Westinghouse Air Brake Technologies Co. (NYSE:WAB) to Issue Quarterly Dividend of $0.20

Westinghouse Air Brake Technologies Co. (NYSE:WAB) declared a quarterly dividend on Thursday, October 17th,RTT News reports. Stockholders of record on Wednesday, November 13th will be given a dividend of 0.20 per share by the transportation company on Wednesday, November 27th. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Wednesday, November 13th.

Westinghouse Air Brake Technologies has raised its dividend payment by an average of 12.3% per year over the last three years. Westinghouse Air Brake Technologies has a dividend payout ratio of 9.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Westinghouse Air Brake Technologies to earn $8.56 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 9.3%.

Westinghouse Air Brake Technologies Stock Up 0.2 %

WAB stock opened at $201.17 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.65. The stock has a market capitalization of $34.58 billion, a P/E ratio of 33.53, a P/E/G ratio of 1.56 and a beta of 1.27. The business has a 50-day moving average of $182.20 and a 200-day moving average of $169.52. Westinghouse Air Brake Technologies has a fifty-two week low of $111.93 and a fifty-two week high of $202.84.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its earnings results on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.13. Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the prior year, the company posted $1.70 earnings per share. Westinghouse Air Brake Technologies’s revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts anticipate that Westinghouse Air Brake Technologies will post 7.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, CTO Eric Gebhardt sold 7,422 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $156.32, for a total value of $1,160,207.04. Following the sale, the chief technology officer now owns 22,411 shares of the company’s stock, valued at approximately $3,503,287.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CTO Eric Gebhardt sold 7,422 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $156.32, for a total transaction of $1,160,207.04. Following the sale, the chief technology officer now owns 22,411 shares of the company’s stock, valued at $3,503,287.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Albert J. Neupaver sold 35,722 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $188.70, for a total value of $6,740,741.40. Following the sale, the director now directly owns 614,447 shares in the company, valued at approximately $115,946,148.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,984 shares of company stock valued at $11,200,586. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

WAB has been the topic of several research analyst reports. The Goldman Sachs Group upped their price objective on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Stephens upped their price objective on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Susquehanna increased their target price on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Finally, Bank of America increased their target price on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.