StockNews.com Downgrades Westinghouse Air Brake Technologies (NYSE:WAB) to Hold

StockNews.com downgraded shares of Westinghouse Air Brake Technologies (NYSE:WAB) from a buy rating to a hold rating in a report released on Monday morning.

A number of other equities analysts also recently weighed in on WAB. Stephens reaffirmed an “overweight” rating and issued a $220.00 target price on shares of Westinghouse Air Brake Technologies in a research note on Thursday, February 13th. Bank of America boosted their price objective on shares of Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, KeyCorp increased their price objective on Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Westinghouse Air Brake Technologies presently has an average rating of “Moderate Buy” and an average price target of $206.33.

Westinghouse Air Brake Technologies Stock Up 1.3 %

NYSE WAB opened at $179.91 on Monday. The stock’s 50 day simple moving average is $195.64 and its 200 day simple moving average is $189.17. Westinghouse Air Brake Technologies has a one year low of $139.12 and a one year high of $210.88. The firm has a market cap of $30.74 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.69.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its earnings results on Wednesday, February 12th. The transportation company reported $1.68 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.06). Westinghouse Air Brake Technologies had a return on equity of 12.78% and a net margin of 10.17%. As a group, sell-side analysts forecast that Westinghouse Air Brake Technologies will post 8.54 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a $0.25 dividend. The ex-dividend date is Friday, February 21st. This is a boost from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 0.56%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is presently 16.58%.

Insiders Place Their Bets

In other news, CEO Rafael Santana sold 886 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $182.34, for a total value of $161,553.24. Following the transaction, the chief executive officer now directly owns 176,295 shares in the company, valued at $32,145,630.30. This trade represents a 0.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Several hedge funds have recently added to or reduced their stakes in WAB. Erste Asset Management GmbH acquired a new stake in shares of Westinghouse Air Brake Technologies in the 3rd quarter valued at approximately $61,474,000. BNP Paribas Financial Markets grew its position in shares of Westinghouse Air Brake Technologies by 5.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 278,729 shares of the transportation company’s stock valued at $50,665,000 after purchasing an additional 13,683 shares during the period. Lord Abbett & CO. LLC bought a new stake in shares of Westinghouse Air Brake Technologies during the third quarter worth $24,630,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Westinghouse Air Brake Technologies during the fourth quarter worth $22,509,000. Finally, AGF Management Ltd. acquired a new stake in shares of Westinghouse Air Brake Technologies in the 4th quarter valued at about $10,566,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Company Profile

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.