Insider Selling: Westinghouse Air Brake Technologies Co. (NYSE:WAB) VP Sells 10,000 Shares of Stock

Westinghouse Air Brake Technologies Co. (NYSE:WAB) VP David L. Deninno sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 55,352 shares of the company’s stock, valued at approximately $10,439,387.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Westinghouse Air Brake Technologies Stock Performance

WAB opened at $189.38 on Thursday. The company has a current ratio of 1.30, a quick ratio of 0.65 and a debt-to-equity ratio of 0.34. The company has a market cap of $32.55 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 1.48 and a beta of 1.27. The company’s 50 day moving average is $177.70 and its 200 day moving average is $166.84. Westinghouse Air Brake Technologies Co. has a 12-month low of $104.45 and a 12-month high of $192.48.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.13. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.68 billion. Westinghouse Air Brake Technologies had a net margin of 10.25% and a return on equity of 12.52%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.70 earnings per share. On average, equities research analysts predict that Westinghouse Air Brake Technologies Co. will post 7.53 EPS for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date is Wednesday, November 13th. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 13.33%.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Several large investors have recently added to or reduced their stakes in WAB. Pinnacle Bancorp Inc. lifted its holdings in Westinghouse Air Brake Technologies by 55.0% during the third quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 55 shares in the last quarter. Eastern Bank purchased a new position in Westinghouse Air Brake Technologies during the third quarter valued at approximately $33,000. Massmutual Trust Co. FSB ADV lifted its holdings in Westinghouse Air Brake Technologies by 26.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the transportation company’s stock valued at $90,000 after purchasing an additional 118 shares in the last quarter. Dorsey & Whitney Trust CO LLC purchased a new position in Westinghouse Air Brake Technologies during the first quarter valued at approximately $204,000. Finally, Bridges Investment Management Inc. purchased a new position in Westinghouse Air Brake Technologies during the second quarter valued at approximately $360,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on WAB shares. Susquehanna raised their price objective on shares of 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. Stephens raised their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Bank of America raised their price target on shares of Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, The Goldman Sachs Group raised their price target on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $171.80.

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.