Westinghouse Air Brake Technologies (NYSE:WAB) Downgraded to “Hold” Rating by StockNews.com

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

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

Westinghouse Air Brake Technologies Stock Performance

Shares of NYSE WAB opened at $181.57 on Monday. 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 capitalization of $31.02 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 1.50 and a beta of 1.27. The company has a current ratio of 1.30, a quick ratio of 0.69 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $195.97 and a 200 day simple moving average of $189.05.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly 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 net margin of 10.17% and a return on equity of 12.78%. Sell-side analysts expect that Westinghouse Air Brake Technologies will post 8.54 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a $0.25 dividend. The ex-dividend date is Friday, February 21st. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is 16.58%.

Insider Activity

In other news, CEO Rafael Santana sold 886 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $182.34, for a total value of $161,553.24. Following the sale, the chief executive officer now directly owns 176,295 shares of the company’s stock, valued at approximately $32,145,630.30. This represents a 0.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WAB. Bridges Investment Management Inc. boosted its holdings in shares of Westinghouse Air Brake Technologies by 3.4% during the third quarter. Bridges Investment Management Inc. now owns 2,357 shares of the transportation company’s stock worth $428,000 after acquiring an additional 77 shares during the period. Greenleaf Trust grew its position in Westinghouse Air Brake Technologies by 2.9% in the fourth quarter. Greenleaf Trust now owns 3,344 shares of the transportation company’s stock valued at $634,000 after acquiring an additional 94 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in Westinghouse Air Brake Technologies by 10.4% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company’s stock valued at $331,000 after buying an additional 172 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in Westinghouse Air Brake Technologies by 3.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 5,400 shares of the transportation company’s stock worth $1,024,000 after purchasing an additional 200 shares in the last quarter. Finally, Putney Financial Group LLC bought a new stake in Westinghouse Air Brake Technologies during the 4th quarter worth approximately $52,000. 91.69% of the stock is 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.