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

Westinghouse Air Brake Technologies Co. (NYSE:WAB)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $176.58 and traded as high as $194.26. Westinghouse Air Brake Technologies shares last traded at $194.16, with a volume of 321,609 shares.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on WAB shares. The Goldman Sachs Group boosted their price objective on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. KeyCorp raised 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. Susquehanna upped their target price on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a research note on Monday, October 21st. Finally, Stephens raised their price target on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.30.

Westinghouse Air Brake Technologies Trading Up 1.4 %

The firm’s 50 day simple moving average is $195.99 and its 200-day simple moving average is $176.58. The company has a quick ratio of 0.65, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $33.37 billion, a PE ratio of 32.36, a P/E/G ratio of 1.45 and a beta of 1.26.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.13. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.68 billion. Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.70 EPS. As a group, equities research analysts anticipate that Westinghouse Air Brake Technologies Co. will post 7.6 EPS for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is presently 13.33%.

Insider Buying and Selling

In other news, CAO John A. Mastalerz, Jr. sold 2,796 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 5,683 shares in the company, valued at approximately $1,134,951.93. This represents a 32.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP David L. Deninno sold 10,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $188.60, for a total transaction of $1,886,000.00. Following the completion of the sale, the vice president now directly owns 55,352 shares in the company, valued at $10,439,387.20. This represents a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,393 shares of company stock valued at $9,350,243 in the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

Several institutional investors and hedge funds have recently made changes to their positions in WAB. Pinnacle Bancorp Inc. lifted its holdings in Westinghouse Air Brake Technologies by 55.0% in the third quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock worth $28,000 after acquiring an additional 55 shares during the last quarter. Eastern Bank acquired a new stake in shares of Westinghouse Air Brake Technologies during the 3rd quarter worth approximately $33,000. Garde Capital Inc. bought a new stake in shares of Westinghouse Air Brake Technologies in the 3rd quarter worth approximately $110,000. Camden National Bank acquired a new position in Westinghouse Air Brake Technologies during the 3rd quarter valued at approximately $222,000. Finally, Harvest Fund Management Co. Ltd grew 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 last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

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.