Westinghouse Air Brake Technologies Co. (NYSE:WAB) VP David L. Deninno Sells 3,000 Shares of Stock

Westinghouse Air Brake Technologies Co. (NYSE:WAB) VP David L. Deninno sold 3,000 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $191.82, for a total value of $575,460.00. Following the completion of the sale, the vice president now directly owns 63,450 shares in the company, valued at approximately $12,170,979. The trade was a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Westinghouse Air Brake Technologies Stock Performance

NYSE:WAB opened at $189.45 on Wednesday. The firm’s fifty day simple moving average is $178.74 and its 200 day simple moving average is $190.30. The company has a current ratio of 1.30, a quick ratio of 0.69 and a debt-to-equity ratio of 0.34. Westinghouse Air Brake Technologies Co. has a twelve month low of $147.66 and a twelve month high of $210.88. The firm has a market capitalization of $32.42 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 1.50 and a beta of 1.12.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Wednesday, April 23rd. The transportation company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.25. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.61 billion. Westinghouse Air Brake Technologies had a return on equity of 12.78% and a net margin of 10.17%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 earnings per share. As a group, equities research analysts expect that Westinghouse Air Brake Technologies Co. will post 8.54 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.53%. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is currently 15.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Putney Financial Group LLC purchased a new stake in Westinghouse Air Brake Technologies during the 4th quarter worth $52,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Westinghouse Air Brake Technologies by 9.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 630 shares of the transportation company’s stock valued at $114,000 after acquiring an additional 56 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Westinghouse Air Brake Technologies in the fourth quarter worth about $204,000. GF Fund Management CO. LTD. purchased a new position in Westinghouse Air Brake Technologies in the fourth quarter valued at about $205,000. Finally, Longboard Asset Management LP acquired a new stake in Westinghouse Air Brake Technologies during the 4th quarter valued at approximately $252,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WAB. Susquehanna decreased their target price on shares of Westinghouse Air Brake Technologies from $218.00 to $210.00 and set a “positive” rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group reissued a “neutral” rating and set a $201.00 price objective (up from $175.00) on shares of Westinghouse Air Brake Technologies in a research note on Wednesday, April 23rd. Bank of America increased their target price on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. StockNews.com raised Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their price objective on Westinghouse Air Brake Technologies from $175.00 to $194.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.83.

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.