valued at $9,350,243. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WAB. Pinnacle Bancorp Inc. raised its holdings in shares of Westinghouse Air Brake Technologies by 55.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock valued at $28,000 after buying an additional 55 shares during the period. Eastern Bank purchased a new stake in shares of Westinghouse Air Brake Technologies during the third quarter valued at approximately $33,000. Garde Capital Inc. purchased a new position in shares of Westinghouse Air Brake Technologies in the third quarter valued at $110,000. Camden National Bank acquired a new stake in Westinghouse Air Brake Technologies during the 3rd quarter valued at $222,000. Finally, Harvest Fund Management Co. Ltd increased its stake in Westinghouse Air Brake Technologies by 10.4% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company’s stock worth $331,000 after buying an additional 172 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.