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

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

WAB has been the topic of several other research reports. KeyCorp raised their price objective on Westinghouse Air Brake Technologies from $133.00 to $155.00 and gave the stock an overweight rating in a report on Thursday, February 15th. Bank of America raised their price objective on Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the stock a buy rating in a report on Monday. Susquehanna lifted their target price on Westinghouse Air Brake Technologies from $150.00 to $160.00 and gave the company a positive rating in a report on Thursday, February 15th. Redburn Atlantic cut 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. 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 investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $146.91.

Westinghouse Air Brake Technologies Stock Performance

Westinghouse Air Brake Technologies stock opened at $145.47 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.20. The stock has a fifty day moving average of $141.75 and a two-hundred day moving average of $126.18. The company has a market capitalization of $25.72 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 1.68 and a beta of 1.40. 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 released its quarterly earnings results on Wednesday, February 14th. The transportation company reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.04). Westinghouse Air Brake Technologies had a return on equity of 10.34% and a net margin of 8.42%. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same period in the previous year, the business posted $1.30 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. On average, analysts anticipate that Westinghouse Air Brake Technologies will post 6.73 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. This is a positive change 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 payout ratio is presently 17.70%.

Insider Transactions at Westinghouse Air Brake Technologies

In other news, Director Brian Hehir sold 5,470 shares of Westinghouse Air Brake Technologies stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $135.80, for a total transaction of $742,826.00. Following the sale, the director now directly owns 23,065 shares of the company’s stock, valued at $3,132,227. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Rafael Santana sold 40,219 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $140.62, for a total value of $5,655,595.78. Following the completion of the sale, the chief executive officer now directly owns 123,019 shares of the company’s stock, valued at $17,298,931.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brian Hehir sold 5,470 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $135.80, for a total value of $742,826.00. Following the completion of the transaction, the director now owns 23,065 shares of the company’s stock, valued at $3,132,227. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,964 shares of company stock valued at $8,924,584. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Neuberger Berman Group LLC boosted its position in shares of Westinghouse Air Brake Technologies by 10.1% during the third quarter. Neuberger Berman Group LLC now owns 287,515 shares of the transportation company’s stock worth $23,389,000 after buying an additional 26,351 shares during the period. Applied Finance Capital Management LLC boosted its position 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 during the period. WASHINGTON TRUST Co boosted its position in shares of Westinghouse Air Brake Technologies by 0.5% during the third quarter. WASHINGTON TRUST Co now owns 157,051 shares of the transportation company’s stock worth $16,690,000 after buying an additional 760 shares during the period. State of Tennessee Treasury Department boosted its position 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 during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Westinghouse Air Brake Technologies by 7.7% during the fourth quarter. BNP Paribas Financial Markets now owns 81,916 shares of the transportation company’s stock worth $10,395,000 after buying an additional 5,859 shares during the period. 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.