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

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

Several other brokerages have also weighed in on WAB. Bank of America lifted 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, April 15th. TD Cowen boosted their target price on Westinghouse Air Brake Technologies from $125.00 to $130.00 and gave the company a market perform rating in a research note on Thursday, February 15th. Wells Fargo & Company upped their price objective on Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. Jefferies Financial Group raised Westinghouse Air Brake Technologies from a hold rating to a buy rating and upped their price objective for the stock from $115.00 to $150.00 in a research report on Thursday, January 11th. Finally, KeyCorp increased their price target on Westinghouse Air Brake Technologies from $133.00 to $155.00 and gave the company an overweight rating in a research report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus 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 $144.17 on Tuesday. The firm has a market capitalization 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 has a one year low of $91.89 and a one year high of $151.00. The stock’s 50 day moving average price is $142.21 and its 200 day moving average price is $126.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.20.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its earnings results 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. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 earnings per share. As a group, sell-side analysts expect 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. Shareholders of record on Friday, February 23rd were issued a dividend of $0.20 per share. This is a boost from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.55%. Westinghouse Air Brake Technologies’s payout ratio is presently 17.70%.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other news, Director Brian Hehir sold 5,470 shares of the company’s stock in a transaction 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 transaction, the director now owns 23,065 shares of the company’s stock, valued at $3,132,227. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Brian Hehir sold 5,470 shares of the firm’s 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 transaction, the director now directly owns 23,065 shares of the company’s stock, valued at $3,132,227. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicole B. Theophilus sold 2,668 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $140.46, for a total value of $374,747.28. Following the completion of the sale, the executive vice president now directly owns 24,792 shares in the company, valued at $3,482,284.32. The disclosure for this sale can be found here. Insiders have sold 63,964 shares of company stock valued at $8,924,584 in the last 90 days. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Several large investors have recently made changes to their positions in WAB. Neuberger Berman Group LLC grew its position in Westinghouse Air Brake Technologies by 2,233.1% in the 1st quarter. Neuberger Berman Group LLC now owns 245,277 shares of the transportation company’s stock worth $23,589,000 after purchasing an additional 234,764 shares during the period. iA Global Asset Management Inc. purchased a new stake in Westinghouse Air Brake Technologies in the 3rd quarter worth $1,915,000. Applied Finance Capital Management LLC lifted its stake in Westinghouse Air Brake Technologies by 9.8% in the 4th quarter. Applied Finance Capital Management LLC now owns 159,384 shares of the transportation company’s stock worth $20,226,000 after purchasing an additional 14,285 shares in the last quarter. State of Tennessee Treasury Department lifted its stake in Westinghouse Air Brake Technologies by 13.8% in the 1st quarter. State of Tennessee Treasury Department now owns 115,233 shares of the transportation company’s stock worth $11,645,000 after purchasing an additional 13,949 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new stake in Westinghouse Air Brake Technologies in the 1st quarter worth $1,092,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.