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 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 sale, the vice president now directly owns 55,352 shares of the company’s stock, valued at $10,439,387.20. The trade was a 0.00 % 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.

Westinghouse Air Brake Technologies Stock Performance

Shares of WAB traded up $2.54 during trading hours on Monday, hitting $191.30. The stock had a trading volume of 174,471 shares, compared to its average volume of 1,084,776. The firm has a market capitalization of $32.88 billion, a PE ratio of 31.46, a PEG ratio of 1.48 and a beta of 1.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.65. Westinghouse Air Brake Technologies Co. has a 12 month low of $104.18 and a 12 month high of $192.48. The stock has a fifty day moving average price of $175.94 and a 200 day moving average price of $166.07.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the previous year, the company posted $1.70 EPS. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Analysts anticipate that Westinghouse Air Brake Technologies Co. will post 7.53 EPS for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.80 annualized dividend and a yield of 0.42%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is presently 13.33%.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

A number of hedge funds have recently modified their holdings of the company. Pinnacle Bancorp Inc. grew its position in shares of Westinghouse Air Brake Technologies by 55.0% during the third quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock worth $28,000 after purchasing an additional 55 shares in the last quarter. Eastern Bank bought a new position in Westinghouse Air Brake Technologies in the 3rd quarter worth approximately $33,000. Massmutual Trust Co. FSB ADV grew its holdings in Westinghouse Air Brake Technologies by 26.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the transportation company’s stock valued at $90,000 after buying an additional 118 shares in the last quarter. Dorsey & Whitney Trust CO LLC bought a new stake in shares of Westinghouse Air Brake Technologies during the first quarter valued at approximately $204,000. Finally, Bridges Investment Management Inc. purchased a new position in shares of Westinghouse Air Brake Technologies in the second quarter worth $360,000. 91.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WAB. The Goldman Sachs Group raised their target price on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday. Susquehanna raised 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. Bank of America raised their price objective on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Stephens upped their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, 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.